Agreement to Evaluate Gold-Silver Tailings Project
Summary by AI BETAClose X
11 November 2026
Nativo Resources plc
("Nativo" or the "Company")
Agreement to Evaluate Gold-Silver Tailings Project, Peru
Exclusive Letter of Intent with La Joya Mining for gold and silver tailings project in Peru
Nativo Resources plc (AIM: NTVO), the precious metals company with gold mining and processing interests in Peru, announces progress in its evaluation of a further tailings recovery opportunity in southern Peru (the "Project"). Under a Letter of Intent ("LoI"), Nativo and its wholly owned Peruvian subsidiary, BOKU Resources S.A.C. ("BOKU"), are evaluating a potential partnership with La Joya Mining S.A.C. ("LJM") covering historical tailings and potential ongoing feed from LJM. An independent review of the available operating and tailings data has commenced.
Highlights
• Advances Nativo’s stated H2 2026 objective of securing new tailings projects and expanding its pipeline of gold and silver recovery opportunities in Peru.
• The LoI provides for exclusivity through April 2027 and a right of first refusal through July 2027, to support evaluation and negotiation of a potential partnership.
• Opportunity encompasses historical tailings and potential ongoing feed from the existing LJM gold ore processing plant, with a stated capacity of 350 tonnes per day.
• Independent review under way to assess the available data and guide further evaluation, including sampling and test work as required.
La Joya opportunity
The Project offers an opportunity to recover gold and silver from material that has already been processed at LJM’s facility, with potential for ongoing tailings supply from the operating gold ore processing plant. It supports Nativo’s strategy of combining primary gold mining, gold ore processing and tailings recovery to build a diversified precious metals business in Peru.
The LoI envisages a potential partnership to develop and operate a new plant at LJM’s site, processing historical tailings and ongoing tailings from LJM’s operating gold ore processing plant. Nativo and BOKU would fund plant design, construction and commissioning, while LJM would contribute its tailings, and access to infrastructure and site rights. Commercial terms for operation, based on gold production, remains to be agreed. Nativo, through the wholly owned subsidiary BOKU, are undertaking due diligence at their own cost, supported by binding access, sampling and testing provisions, within the LoI.
Work programme
An independent Peruvian metallurgical consultancy has commenced a review of the available historical operating records and tailings data. Initial findings are expected in Q4 2026 and will help determine the scope of further evaluation.
The work programme will be developed as the available information is assessed and may include sampling and metallurgical test work to address gaps in the historical data and establish the project’s recovery potential. The scope and timing of subsequent studies will depend on the findings. Any investment decision would be subject to satisfactory technical and commercial evaluation, definitive agreements, permitting and financing.
Stephen Birrell, Chief Executive Officer, Nativo, commented:
“La Joya is a further step in delivering the strategy we have set out to shareholders. Advancing a new tailings project is one of our stated objectives for the second half of 2026, and this opportunity brings together historical deposits and potential ongoing tailings supply from the existing processing plant.
Tailings recovery offers the potential to create value from material that has already been mined and processed, while supporting improved environmental management of mine waste. With the initial study under way, we are moving this opportunity forward and building the pipeline alongside our mining and processing activities in Peru.”
The LoI is principally non-binding, with binding provisions covering access and cooperation, exclusivity, a right of first refusal, confidentiality, governing law and certain miscellaneous matters. There is no binding obligation to proceed with a transaction unless definitive agreements are signed, and there is no certainty that the Project will proceed. Nativo will provide further updates as the evaluation progresses.
Forward-looking statements
This announcement contains forward-looking statements that are subject to risks and uncertainties, including technical, metallurgical, permitting, financing and counterparty risks. Actual results may differ materially.
This announcement contains inside information for the purposes of Article 7 of UK MAR. The person responsible for arranging its release is Stephen Birrell, Chief Executive Officer.
Enquiries:
Investor questions on this announcement:
We encourage investors to share questions via our investor hub: https://www.nativoresources.com/link/eYOzWP
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Nativo Resources Stephen Birrell, Chief Executive Officer |
Via Vigo Consulting |
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Strand Hanson Limited (Nominated & Financial Adviser) Rory Murphy Matthew Chandler Abigail Wennington |
Tel: +44 (0)20 7409 3494
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Hybridan LLP (Joint Broker) Claire Noyce
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Tel: +44 (0)20 3764 2341
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Axis Capital Markets (Joint Broker) Richard Hutchison
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Tel: +44 (0)20 3026 0320
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Vigo Consulting (Investor Relations) Ben Simons George Pope |
Tel: +44 (0)20 7390 0234 |
About Nativo Resources Plc
Nativo is establishing itself as a vertically integrated gold mining and processing business in Peru. Its strategy is based on three core activities: primary gold mining, gold ore processing, and the recovery of gold and silver from tailings. The Company is developing a portfolio of projects and evaluating further opportunities to expand its operations. Its nearest-term objectives include completing construction of La Patona Gold Ore Processing Plant to process Nativo’s own and third-party material, reestablishing gold production at Tesoro and advancing a pipeline of tailings reprocessing opportunities.
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