Nativo Resources plc has raised gross proceeds of £150,000 via a placing of 42,857,142 new ordinary shares of 0.15 pence each, at a price of 0.35 pence per share.
PERU
The placing price represents a premium of approximately 7.7%.
Following admission, Nativo’s total number of ordinary shares in the capital in issue will be 290,292,675, with voting rights.
Proceeds will provide general working capital for the company which has joint venture interests with local company Boku in gold projects in Peru.
Production from “formalised artisanal mining” began in 2024 from the Bonanza shaft at the Tesoro gold concession in the prolific Nazca-Ocona gold corridor, south of Lima in Arequipa.
Just 3km from Tesoro lies the Morocotta gold mine, 100% owned by Nativo, while 30km away lies a gold ore processing plant expected to be operational by the end of the year to support artisanal miners.
Nativo additionally has the Ana Lucia polymetallic concession in Ancash region, central Peru, and a tailings gold and silver recovery project in the Huaraz area in the north of the country.
The company also has a 5% interest in the Santa Cruz Sur, comprising five oil and gas production concessions located in the onshore Austral Basin, southern Argentina
Nativo states it intends to buy Bitcoin using portions of free cash flow from mining, processing and future fundraises.
The company will hold its Bitcoin purchases as a “long-term treasury reserve asset”.