Nativo Resources (AIM:NTVO) shares traded lower on Monday, falling 12% to 0.23p, after the company shifted Tesoro development to high-grade targets.
It follows a 186-channel-sample programme that confirmed multiple high-grade shoots.
The company extracted approximately 46 tonnes of mineralised vein material from the Bonanza Vein during a recent three-month period, stockpiled for future processing, but has now completed this initial phase and will redirect capital and labour toward zones offering better grade continuity.
A two-week structural mapping programme begins immediately, designed to refine fault controls and optimise positioning of a new shaft targeted to around 20 metres depth, providing access to what the company considers its highest-priority mineralised zone.
At the La Patona Gold Ore Processing Plant, engineering design, equipment scheduling and detailed project costings are complete, and the company has received a commercial offtake offer from a major commodities trading house, currently under evaluation.
Advanced financing discussions with multiple potential funding partners are ongoing, and construction cannot begin until that process concludes.
Initial throughput is planned at approximately 70 tonnes per day, targeting a blended feed grade of between 15 and 20 grammes per tonne of gold, drawing from both Tesoro stockpiles and regional third-party miners.
Commissioning and first gold production remain targeted for the fourth quarter of 2026.
