Member Info for Iceman_1

The latest RNS about Spartan Fund actually shows strong confidence in NTVO. Spartan is now heavily invested in the success of NTVO. They restructured the original £1m loan into a CLN earlier this year and agreed to convert at a 20% premium, which already tells you they were expecting the share price to rise.

Now they’ve exercised their conversion rights and taken a 9.31% stake in NTVO. Funds do not take positions this size unless they want long-term exposure and believe real value is coming. If Spartan had concerns, they would have stayed as a lender or reduced their position. Instead, they’ve increased their commitment and become one of the largest shareholders of ntvo.

With trenching almost complete, shafts mapped, rehabilitation underway, and small-scale mining edging closer, it looks like Spartan wants to be fully invested before gold production starts. This is positioning, not panic!!🙂

Overall, a very positive sign for NTVO.

Guzzler1962

From everything im seeing and reading, it’s clear NTVO is moving toward actual gold extraction. Once they start getting gold out, NTVO effectively becomes a gold-producing company, not just an explorer. This is very important!

At that point, the market will have no choice but to re-rate the share price to reflect a producing asset rather than a speculative one.

Big shift coming, in my humble opinion!!

GL!🙂

NTVO just posted another solid update on X. Trenching and mapping at Bonanza are now nearing completion.

This is a big milestone because the trenching work has exposed the vein system along strike, and the mapping is revealing the structural and mineralised features near surface. In simple terms, they’re now refining the geological interpretation and building a very detailed picture of the gold continuity at shallow levels.

Trenching DONE

Mapping DONE

32 artisanal shafts mapped DONE

Samples dispatched with ~10-day lab turnaround DONE

Shaft rehab progressing DONE

Contractors visiting site DONE

Everything is lining up exactly as planned for the Bonanza Vein Study to be finalised and for small-scale mining to start before year-end, exactly as management guided.

This latest update shows real, on-the-ground progress. The team is clearly moving fast and ticking off each step. Really looking forward to the next RNS when samples come back.

And in the mean time Gold keeps moving higher!

https://x.com/nativoresources/status/1993605783511318580

This could be for any number of reasons. Personally, I see the fact that he is still above 3% as a statement in itself!!

If he were unhappy or losing confidence, he could have taken it below 3% and avoided having to file another TR-1. The fact he didn’t suggests he still wants it to be known that he remains a "meaningful holder".

So for me, this RNS is neutral — nothing to worry about.

Someone can ask him on X. I'm sure he will clarify it.

Thanks EGTP!

NTVO reports field verification at Bonanza is progressing well, with 32 artisanal shafts now mapped. This gives the company a complete record of historical mining activity. A crucial step before starting their own small-scale or larger operations.

Trenching done, samples sent, shafts being rehabs, new veins mapped!! Nice :)

NTVO is steadily ticking off milestones towards starting small-scale mining before year-end. Early operations, combined with these new discoveries, could unlock significant value for shareholders.

Cant wait for the next RNS!

Agreed AIM !!

The director cost portion was high. But now the company is moving into a more active operational phase, there’s real room for directors to take a larger portion of their compensation in shares/options instead of cash. That reduces the cash burn and properly aligns incentives with shareholders.

It would also be great to see directors buying shares in the open market. Even a small amount shows confidence, gives back some of what’s been taken out over the years, and helps support the share price at this crucial stage. Actions like that go a long way in rebuilding trust and winning back shareholders like yourself who have been badly hurt in the past.

With scale, proper discipline, and real progress on the ground, these costs should shrink as a percentage of revenue. If they manage that well, they’ll attract new investors much more easily.

Have a lovely weekend, mate. Hope you spend a bit of time thinking about what I’ve shared this week. Would love to see you pick up a few and join me on this journey. I can’t guarantee success, but it will definitely be fun and exciting. And if management get their act together, we could make some serious, serious cash here.

Have a lovely weekend everyone!

AIM — fair point on costs, but here’s the part you’re missing.

