Saw this one coming. WE thought so long time ago, no Inca One Coffee,we`ll have to work now.
Wish them all the luck.
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Inca One to cancel Las Huaquillas option agreement 2013-12-30 19:47 ET - News Release
Mr. Edward Kelly reports
INCA ONE INITIATES THE TERMINATION OF ITS LAS HUAQUILLAS PROJECT
Inca One Resources Corp. is providing an update on its Las Huaquillas project in northern Peru.
Due to the company's successful shift to becoming a primary toll-milling company in Peru and in view of the required capital to maintain the option and related exploration expenditures on the Las Huaquillas project, management has initiated the process to terminate the Las Huaquillas option agreement.
The company will continue to hold the permits or environmental impact statement, allowing for a drilling program to be conducted with respect to the project, and evaluate potential opportunities to monetize the permits.
Edward Kelly, president and chief executive officer, stated: "If we want to lower risk and maximize leverage for our shareholders, we must concentrate our efforts in expanding our toll-milling business. We consider the Las Huaquillas project to be very prospective. However, we had to recognize the difficulties of progressing the project, and we shifted focus to the toll-milling business. We believe that concentrating all of our resources on the cash flow producing toll-milling business is the prudent decision for Inca One."