22nd Sep 2026 16:59
(Alliance News) - Nativo Resources PLC on Tuesday hailed "substantial operational and strategic progress" in the first half as it reported a narrowed pretax loss and advanced its plans to establish gold production and processing operations in Peru.
The Latin America-focused precious metals company recorded a pretax loss of USD507,942 for the six months ended June 30, narrowing from USD2.1 million a year earlier.
Nativo recorded no revenue during the period, unchanged from a year earlier, as it remained in the investment and development phase.
Operating loss widened 63% to USD1.3 million from USD791,547, but net finance income of USD786,220 more than offset it, compared with a net finance cost of USD1.3 million a year earlier.
During the period, underground work restarted at the Bonanza mine within the Tesoro gold concession in Peru. Nativo also published a maiden JORC-compliant exploration target for Tesoro of between 6,686 and 195,434 ounces of contained gold across four vein systems.
At the La Patona gold processing plant, Nativo completed front-end engineering design and the basis of design. Since the period end, it has secured USD3.5 million of project financing, subject to finalising documentation, alongside a GBP600,000 equity subscription to fund construction and commissioning of the first phase.
"The first half of 2026 was a period of substantial operational and strategic progress for Nativo. We advanced the company from a portfolio assembled around near-term Peruvian gold opportunities towards an integrated operating platform spanning primary mining, gold ore processing and the recovery of gold and silver from historical tailings," Nativo said.
Cash and cash equivalents stood at USD489,130 at June 30, down from USD1.8 million at December 31.
Looking ahead, Nativo said its immediate priorities are to construct and commission La Patona, progress underground development at Tesoro and pursue additional mining and processing opportunities.
"Construction of La Patona must be completed, project execution must be tightly-managed and operational milestones must translate into production and cash flow," Nativo said.
It added: "Real progress is being made, and we believe Nativo now has the foundations from which to build a meaningful, responsible and scalable gold business in Peru."
Shares in Nativo Resources closed 3.5% lower 0.38 pence per share on Tuesday in London.
By Niall Holden, Alliance News reporter
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