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Nativo Resources PLC on Monday said its half-year loss widened as it pressed ahead with gold mining and processing projects in Peru, including the acquisition of the Morrocota mine and securing a processing plant. The Latin America-focused exploration company formerly known as Echo Energy, with interests in precious metals mining and production in Peru, reported a pretax loss of $2.1 million in the six months to June 30, compared with a $688,434 loss a year before. Loss per share remained flat at 0.01 US cents. The wider loss reflected higher administrative expenses of $791,547 against $720,625 and increased finance costs of $1.3 million, more than double last year’s $416,034. No revenue was recorded during the half, compared with none a year earlier and $44,000 in financial 2024. During the period, Nativo said it restructured a £1 million loan, completed the purchase of the Morrocota gold mine adjacent to its Bonanza mine, and secured permits for the La Patona processing plant. It also signed an option agreement for the Toma La Mano tailings project. Post period-end, Nativo restructured a €10 million Eurobond into a 0% coupon convertible loan maturing in 2032, acquired the remaining 50% of Boku Resources to take full control of its Peru portfolio, and raised around £790,000 through share issues. The company also adopted a digital asset treasury policy in July, allowing it to allocate free cash flow and fundraising proceeds to purchases of Bitcoin. ‘Nativo has now fully repositioned itself as a small-scale gold miner in areas that offer the opportunity for near term production and cash flow, and the potential to rapidly build a resource inventory,’ said Executive Chair Christian Yates and Chief Executive Stephen Birrell. They added that the board believes Nativo is ‘well positioned in Peru to deliver growth’ following the milestones achieved so far in 2025. Nativo shares ended 2.4% higher at 0.56 pence in London on Monday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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