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Echo Energy ( (GB:NTVO) ) has provided an announcement.
Nativo Resources Plc has announced updates regarding its acquisition of the Morrocota Gold Mine, with a revised and slightly lower acquisition cost than initially agreed. The company has delayed the investment by the Morrocota Vendors through a share subscription, resulting in the cancellation of the previous application for admission. However, a new application is anticipated soon, maintaining the previously agreed issue price. These developments mark significant steps in Nativo’s strategy to expand its gold mining operations in Peru and could potentially enhance its market positioning by securing new resources.
More about Echo Energy
Nativo Resources Plc is engaged in gold mining and exploration projects in Peru, holding a 50:50 joint venture in the Tesoro Gold Concession. The company aims to generate early cash flow and plans to commence production at the Morrocota Gold Mine by the end of Q1 2025. Nativo also holds the Ana Lucia Polymetallic concession and is exploring strategies to exploit tailings deposits for gold recovery.
YTD Price Performance: 10.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.46M
For an in-depth examination of NTVO stock, go to TipRanks’ Stock Analysis page.
