Peru, known as one of the world's largest producers of gold, has a bustling artisanal and small-scale miners (ASM) sector estimated to be valued in the billions annually. Amidst this thriving industry stands Inca One Gold Corp. (Ticker: INCA.v or INCAF for US investors), a distinguished gold producer operating two fully permitted gold mineral processing facilities in the heart of Peru.
The company boasts a combined 450 TPD permitted operating capacity at its two fully integrated plants, Chala One and Kori One, playing a pivotal role in servicing permitted ASM in the country. In its operational history, Inca One has successfully produced over 130,000 ounces of gold, generating a staggering US$200 million in sales from its processing operations.
At the helm of Inca One is an experienced and capable management team that has positioned the company as a trusted leader in the field. The company's commitment to sustainable development and responsible mining practices is evidenced by its partnerships with the UN-backed PlanetGold Program and the Swiss Better Gold Initiative.
In a recent report, Inca One revealed its consolidated sales for November 2023, highlighting an impressive US$4.6 million in revenue from the sale of 2,251 ounces of gold Dore. This marked a substantial 70% increase over the previous month of October. The surge in revenue was attributed to factors such as increased exports, higher ounces sold, and a slightly elevated gold price at US$1,978 per ounce.
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Year over year, Inca One reported substantial operational growth, with deliveries surging by 66%, milling up by 27%, and gold production showing a robust 49% increase compared to November 2022.
Deliveries in November reached their highest level since May 2022, totaling 7,000 tonnes, representing a 21% increase over the prior month. The company's operations are further buoyed by evidence of increased seasonal mining activity among its ASM partners, suggesting a promising outlook for milling activity in the coming weeks.
Despite its substantial contributions and promising growth trajectory, Inca One's market cap remains relatively modest compared to its peers. The current market conditions, including a dip attributed to a recent private placement, present an opportune moment for potential investors to consider the long-term potential of this emerging powerhouse in the Peruvian gold mining landscape.
Full news here: https://www.incaone.com/news/index.php?content_id=328
Posted on behalf of Inca One Gold Corp.