Inca One Announces Q2 Results

Inca One Gold Corp. (TSXV: IO, Frankfurt: SU9.F, SSEV: IOCL) announced gold production in July 2018 reached approximately 1,291 ounces as compared to 844 ounces in July 2017, an increase of 53 percent year-over-year.

As quoted in the press release:

Material processed in July 2018 also increased on a year-on-year basis as processing in July reached 2,989 tonnes, an increase of 53 percent year-on-year, but slightly off last month’s record numbers of 3,167 tonnes, a decrease of 6 percent, on a month-over-month basis, averaging 96 tonnes per day (TPD).

The company’s supply of gold-bearing material for processing hit a new watermark as mineral received in July 2018 was 3,950 tonnes, representing an increase of 86 percent on a year-on-year basis, and an increase of 38 percent from the prior month June 2018, (2,871 tonnes). 

Edward Kelly, president and CEO, commented:

We continue to see operations at Chala One maintaining 96 percent to 100 percent of its permitted capacity during the past several months.  Though our grade was below previous averages, it is encouraging to see positive year-over-year results as our team efficiently executes our goal.

It is also pleasing to see a significant bump up in deliveries, reaffirming our well-known belief of ample supply of quality material for processing. Looking forward, our goal is to maintain our current output which will allow us to hit our production targets again for this quarter, while seeking higher grade material. Additionally, we will work to close the Koricancha transaction, bringing it online to achieve the synergies and operating efficiencies that will fuel growth as we scale the business in the second half of this calendar year.