Yes, admin costs were high historically, but two things have changed significantly!!

Directors have already taken shares instead of cash. That directly reduces cash burn. It also aligns them with shareholders. They only win if the share price goes up. That’s exactly what you want at this stage of a mining build-out.

Costs naturally fall as a company moves from exploration to production. Admin looks high when there is no revenue, because everything is an expense.

But once even small-scale mining begins (3–5 tpd), you suddenly have:

+daily revenue

+operating cash flow

+lower need for repeated fundraises

+the ability to cover admin + early exploration from production

The GOPP is the real cost reducer. Once the plant is live, tolling third-party ore alone could cover a massive portion of fixed overheads — before NTVO even processes its own high-grade material.

They don’t need to cut costs to the bone. They just need to generate revenue. And that’s exactly what they are moving toward.

Agree. Lab results are important.

Aim, even using your numbers, the small-scale operation still generates solid profit. Once money starts coming in, scaling up becomes far easier. Cash flow funds future growth. And when you can show real progress on the ground, you naturally attract new investors at a premium.

Assumptions:

Small-scale Bonanza mining: 3–5 tpd (tonnes per day)

Ore grade: let’s assume average historical high-grade of 32 g/t Au from St. Elias data (this may be optimistic, but gives an upper-bound estimate)

Gold price: $4,000/oz

1 tonne = 1,000 kg AND 1 g/t = 1 gram of gold per tonne AND 1 oz = 31.1035 g

Gold per day:

Low end: 3 tpd × 32 g/t = 96 g/day ( 3.09 oz/day) AND High end: 5 tpd × 32 g/t = 160 g/day (5.14 oz/day)

Revenue/day

Revenue = ounces × gold price

Low end: 3.09 oz × $4,000 ≈ $12,360/day

High end: 5.14 oz × $4,000 ≈ $20,560/day

Revenue/week (7 days)

Low end: $12,360 × 7 ≈ $86,520/week

High end: $20,560 × 7 ≈ $143,920/week

Revenue/month (30 days)

Low end: $12,360 × 30 ≈ $370,800/month🔥🔥🔥

High end: $20,560 × 30 ≈ $616,800/month🔥🔥🔥

This is why i said NTVO is front-loading Bonanza to generate revenue!!!

VERY PROFITABLE OPERATION!

p.s. any mistakes let me know.

AIMinvestor22

Short-term small-scale mining at Bonanza (3–5 tpd) is relatively low cost because it’s artisanal/manual style, using existing access and local labour. The main costs are labour, logistics, road maintenance, and sample processing. Roughly, the All-In-Cost (AIC) is around $1,100–$1,500/oz based on management guidance.

Building and commissioning GOPP will require the bulk of the recent capital raise. Civil works, electricals, crushing/milling, flotation/lixiviation circuits, and lab setup are all contracted and scheduled.

This means even a few months of early operations can generating early cash flow to support further studies and fund the GOPP construction.

NTVO is front-loading Bonanza to generate revenue, validate operations, and fund wider concession work. While keeping costs manageable in the short term.

I hope this helps.

Interesting....

Well done for pointing that out. I hadn’t noticed it.

Thanks!

AIM — excellent question! We’re all here to learn from each other. I like reading BB, to make sure I’m not getting ahead of myself. I really appreciate constructive comments.

There’s clearly gold at Bonanza (St. Elias proved it), and their historic work actually gives NTVO a head start. But even with all the data you still need a sequence of studies before full-scale extraction is realistic.

Trenching and sampling are done, shaft rehab is advancing, and five new high-potential ore shoots have been confirmed! Next comes assay results (due in 10 days), metallurgical tests, and finalising underground targets. These steps de-risk the project and fast-track production.

St. Elias ran bulk samples, underground development, and geophysics, which is why NTVO can move faster . They have historic evidence and target locations to focus on. In practical terms, small-scale extraction or tolling could begin soon ( December) after receiving trench assay results, while full-scale Phase 1 GOPP production is scheduled for Q2 2026.

