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Echo Energy ( (GB:NTVO) ) just unveiled an announcement.
Nativo Resources Plc has announced a conditional fundraising effort to raise £400,000 through a placing and subscription of new ordinary shares. The proceeds will be used to enhance the company’s working capital and advance mine planning at the Tesoro Gold Concession in Peru. The fundraising is contingent on shareholder approval and the admission of new shares to trading on AIM. This move is expected to strengthen Nativo’s financial position and support its strategic focus on expanding its gold mining operations in Peru.
More about Echo Energy
Nativo Resources Plc is a gold-focused mining company with interests in Peru. The company engages in primary gold mining, gold ore processing, and the recovery of gold from tailings. Nativo has acquired or optioned several projects for development and plans to expand further. The company aims to scale operations at the Tesoro Gold Concession, focusing on the Bonanza and Morrocota mines, and intends to use portions of free cash flow and future fundraises for Bitcoin purchases as a long-term treasury reserve asset.
Average Trading Volume: 39,576,191
Technical Sentiment Signal: Sell
Current Market Cap: £1.9M
For a thorough assessment of NTVO stock, go to TipRanks’ Stock Analysis page.