REG - Nativo Resources Plc - Operations & Bond Restructuring Updates

Nativo ResourcesAnnouncement

03/07/2025 07:00

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RNS Number : 5054P  Nativo Resources Plc  03 July 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.

 

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 tailings project, will be
determined in consultation with the new Vice President for Tailings in due
course.

 

 

Bond restructuring proposals update

 

Further to the publication of the bond restructuring Proposals announced on 20
May 2025, while the resolutions would have been carried on a count of votes,
the level of voting instructions received for the meeting of the Noteholders
held on 30 June 2025 to consider the Proposals (the "Noteholder Meeting") was
insufficient for the Noteholder Meeting to be quorate. The required quorum was
25% of the aggregate principal amount of the outstanding Notes and only 21%
was reached. The Noteholder Meeting was therefore adjourned.

 

The adjourned Noteholder Meeting to consider the Proposals in unchanged form
will now be held on 30 July 2025 at the offices of Peterhouse Capital Limited,
80 Cheapside, London, EC2V 6EE, United Kingdom (the "Adjourned Noteholder
Meeting").

 

Voting instructions already lodged by Noteholders remain valid for the
Adjourned Noteholder Meeting and the relevant Noteholders need take no further
action to be represented at the Adjourned Noteholder Meeting. For those
Noteholders who have not already submitted their vote, the Company encourages
them to engage with their custodian and vote.

 

A circular providing Noteholders with notice of the Adjourned Noteholder
Meeting will be sent to Noteholders shortly and will be available from the
Company's website at www.nativoresources.com (http://www.nativoresources.com)
and will be published on the Eurostream and Clearstream clearance systems.

 

( )

For further information please contact:

 Nativo Resources                                   Via Vigo Consulting

 Stephen Birrell, Chief Executive Officer           nativo@vigoconsulting.com (mailto:nativo@vigoconsulting.com)
 Zeus Capital (Nominated Adviser and Joint Broker)

 James Joyce                                        Tel: +44 (0)20 3829 5000

 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. 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 also 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. In April 2025,
Nativo acquired directly a 100% interest in the Morrocota Gold Mine, proximal
to the Tesoro Gold Concession.

 

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)

 

 

Qualified Persons Statement

 

The scientific and technical information contained within this announcement
has been reviewed and approved by Victor Sánchez, a geologist with over 20
years' experience, who holds a Post Graduate degree in Geology. Dr. Víctor
Sánchez Paucar is a member of the Colegio de Ingenieros del Perú (CIP)
 (Professional Peruvian Engineering Association) with registration number CIP
111545. He is a Qualified Person as defined by the AIM Guidance Note on Mining
and Oil & Gas Companies dated June 2009.

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