Nativo signs LoI with Chancery Royalty for La Patona gold plant funding

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Nativo Resources has signed a conditional letter of intent with Chancery Royalty for project finance and an equity subscription to complete construction and commissioning of phase one of the La Patona Gold Ore Processing Plant in Acarí, Peru. Under the terms, Nativo is expected to receive $3.5m, or £2.62m, in project finance paid through seven equal monthly instalments of $500,000 each, with the first instalment due no later than 31 December 2026 subject to definitive documentation. A separate equity subscription valued at £600,000 will be completed in two stages: a first tranche of 142,857,143 new ordinary shares at 0.21p each to raise £300,000, expected to complete 60 days after the agreement, and a second tranche of an identical number of shares to be settled by the end of September 2026, together granting the new investors a combined 17.4% stake in Nativo's enlarged issued share capital. In return, Chancery will receive a 6% gross revenue share on gold produced at La Patona until receipts equal 3,034 troy ounces of gold. Nativo CEO Stephen Birrell said the agreement provides a clear and fully funded pathway to complete construction and commissioning of La Patona Phase 1, and the company expects the 70 tonnes per day plant to take approximately five to six months to build and commission once resumed, with commissioning targeted for the second quarter of 2027 and future expansions to 350 tonnes per day funded from phase one cash flow.

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