Wednesday, October 17, 2018

Inca One Gold produces 3,032 ounces Au in September

2018-10-16 10:26 ET - News Release

Mr. Edward Kelly reports
INCA ONE GOLD PRODUCES A RECORD 3,032 OUNCES OF GOLD IN SEPTEMBER 2018
Inca One Gold Corp. had consolidated gold production for September, 2018, from its Chala One plant and its recently acquired Koricancha plant (Kori One). All comparative production numbers relate only to Chala One.

Gold production reached 3,032 ounces as compared with 889 ounces in September, 2017, an increase of 241 per cent year over year and an increase of 100 per cent from the prior month of August, 2018 (1,513 ounces). Material processed this September also increased on a year-over-year basis as the combined plants processed 5,976 tonnes of gold-bearing material, an increase of 304 per cent year over year and an increase of 89 per cent from the prior month of August, 2018 (3,170 tonnes). Throughput in September averaged a combined 199 tonnes per day.

In the company's first full month of stewardship at Kori One, initial production numbers were pleasing. The company immediately identified cost-reduction opportunities as redundancies in administration, overhead and staffing were addressed. Additional cost savings and synergies are being evaluated and are expected to be implemented accordingly.

Edward Kelly, president and chief executive officer, said: "We are extremely pleased to report, for the first time, the consolidated production numbers from our two processing plants. These figures will provide a new baseline for comparative purposes as we begin to scale our business. The synergies of having two highly optimized and integrated plants situated close to each other have already allowed for substantial efficiencies and cost savings. We have immediately doubled our output, are operating at a robust 200 tonnes per day and have excess capacity of an additional 250 tonnes per day available to us. This should translate to significant and continued positive cash flows as we scale up over the next few quarters."

About Inca One Gold Corp.
Inca One is a Canadian-based mineral processing company. The company's activities consist of the production of gold and silver from the processing of purchased minerals located in Peru. The company purchases its minerals from government-registered small-scale mining producers from various regions and processes it at its Chala One and Kori One milling facilities located in Arequipa, southern Peru.
We seek Safe Harbor.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.