If management hits their milestones, the potential upside is huge. this isn’t fantasy, it’s fact-based progress.

Fergalcat

That’s exactly my point.

The numbers given in the RNS by management are absolutely insane compared to the current market cap. Even if NTVO only achieves 25% of the Phase 1 targets, the share price would still have to massively re-rate. The upside is massive HERE!

Fergalcat,

Great posting — I genuinely enjoy reading your posts. You're a well-informed investor, and it’s refreshing to see someone highlighting the real potential here.

NTVO Phase 1 – Estimated Daily & Annual Revenue (at $4,000 gold)

Phase 1 output:

1.48–1.67 kg of gold per day AND 1 kg of gold = 32.1507 troy ounces

Daily Revenue

Low end (1.48 kg/day):

1.48 × 32.1507 = 47.58 oz/day

47.58 oz × $4,000 = $190,320 per day

High end (1.67 kg/day):

1.67 × 32.1507 = 53.69 oz/day

53.69 oz × $4,000 = $214,760 per day

➡️ Phase 1 Daily Revenue Range: $190,000 – $215,000 per day

Annual Revenue (365 days)

Low end: $190,320 × 365 = $69.5 million per year

High end: $214,760 × 365 = $78.4 million per year

Phase 1 Annual Revenue Potential: $70M – $78M per year**

Im not going anywhere! I accept the risk and the reward here is too big to ignore!

GL!

AIM — these are facts, not opinions.

St. Elias publicly reported that they extracted: 1,157 tonnes of material at an average grade of 32 g/t gold from three veins (mainly Tesoro Shear Zone, C1, and C2 veins)

That’s documented historic production — you can’t argue with it.

Nativo isn’t starting from scratch. They’re building on years of previous data, mapping, sampling, and underground work already completed. That’s exactly why progress is moving quicker now — the groundwork was done long before NTVO arrived.

You don’t have to be bullish, but ignoring the historical grades just makes you look silly. This is one of the highest-grade artisanal gold systems in the entire region, and the numbers speak for themselves.

If management continues executing at the current pace, I genuinely believe we could see a completely different share price next year — potentially somewhere in the 3p to 10p range, in my personal opinion. All depends on delivery, but the trajectory looks strong.

The Risk vs Reward here is one of the best I’ve seen in AIM. IMHO!

AIM do some reasearch. It's all there!!

AIM-

Every time I check LSE, you’re here posting again!

Your future wife is going to chase you around with a stick at this rate, mate! 😂

Modern women don’t want a guy spending all day in a room posting negativity on the internet.

How are you going to provide for her if this is your full-time job?

Come on AIM… I hope you’re not feeding her tall stories as well! 😆

St. Elias had major success there!

Multiple high-grade veins, strong trenching results, and over 1,100+ tonnes extracted at an average approx. 32 g/t Au. The ground proved it can deliver serious gold.

Im reading about it. SHOCKING!!!

Worth looking into it if you hold this stock!!

Worth looking at the history of St. Elias Mines at Tesoro and how that relates to Nativo’s current Tesoro / Bonanza concession.

They had amazing success!

If they can get gold out then why cant we??!?!?!?!?!

The weather isn’t a major issue here. It might cause a slight delay at times, but the teams on the ground are used to working in these conditions and know how to work around them. It doesn’t affect the underlying resources or the progress being made.

All this weather talk just shows there’s nothing meaningful left to criticise, so people start nitpicking the rain. If that’s the biggest problem anyone can find, we’re in a good place.

Aim — seriously, mate, you need to get out a bit more. Meet people, enjoy life… you might even get lucky and meet a nice lady instead of worrying about Andean weather patterns all day.

Timelines can shift slightly. Things may happen a bit faster or a little slower. That's just life!! The key is that progress is being made, and a one or two week delay won’t change the long-term story. I’m invested for the medium to long term, looking at Phase 1, so my horizon is at least 6–12 months minium.