REG - Nativo Resources Plc - Revision to Morrocota Gold Mine Acquisition Terms

Nativo ResourcesAnnouncement

18/12/2024 15:45

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RNS Number : 6375Q  Nativo Resources Plc  18 December 2024

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:

 

 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, 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.

 

Follow us on social media:

 

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

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

 

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