In July 2024, Nativo formed a 50:50 joint venture in Peru with an experienced local partner for precious metals (gold/silver) mining and processing of gold ore (own and third party production) and the cleaning of known tailings deposits containing Measured and Indicated resources of gold and silver. Through the JV, known as Boku Resources, Nativo has secured an opportunity to scale operations in Peru, owning 50% of the production and resources.
Initially, Boku is establishing formalised artisanal and small mining operations on its 100% held Tesoro Gold concession, southern Peru, targeting early cash flow generation in Q4 2024. Nativo plans to establish its own gold ore processing plant and, longer-term, to pursue its low capex strategies to appraise and exploit tailings deposits to recover gold, as well as developing the Ana Lucia polymetallic concession.