REG - Nativo Resources Plc - Update on Morrocota Acquisition

Nativo ResourcesAnnouncement

16/12/2024 17:00

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RNS Number : 2887Q  Nativo Resources Plc  16 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.

 

16 December 2024

 

Nativo Resources Plc

("Nativo" or the "Company")

 

Update on Morrocota Acquisition and Cancellation of Application for Admission

Further to the RNS announcement dated 6 December 2024, Nativo Resources plc
(LON:NTVO), which has interests in gold mines in Peru, announces that further
discussions with the Morrocota Vendors have been taking place and it is now
anticipated that the overall consideration for the acquisition will be
slightly lower than originally agreed.

Accordingly, the Company also notes a delay to the investment in Nativo by the
Morrocota Vendors by way of a share subscription ("Subscription") as announced
on 6 December 2024. Application for admission of these shares has therefore
been cancelled, with a new application for admission expected to be made
shortly. The previously agreed Issue Price is expected to remain unchanged.

A further update on the revised consideration for the acquisition, as well as
confirmation of the Subscription, is expected to be made shortly.

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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