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Echo Energy ( (GB:NTVO) ) just unveiled an announcement.
Nativo Resources Plc has announced the conversion of £30,000 worth of convertible loan notes into 19,906,032 new ordinary shares, which will be admitted to trading on AIM. This move increases the company’s total voting rights to 184,399,766 ordinary shares. The issuance of new shares reflects Nativo’s ongoing efforts to strengthen its financial position and support its strategic objectives, including scaling operations in Peru and investing in Bitcoin as a treasury reserve asset. This development is expected to impact shareholder calculations regarding their interests in the company.
More about Echo Energy
Nativo Resources Plc is a gold-focused mining company with interests in Peru. The company’s strategy revolves around primary gold mining, gold ore processing, and the recovery of gold from tailings. Nativo has acquired or optioned several projects for development and aims to expand further. Their immediate goal is to scale operations on the Tesoro Gold Concession, particularly focusing on the Bonanza and Morrocota mines. Additionally, Nativo plans to allocate portions of free cash flow and future fundraises to Bitcoin purchases, holding Bitcoin as a long-term treasury reserve asset.
Average Trading Volume: 12,148,634
Technical Sentiment Signal: Strong Sell
Current Market Cap: £370.1K
See more insights into NTVO stock on TipRanks’ Stock Analysis page.