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Inca One Resources Corp. (TSXV:IO) has signed an amended agreement with Rial Minera SAC and its shareholders, with respect to the Las Huaquillas Gold-Copper project in Peru, that the Company will defer its quarterly payments until the drilling permits have been obtained. Inca One has established an estimated timeline to receive its drilling permits by late Q2 to early Q3 of 2012.
Inca One Resources Corp. (TSXV:IO) has signed an amended agreement with Rial Minera SAC and its shareholders, with respect to the Las Huaquillas Gold-Copper project in Peru, that the Company will defer its quarterly payments until the drilling permits have been obtained. Inca One has established an estimated timeline to receive its drilling permits by late Q2 to early Q3 of 2012.
As quoted in the press release:
Pursuant to the terms of the original agreement, Inca One was granted the right to earn a 100% interest in the Project by making quarterly payments for a period of four years. Pursuant to the amended agreement, it was agreed that the
Company will defer its quarterly payments until the drilling permits have been obtained.
Inca One CEO, Edward Kelly, said:
“This revised agreement shows our strong relationship with the property vendors and the local communities in Peru. It also allows us to effectively deploy our working capital as we advance through the final stages of the drill permitting process.”
Click here to read the Inca One Resources Corp. (TSXV:IO) press release
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