Nativo Resources (NTVO) H1 2025 earnings summary

Executive summary

• Repositioned as a small-scale gold miner in Peru, focusing on near-term production and cash flow from Bonanza and Morrocota mines.

• Completed acquisition of Morrocota Gold Mine and secured permits for La Patona processing plant.

• Raised approximately £544,000 during the period and an additional £790,000 post-period via share issues.

• Restructured £1 million Spartan Loan and later a €10 million Eurobond to a 0% coupon convertible loan maturing in 2032.

• Adopted a Digital Asset Treasury policy to allocate free cash flow and future funds to Bitcoin as a long-term reserve.

Financial highlights

• Revenue for the six months ended 30 June 2025 was $44,000, compared to $0 in the same period last year.

• Operating loss for the period was $1,588,371, up from $720,625 year-over-year.

• Net loss for the period was $2,025,351, compared to $688,434 in the prior year period.

• Cash and cash equivalents increased to $195,074 at period end, up from $3,353 at 30 June 2024.

• Share capital increased to $19,967,619 and share premium to $86,846,570 as of 30 June 2025.

Outlook and guidance

• Focus remains on scaling operations at Tesoro Gold Concession and bringing new projects into production within 12 months.

• Ongoing efforts to secure further funding to support operations through June 2026.

• Targeting early profitability and growth through acquisition of cash-generative mining assets.