Nativo Resources (NTVO) H1 2026 earnings summary

Executive summary

• Advanced from a portfolio of near-term Peruvian gold opportunities to an integrated platform spanning mining, processing, and tailings recovery.

• Restarted underground work at Tesoro, published a maiden JORC Exploration Target, and advanced La Patona to construction-ready status.

• Secured new funding, including a £2.1m package and post-period project finance for La Patona.

• Entered a framework with Kuboc for additional mining and processing opportunities.

Financial highlights

• No revenue recorded for H1 2026; company remains in investment and development phase.

• Operating loss of US$1.29m for H1 2026, up from US$0.79m in H1 2025.

• Loss before tax improved to US$0.51m from US$2.07m year-over-year, due to net finance income.

• Cash and cash equivalents at 30 June 2026 were US$0.49m.

• Raised gross proceeds of c.£312,000 during the period and £683,000 after period end.

Outlook and guidance

• La Patona construction and commissioning targeted for Q2 2027, with secured project financing and equity subscription.

• Focus on completing La Patona, advancing Tesoro underground development, and converting tailings and Kuboc-sourced opportunities.

• Gold market outlook remains positive, with high prices and strong investment demand.