Operations Update: Gold Ore Processing Plant
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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.
26 February 2026
Nativo Resources Plc
("Nativo" or the "Company")
Operations Update: Gold Ore Processing Plant
Nativo Resources plc (LON: NTVO), which is focused on near-term gold mining and processing projects in Peru, is pleased to provide an update on progress at La Patona Gold Ore Processing Plant ("GOPP"), located in Acari, about 45km from the Company's Tesoro Gold Concession.
Final contracts have been signed with the owner of the part-built GOPP. These agreements grant the Company, via its wholly owned Peruvian subsidiary, the right to manage, design, complete and operate the part-built processing plant on the site, utilising the existing permits. Negotiation of these agreements with the plant owner has taken longer than originally anticipated and has therefore delayed the start of site works by up to 15 weeks.
The GOPP, when completed, will occupy an area of approximately 15 hectares. The engineering, procurement, and construction ("EPC") of the GOPP will be undertaken by a specialist contractor. Three potential contracts are under close consideration by Nativo, and the Company will provide an update in due course once an EPC contractor has been appointed.
As previously announced, the GOPP will be designed and constructed as a dual circuit flotation and cyanidation operation, incorporating a smelter to produce gold doré bars. The total solids throughput for Phase 1 is designed at 220 tonnes per day. The flotation circuit will operate in series with the cyanidation circuit, which has a capacity of 70 tonnes per day, with a pull ratio of 15 in the flotation circuit to maximise recovery.
Based on refined plans, prepared by the Company's metallurgy advisor and expected head grades of up to 5 g/t gold for the flotation circuit and a blended head grade of between 23 and 25 g/t gold for cyanidation, the GOPP at full capacity is expected to recover between 1.4 kg to 1.7 kg / gold per day, subject to availability of sufficient material to be processed. The GOPP's design also provides flexibility for potential future expansion and throughput scale-up.
On-site metallurgy and assaying will be conducted in a purpose-built laboratory unit, enabling the assaying of third-party ore.
Nativo anticipates that construction and commissioning of the GOPP will be completed by H2 of 2026 and will cost an estimated $1.8 million.
Once an EPC contractor has been selected, Nativo's Processing Engineer, Bernardino Alegría Aragón, will oversee the construction, commission, and day-to-day operations of the GOPP.
Bernardino brings more than 30 years of hands-on experience in mineral processing engineering, plant design, commissioning, and operations across gold and copper projects worldwide. His expertise encompasses detailed process engineering for feasibility studies, mill design and construction, plant instrumentation, metallurgical testing, and commissioning through to capacity ramp up and optimisation. He has extensive practical experience in gold ore processing through to production, including CIP and CIL circuits, cyanide destruction, metallurgical accounting, and operational optimisation, together with copper flotation plant design and operation.
Bernardino has held senior leadership roles including Process Engineering Leader, Commissioning Leader, Mill Superintendent, Senior Metallurgist, and Project Engineer with internationally recognised organisations such as Ausenco, FLSmidth, B2Gold, and First Quantum Minerals.
Stephen Birrell, Chief Executive Officer of Nativo, commented:
"We are encouraged by the progress achieved to date at the GOPP. We have full confidence that the next phase of work will be expertly led by Bernardino Alegría Aragón, whose proven track record in commissioning through to bullion production, strong cost discipline, and experience operating within the Peruvian mining environment, make him a key asset to Nativo as it advances its gold ore processing strategy. We look forward to progressing the remaining pre-construction works and moving toward the construction and commissioning of our own gold ore processing plant in the second half of this year. This represents a compelling opportunity, particularly in light of the strong global demand for gold."
For further information please contact:
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Nativo Resources Stephen Birrell, Chief Executive Officer |
Via Vigo Consulting |
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Zeus (Nominated Adviser and Joint Broker) James Joyce James Bavister |
Tel: +44 (0)20 3829 5000 |
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AlbR Capital Limited (Joint Broker) Duncan Vasey Lucy Williams |
Tel: +44 (0)20 7469 0930 |
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Vigo Consulting (Investor Relations) Ben Simons Peter Jacob |
Tel: +44 (0)20 7390 0234 |
About Nativo Resources plc
Nativo has interests in gold projects in Peru. The Company's strategy is based on three core activities: primary gold mining, gold ore processing, and the recovery of gold from tailings. The Company has already acquired or optioned several projects for development and has identified additional opportunities for expansion. Nativo's nearest-term objective is to scale operations on the Tesoro Gold Concession, focusing on the Bonanza and Morrocota mines. Nativo intends to allocate portions of free cash flow from mining and processing activities and future fundraises to Bitcoin purchases, and to hold Bitcoin as a long-term treasury reserve asset.
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