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    Inca One Gold to Acquire Peruvian Assets from Montan Mining

    Charlotte McLeod
    Oct. 29, 2015 10:26AM PST
    Gold Investing

    Inca One Gold Corp. (TSXV:IO) and Montan Mining Corp. (TSXV:MNY) announced that they have entered into a binding letter agreement under which Inca One will acquire certain of Montan’s assets.

    Inca One Gold Corp. (TSXV:IO) and Montan Mining Corp. announced that they have entered into a binding letter agreement under which Inca One will acquire certain of Montan’s assets.
    The press release explains:

    Under the terms of the Binding LA, Inca One will: (i) assume Montan’s obligations under a Share Purchase Agreement with the shareholders of Goldsmith (the “Goldsmith Shareholders”)  for the acquisition all of the issued and outstanding shares of Goldsmith which owns the Mollehuaca Ore Processing Plant (“Mollehuaca”) in Peru, the mining rights for the nearby Eladium Mine and the Saulito Exploration Property in Peru (the “Goldsmith Assets”); (ii) acquire other select milling assets from Montan (the “Milling Assets”); and (iii) will be assigned prepaid marketing services from Montan (the “Marketing Assets”, together with the Goldsmith Assets and the Milling Assets, the “Acquired Assets”). In exchange for the Acquired Assets Inca One has agreed to issue 7,000,000 Inca One common shares (the “Share Consideration”) and pay a cash consideration of US$354,000 due in various installments as set out in the Binding LA (the “Montan Transaction”).

    Highlights of the transaction include:

    • Addresses Inca One’s current capacity limitations at Chala One.
    • Near term increase in production and anticipated cash flows.
    • Establishes Inca One as a consolidator in the industry with three plants.
    • Economies-of-scale opportunities and several strategic benefits of having two plants within a 40km radius, including centralized crushing and desorption services.
    • Increase of commissioned carbon-in-leach (“CIL”) capacity to 200 tonnes per day (“TPD”), and permitted CIL capacity to 300 TPD.
    • Addition of a third mineral purchase team with 10 years’ experience in Peru.
    • Addition of Luis Zapata as Executive VP Latin America for Inca One bringing a Peruvian resident, and a Canadian citizen, into Inca One’s senior management team.
    • Further synergies of office and operating staff, commercial purchasing teams, and rationalization of three companies combining into one stronger and leaner entity to drive shareholder value.

    Click here to read the full Inca One Gold Corp. (TSXV:IO) and Montan Mining Corp. cpress release.

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