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.
18 December 2024
Nativo Resources
Plc
("Nativo"
or the "Company")
Revision to Terms of
Morrocota Gold Mine Acquisition
Further to the RNS
announcements dated 6 December 2024 and 16 December 2024, Nativo
Resources plc (LON:NTVO), which has interests in gold mines in
Peru, announces certain modifications to the terms of the Company's
agreement to acquire the Morrocota Gold Mine.
The consideration for the
acquisition will now be approximately £115,885 (instead of the
previously announced £124,557), satisfied by the issue and
allotment on Completion (expected in March 2025), of 4,030,779,249
new ordinary shares in the Company at a price of £0.0000288 per
share.
All other terms remain
unchanged.
The investment in Nativo by the
Vendors by way of a share subscription as announced on 6 December
2024 will also be made at Completion.
Application for admission of the
Consideration Shares and Subscription Shares to trading on AIM will
be announced and made on Completion.
Unless otherwise defined,
capitalised terms in this announcement shall have the same meaning
as in the 6 December 2024 announcement.
For
further information please contact:
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Nativo
Resources
Stephen Birrell, Chief Executive
Officer
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Via Vigo Consulting
nativo@vigoconsulting.com
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Zeus
(Nominated Adviser and Joint Broker)
James Joyce
James Bavister
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Tel: +44 (0)20 3829 5000
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Peterhouse
Capital limited (Joint Broker)
Duncan Vasey
Lucy Williams
Rose Greensmith
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Tel: +44 (0)20 7469 0930
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Vigo
Consulting (Investor Relations)
Ben Simons
Peter Jacob
Anna Sutton
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Tel: +44 (0)20 7390 0234
nativo@vigoconsulting.com
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About Nativo
Resources plc
Nativo has interests in gold mining and
exploration projects in Peru. Through a 50:50 joint venture
established in July 2024 with an experienced local partner, Nativo
secured an opportunity to scale operations at the Tesoro Gold
Concession, owning 50% of the production and resources, targeting
early cash flow generation in Q4 2024. In December 2024, Nativo
agreed to acquire directly a 100% interest in the Morrocota Gold
Mine, proximal to the Tesoro Gold Concession. Production from
Morrocota is anticipated to commence by the end of Q1 2025.
Longer-term, the Company plans to establish its own gold ore
processing plant to retain a higher margin from production at its
mines.
In addition to primary gold mining projects,
the Company also holds the Ana Lucia Polymetallic concession and is
investigating low capex strategies to appraise and exploit tailings
deposits to recover gold.
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