REG - Nativo Resources Plc - Operational Update: Tesoro Gold Concession

Nativo ResourcesAnnouncement

26/03/2025 07:16

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RNS Number : 1466C  Nativo Resources Plc  26 March 2025

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.

26 March 2025

Nativo Resources Plc

("Nativo" or the "Company")

Operational Update: Tesoro Gold Concession

 

Nativo Resources Plc (LON:NTVO), which has interests in gold mines in Peru, is
pleased to note that the heavy rainfall in the mountainous Arequipa region
appears to have abated as the wet season comes to an end. Efforts are underway
to resume mining operations and ore sales.

Key Points

·    No reported damage to the mine or camp

·    Intention to resume mining at Tesoro Gold Mine in the short term,
using alternative access road

·    Community works to repair primary access road to begin in April

Operational Update

As announced on 18 February 2025, operations at the Tesoro Gold Concession
("Tesoro") were paused due to unusually heavy rainfall, leading to a State of
Emergency being declared in 20 regions of Peru. The extreme weather conditions
caused significant damage to local infrastructure, including the primary
access road to Tesoro which was practically washed away. An alternative access
road, that is significantly longer, has now been restored through which all
local mining traffic is being directed.

Community works to reinstate the primary access road are anticipated to
commence in April. Works will be undertaken by experienced local operators who
are familiar with the process of efficiently restoring roads following heavy
rainfall.

A skeleton staff has been maintained onsite at Tesoro and there is no reported
damage to the mine or camp. The operator is preparing to re-hire miners and
restore a full staff to site. Full mining operations are expected to
recommence at Tesoro using the longer access road and after the mine has been
assessed and deemed safe to operate. The operator estimates that, subject to
logistics, and the successful recruitment of qualified mining staff, mining
should resume in short order with sales and cash flow from May. A further
announcement will be made once mining operations have recommenced.

Stephen Birrell, Chief Executive Officer of Nativo, commented:

"I am pleased to report that the heavy rainfall appears to have ended, and the
mine and camp are intact. Local works to restore the shorter access route
should begin shortly, while the longer route is now in operation. There are
numerous local stakeholders with an interest in bringing the shorter road
swiftly back into working order and so we are confident they will waste no
time in doing so. In the meantime, our operator is getting underway in terms
of re-hiring the workforce with a view to resuming operations next month,
targeting high grade gold at Tesoro's Bonanza shaft."

For further information please contact:

 

 Nativo Resources                           Via Vigo Consulting

 Stephen Birrell, Chief Executive Officer   nativo@vigoconsulting.com (mailto:nativo@vigoconsulting.com)

 Zeus (Nominated Adviser and Joint Broker)  Tel: +44 (0)20 3829 5000

 James Joyce

 James Bavister

 Peterhouse Capital limited (Joint Broker)  Tel: +44 (0)20 7469 0930

 Duncan Vasey

 Lucy Williams

Rose Greensmith

 Vigo Consulting (Investor Relations)       Tel: +44 (0)20 7390 0234

 Ben Simons                                 nativo@vigoconsulting.com (mailto:nativo@vigoconsulting.com)

 Peter Jacob

Anna Sutton

 

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 ("Boku"), Nativo secured an opportunity to scale operations at the
Tesoro Gold Concession, owning 50% of the production and resources. Production
and sales of ore to a local gold ore processing plant began in late December
2024.

 

In December 2024, Nativo also 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 early Q3 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 March 2025, Boku secured an option agreement to evaluate the opportunity to
recover and sell gold and silver from the Toma La Mano tailings dump in the
Ancash region and redeposit the tailings in line with legislation. The Company
is investigating other similar regional tailings opportunities.

 

Follow us on social media:

 

LinkedIn: https://uk.linkedin.com/company/nativoresources-plc
(https://uk.linkedin.com/company/nativoresources-plc)

X: https://x.com/nativoresources (https://x.com/nativoresources)

 

 

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