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Echo Energy ( (GB:NTVO) ) has shared an update.
Nativo Resources plc has successfully raised £150,000 through a placing of new ordinary shares, conducted by Peterhouse Capital Limited, at a premium price. This capital raise is intended to provide general working capital for the company. The new shares are expected to be admitted to trading on AIM by 8 August 2024, increasing the total number of ordinary shares to 290,292,675. This move is likely to support Nativo’s ongoing projects and expansion plans in Peru, potentially enhancing its market position and offering growth opportunities for stakeholders.
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 is focused on scaling operations on the Tesoro Gold Concession, particularly the Bonanza and Morrocota mines. The company also plans to allocate portions of its free cash flow and future fundraises to Bitcoin purchases as a long-term treasury reserve asset.
Average Trading Volume: 17,008,471
Technical Sentiment Signal: Strong Sell
Current Market Cap: £534.6K
See more insights into NTVO stock on TipRanks’ Stock Analysis page.