Nativo Resources plc (AIM: NTVO), the AIM-quoted precious metals company with gold mining and processing interests in Peru, has announced an exclusive Letter of Intent with La Joya Mining S.A.C. to evaluate a gold and silver tailings recovery opportunity in southern Peru. The LoI grants Nativo exclusivity through April 2027 and a right of first refusal through July 2027. The agreement advances one of the company's stated H2 2026 objectives of securing new tailings projects and expanding its pipeline of precious metals recovery opportunities in Peru.

Key Points

  • Nativo Resources plc (AIM: NTVO) — vertically integrated gold mining and processing business operating in Peru
  • Exclusive Letter of Intent signed with La Joya Mining S.A.C. to evaluate a gold and silver tailings recovery project in southern Peru
  • Exclusivity runs through April 2027; right of first refusal extends through July 2027; LJM's processing plant has a stated capacity of 350 tonnes per day
  • Investors should watch for initial independent metallurgical review findings expected in Q4 2026, which will determine the scope of further evaluation

La Joya Mining LoI Targets Historical Tailings and Ongoing Feed from 350-Tonne-Per-Day Processing Plant

The proposed partnership with La Joya Mining S.A.C. would see Nativo and its wholly owned Peruvian subsidiary, BOKU Resources S.A.C., evaluate and potentially develop a new plant at LJM's site in southern Peru. The opportunity encompasses both historical tailings and potential ongoing tailings supply from LJM's existing gold ore processing plant, which the announcement states has a capacity of 350 tonnes per day. Under the envisaged structure, Nativo and BOKU would fund plant design, construction and commissioning, while LJM would contribute its tailings together with access to infrastructure and site rights. Commercial terms for operation, based on gold production, remain to be agreed.

Independent Peruvian Metallurgical Consultancy Begins Review with Initial Findings Expected in Q4 2026

Nativo has engaged an independent Peruvian metallurgical consultancy to review available historical operating records and tailings data at the La Joya site. The company states that initial findings are expected in Q4 2026, which will guide the scope of any further evaluation work. The subsequent work programme may include sampling and metallurgical test work to address gaps in the historical data and establish the project's recovery potential. The announcement confirms that Nativo and BOKU are conducting due diligence at their own cost, supported by binding access, sampling and testing provisions within the LoI.

La Joya Project Fits Nativo's Three-Pillar Peru Strategy Alongside La Patona Plant and Tesoro Gold Mining

The La Joya opportunity forms part of Nativo's broader vertically integrated strategy, which combines primary gold mining, gold ore processing, and tailings recovery across its Peruvian portfolio. The company's nearest-term objectives also include completing construction of the La Patona Gold Ore Processing Plant and reestablishing gold production at its Tesoro project. Chief Executive Stephen Birrell noted in the announcement that tailings recovery offers the potential to create value from material that has already been mined and processed, while supporting improved environmental management of mine waste.

No Binding Transaction Obligation — Permitting, Financing and Technical Risks Remain Outstanding

The LoI is principally non-binding, with binding provisions limited to access and cooperation, exclusivity, right of first refusal, confidentiality and governing law. The announcement states explicitly that there is no binding obligation to proceed unless definitive agreements are signed, and no certainty that the project will advance. Any investment decision would be subject to satisfactory technical and commercial evaluation, definitive agreements, permitting and financing. Investors should note that counterparty, metallurgical and permitting risks all remain outstanding at this stage of evaluation.