Director Disclosures - AIM Rule 17 & Schedule 2(g)

This is a regulatory update, not an investable signal—no new financials or operational proof.

Risk flags

• ●Operational opacity: The announcement contains no operational data—no production, reserves, or project-level metrics—making it impossible to assess the viability or progress of Nativo’s gold projects. This lack of transparency is a major red flag for investors seeking to understand the company’s actual business.
• ●Financial non-disclosure: There are no financial statements, cash balances, or funding details for Nativo itself. Without this information, investors cannot gauge solvency, capital needs, or runway, which is especially concerning in a capital-intensive sector like mining.
• ●Director track record risk: Both the Executive Chair (Christian Yates) and CEO (Stephen Birrell) are disclosed as having been directors of companies that entered administration or liquidation with significant unpaid creditor claims (£2.34m, £0.64m, £1.62m). While not a direct indictment, this pattern raises questions about management’s ability to steward capital and avoid insolvency.
• ●Forward-looking bias: The majority of positive claims (expansion, scaling operations) are entirely forward-looking, with no supporting evidence or timelines. This means investors are being asked to buy into a story, not a demonstrated track record.
• ●Regulatory disclosure focus: The announcement is driven by AIM Rule 17 and Schedule 2(g) requirements, not by voluntary transparency or investor engagement. This suggests the company is reacting to compliance obligations rather than proactively building investor trust.
• ●Geographic and jurisdictional risk: Nativo’s projects are in Peru, but the company is listed in the United Kingdom. This cross-border structure can introduce legal, political, and operational risks, especially in the absence of detailed disclosure about local partners, permits, or regulatory status.
• ●No evidence of capital raised or institutional support: There is no mention of recent financings, cornerstone investors, or strategic partnerships. The absence of such signals means the company may struggle to fund its stated objectives.
• ●Execution risk: With no disclosed milestones, budgets, or operational plans, the risk that stated objectives (like scaling Tesoro) are delayed or never realized is high. Investors have no way to monitor progress or hold management accountable.

Bottom line

For investors, this announcement is a regulatory formality, not a substantive update on Nativo Resources Plc’s business or prospects. The company provides no new financials, operational data, or evidence of progress on its gold projects in Peru. The only detailed disclosures relate to director histories with other companies that have entered administration or liquidation, which, while required, do not inspire confidence in management’s track record. There is no mention of institutional investment, capital raises, or strategic partnerships that might validate the company’s ambitions or provide a funding runway. To change this assessment, Nativo would need to disclose concrete operational milestones (such as production rates, reserves, or project timelines), financial statements, and evidence of capital raised or committed. Investors should watch for the next reporting period to see if the company provides any of these missing metrics or signs of execution. Until then, this announcement should be treated as a compliance-driven disclosure with no actionable investment signal. The most important takeaway is that, absent hard data or operational proof, there is no basis for a positive investment thesis—monitor for real progress, but do not act on narrative alone.

Announcement summary

(LON:NTVO) Nativo Resources Plc, the precious metals company with gold mining and processing interests in Peru, provided an update pursuant to AIM Rule 17 and Schedule 2(g) of the AIM Rules for Companies. Christian Yates, the Company's Executive Chair, is currently a director of Away Birmingham Limited, which entered administration on 17 November 2023 and subsequently entered creditors' voluntary liquidation, with claims admitted for distribution purposes in respect of secured creditors totaling approximately £2.34 million. Christian Yates was also a director of Away Storage Liverpool Limited at the time it entered creditors' voluntary liquidation on 20 March 2024, with unsecured creditor claims received totaling approximately £0.64m and no distribution made to creditors. Stephen Birrell was a director of Live Company Group Plc within the 12 months preceding it receiving a winding-up petition from a creditor on 1 August 2024, and a Notice of Progress Report dated 2 December 2025 states that unsecured creditor claims total £1.62m. Nativo has interests in gold projects in Peru and has already acquired or optioned several projects for development. The Company has identified additional opportunities for expansion. The Company’s nearest-term objective is to scale operations on the Tesoro Gold Concession, focusing on the Bonanza and Morrocota mines.

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