Nativo Resources PLC (AIM:NTVO) shares saw active trading in early deals, swinging between 0.63p (a 7.5% decline) and 0.85p (a 25% gain), after it announced an acquisition to take full control of the Boku gold project in Peru.
The AIM-quoted firm on Wednesday told investors it has agreed to buy the 50% of Boku that it doesn’t already own, for no payable financial consideration.
Instead, Nativo will exchange its interest in REINFO (Registro Integral de Formalización Minera), which is a formalisation of artisanal and small-scale miners.
“Acquiring full control of Boku means Nativo can streamline its operations and opportunities in Peru,” said chief executive Stephen Birrell.
“We are very pleased with this outcome and look forward to resuming gold mining activities soon.”
Boku hold a package of gold assets. It comprises the Bonanza gold mine on the Tesoro gold concession, an option to recover and sell gold and silver from the Toma La Mano tailings dump, permits for a gold ore processing plant, and the Ana Lucia polymetallic project.
In London, following the early volatility, Nativo shares were up 11.1% changing hands at 0.75p, valuing the micro-cap gold stock at around £2.25 million.