Business
Operational Update: Tesoro Gold Concession
Operational Update: Tesoro Gold Concession.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n26 March 2025\nNativo Resources Plc\n(\"Nativo\" or the \"Company\")\nOperational Update: Tesoro Gold Concession\n \nNativo Resources Plc (LON:NTVO), which has interests in gold mines in Peru, is pleased to note that the heavy rainfall in the mountainous Arequipa region appears to have abated as the wet season comes to an end. Efforts are underway to resume mining operations and ore sales. \nKey Points\n· No reported damage to the mine or camp\n· Intention to resume mining at Tesoro Gold Mine in the short term, using alternative access road\n· Community works to repair primary access road to begin in April\nOperational Update\nAs announced on 18 February 2025, operations at the Tesoro Gold Concession (\"Tesoro\") were paused due to unusually heavy rainfall, leading to a State of Emergency being declared in 20 regions of Peru. The extreme weather conditions caused significant damage to local infrastructure, including the primary access road to Tesoro which was practically washed away. An alternative access road, that is significantly longer, has now been restored through which all local mining traffic is being directed.\nCommunity works to reinstate the primary access road are anticipated to commence in April. Works will be undertaken by experienced local operators who are familiar with the process of efficiently restoring roads following heavy rainfall.\nA skeleton staff has been maintained onsite at Tesoro and there is no reported damage to the mine or camp. The operator is preparing to re-hire miners and restore a full staff to site. Full mining operations are expected to recommence at Tesoro using the longer access road and after the mine has been assessed and deemed safe to operate. The operator estimates that, subject to logistics, and the successful recruitment of qualified mining staff, mining should resume in short order with sales and cash flow from May. A furthe...