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Echo Energy ( (GB:NTVO) ) has shared an update.
Nativo Resources plc has issued 473,684,210 new ordinary shares to creditors instead of cash payments, as part of a strategy to preserve cash and support its growth strategy. This issuance, priced at the closing mid-market price, aims to improve the company’s balance sheet. The new shares are expected to be admitted for trading on AIM by February 5, 2025. This move is part of Nativo’s broader efforts to scale operations in Peru, particularly at the Tesoro Gold Concession and the Morrocota Gold Mine, with plans for future expansion and increased margins through establishing its own processing plant.
More about Echo Energy
Nativo Resources plc is engaged in gold mining and exploration projects in Peru, with interests in the Tesoro Gold Concession through a 50:50 joint venture and a 100% interest in the Morrocota Gold Mine. The company also holds the Ana Lucia Polymetallic concession and is exploring strategies to exploit tailings deposits for gold recovery.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.41M
See more insights into NTVO stock on TipRanks’ Stock Analysis page.
