NTVO.L

Nativo Resources plc
Nativo Resources Plc - Revision to Morrocota Gold Mine Acquisition Terms
18th December 2024, 15:40
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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

Stephen Birrell, Chief Executive Officer

Via Vigo Consulting

nativo@vigoconsulting.com

 


Zeus (Nominated Adviser and Joint Broker)

James Joyce

James Bavister

 

Tel: +44 (0)20 3829 5000

 


Peterhouse Capital limited (Joint Broker)

Duncan Vasey

Lucy Williams
Rose Greensmith

Tel: +44 (0)20 7469 0930

 


Vigo Consulting (Investor Relations)

Ben Simons

Peter Jacob
Anna Sutton

Tel: +44 (0)20 7390 0234

nativo@vigoconsulting.com

 

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

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

 

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