Nativo Resources (LSE:NTVO) has announced strong underground sampling results from the Bonanza Vein at its Bonanza Gold Mine in Peru, highlighting the presence of a plunging high-grade ore shoot. Assays from the programme returned grades of up to 40.2 g/t gold, with several channel samples recording values above 5–10 g/t. The campaign included 147 channel samples and is consistent with historical high-grade results from the deposit.
The findings support plans to restart underground development at the site and reinforce the company’s strategy of targeting high-grade zones through selective mining methods designed to limit dilution. Nativo also noted that the results point to additional exploration opportunities both along the vein’s strike and at greater depths.
Despite the encouraging operational update, the company’s broader outlook remains constrained by weak financial fundamentals, including ongoing losses, negative equity, relatively high leverage compared with assets and continued cash burn. While technical indicators show some support following a recent short-term rebound in the share price, momentum appears stretched and the stock remains below its 200-day moving average. Valuation metrics are also pressured by negative earnings and the absence of dividend support.
More about Nativo Resources
Nativo Resources Plc is a London-listed mining company focused on advancing near-term gold mining and processing operations in Peru. Its flagship project is the Bonanza Gold Mine, where the company is developing high-grade underground gold veins and plans to process ore using conventional methods suitable for fine-grained gold mineralisation.
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