The Globe and Mail reports in its Wednesday, Dec. 20, edition that Echelon Capital analyst Ryan Walker, in response to Osino Resources' friendly cash and share agreement to be acquired by Dundee Precious Metals, has moved his recommendation for Osino to "tender" from "speculative buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Walker removed his share target, which had been $2. Analysts on average target the shares at $2.49. Mr. Walker says in a note: "We recommend that Osino shareholders tender to the friendly Dundee bid, given the cash and share consideration (at real premiums) and the longer-term exposure it affords to a well-regarded intermediate precious metals producer and developer with the financial and technical wherewithal (in a still tight market for junior developer capital) to advance Osino's Twin Hills gold project in Namibia into production (planned for 2026). Indeed, Dundee shares have been among the best performers in the mining sector, up 50 per cent year-to-date (prior to [Monday's] bid announcement). We also see the two as an excellent fit given Dundee's operating presence in Namibia since 2010 and strong government relations."