Nativo Resources (NTVO) H2 2025 earnings summary

Executive summary

• Transitioned from early-stage activity to cash-generative gold production in Peru, focusing on Tesoro, Bonanza, and Morrocota mines.

• Acquired full ownership of Boku and Morrocota, consolidating Peruvian operations.

• Advanced plans for in-house gold ore processing and evaluated tailings recovery opportunities.

• Strengthened balance sheet through debt restructuring, new funding, and equity issuances.

Financial highlights

• Group loss from continuing operations was $4.5 million for 2025, compared to $2.1 million in 2024.

• Revenue from continuing operations was nil in 2025, down from $44,000 in 2024.

• Administrative expenses increased to $2.3 million from $1.4 million year-over-year.

• Net finance costs rose to $2.1 million from $0.7 million year-over-year.

• Cash at year-end was $1.81 million, up from $0.05 million in 2024.

Outlook and guidance

• Focus on converting Bonanza readiness into sustained production and advancing La Patona GOPP into construction and commissioning.

• Plans to progress value-accretive opportunities at Morrocota and in tailings recovery, aligned with funding and permitting.

• Board remains cautious about operational and market risks but sees a credible pathway to value creation.