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Nativo Resources PLC on Thursday reported a new at-the-market facility of up to £5 million to replace its existing facility. London-based Nativo is focused on gold mining and processing in Peru. The new ATM facility is with Axis Capital Markets Ltd, and replaces a facility announced back in November. In connection to the facility, Nativo has appointed Axis as its joint broker, alongside Zeus Capital. Under the ATM, Nativo will issue shares of nominal value to an FCA-regulated custodian appointed by Axis. These shares will be allotted and issued in tranches. The initial tranche will see Nativo issue Axis with 120.0 million ATM shares, representing just under 15% of the enlarged company. Axis will sell the ATM shares over the term of the facility - a minimum of one year. Share sales cannot exceed 3% of capital in a single day, and will be subject to a company-set floor price, limits on daily volumes as well as a maximum discount of no more than 5%. Nativo shares fell 25% to 0.28 pence on Thursday afternoon in London. The facility is intended as ‘a flexible mechanism to seek to issue new shares and raise capital at prevailing market prices’, Nativo explained, ultimately enabling the company to repay amortisation on a convertible loan note announced in November. It also offers ‘further investment funds for the development of operations in Peru’, Nativo said. The company updated on operations at the Bonanza gold mine, where galleries and shafts are being developed for production, with the first sale of stockpiled vein material expected in May. Nativo also followed up with ‘additional context’ for notice given on Wednesday of a general meeting, where shareholders will vote on authorities to allot shares and disapply pre-emption rights. The company is seeking approval of resolutions to facilitate the CLN agreed in November, as it must maintain the headroom required to issue shares should the lender convert their notes into equity. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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