Peru, renowned as one of the globe's primary gold producers, hosts a thriving artisanal and small-scale miners (ASM) sector estimated to be worth billions annually. Amidst this flourishing industry operates Inca One Gold Corp. (Ticker: INCA.v or INCAF for US investors), a distinguished gold producer managing two fully authorized gold mineral processing facilities.
With a collective permitted operating capacity of 450 TPD at its two integrated plants, Chala One and Kori One, Inca One plays a crucial role in serving authorized ASM within the nation.
Over its operational history, the company has successfully yielded more than 130,000 ounces of gold, resulting in a substantial US$200 million in sales from its processing activities.
In a recent disclosure, Inca One unveiled its consolidated sales for November 2023, showcasing an impressive US$4.6 million in revenue from the sale of 2,251 ounces of gold ore.
This represented a notable 70% surge compared to the previous month of October, attributed to factors such as increased exports, higher ounces sold, and a slightly elevated gold price at US$1,978 per ounce.
On a yearly basis, Inca One reported substantial operational expansion, with deliveries witnessing a 66% increase, milling up by 27%, and gold production exhibiting a robust 49% growth compared to November 2022.
November deliveries reached their highest level since May 2022, totaling 7,000 tonnes, reflecting a 21% increase from the prior month.
The company's operations are additionally boosted by indications of heightened seasonal mining activity among its ASM partners, indicating a promising outlook for milling activity in the coming weeks.
Despite its noteworthy contributions and optimistic growth trajectory, Inca One's market capitalization remains relatively conservative compared to its industry counterparts.
Additionally Inca One recently announced the successful closing of the first tranche of its non-brokered private placement, raising gross proceeds of C$696,900. The company plans to extend the closing of the second and final tranche to January 31, 2024.
Interested parties, including certain directors, officers, and insiders, accounted for 37.9% of the first tranche proceeds, showcasing the company's high internal confidence.
More here: https://www.incaone.com/news/index.php?content_id=329
Posted on behalf of Inca One Gold Corp.