RNS3 Jul 2025 07:04
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
3 July 2025
Nativo Resources Plc
("Nativo" or the "Company")
Operations & Bond Restructuring Updates
Nativo Resources plc (LON:NTVO), which has interests in gold mines in Peru, provides the following updates on operations and on previously announced bond restructuring proposals.
Bonanza and Morrocota gold mines
Further to the announced award of an engineering and geological contract to Inveritas Global Holdings Ingenieria S.A. ("IGH"), a leading engineering and geological consultancy in Peru, Nativo is now able to report the following information arising from the report which was carried out in June.
The internal resource estimate for the Tesoro Gold Concession (originally announced on 1 July 2024) has been increased to approximately 213,000 ounces of contained gold (previously 73,000 ounces), with 51,000 ounces being attributed to the Bonanza and Morrocota mines alone.
References to resource estimates in this announcement are solely an internal estimate at this stage. Such estimates do not constitute resources as defined by any specific mining code (such as JORC) and there is no guarantee that they ever will do. These internal resource estimates are presented only to illustrate the potential scale of the project and as such should not be relied upon for any economic forecasts. Further work and analysis would need to be undertaken to seek to have these internal estimates stated as resources to a JORC or other recognised standard.
A further month of fieldwork, sampling and modelling studies has been defined with IGH and is required to prepare mine plans for Bonanza and Morrocota. The Company anticipates it will be able to restart production at Tesoro and initiate production at Morrocota approximately two months after completion of the mine plan, subject to the outcome of the study and engagement of a contract mining firm.
Peru operations management
Nativo is pleased to announce the appointment of a highly experienced Operations Director to the Peruvian based team. Jorge Pinedo has a background in operations and production and is a Peruvian national with international experience who will oversee the Company's operations in Peru.
In addition, in order to accelerate the development of the tailings cleaning opportunity in Peru, Nativo is in discussions to appoint a Vice President of Tailings for Peru, reporting to Mr Pinedo, who will help accelerate the growth of the tailings deposit inventory. The final award of a feasibility study contract for Toma La Mano, the first optioned tai
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