Twin Hills is an open-pit project with a 13-year mine life and average annual production of 175,000 oz. gold over the first five years, with first production targeted in the second half of 2026, according to feasibility study released in June. Namibia has granted the project a 20-year licence leaving only site-level permits still required.
The acquisition enhances Dundee’s portfolio as an intermediate producer with its high-margin 258,000 oz. gold annual output from the Chelopech and Ada Tepe mines in Bulgaria, as it advances the Čoka Rakita deposit in Serbia through a preliminary economic assessment. It strengthens Dundee’s proven and probable reserves by 43% to about 7.2 million oz. gold.
“The project provides a foundation for our future production profile with production targeted for 2026, as well as significant exploration upside,” Dundee president and CEO David Rae said in a release. “This transaction also allows us…
