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Inca One Gold produces record gold in September 2018

Published by
Global Mining Review,


Inca One Gold Corp. (Inca One) consolidated gold production for September 2018 from its Chala One plant (Chala One) and its recently acquired Koricancha plant (Kori One). All comparative production numbers relate only to Chala One.

Gold production reached 3032 oz as compared to 889 oz in September 2017, an increase of 241% y/y and an increase of 100% from the prior month of August 2018 (1513 oz).

Material processed this September also increased on a y/y basis as the combined plants processed 5976 t of gold bearing material, an increase of 304% y/y and an increase of 89% from the prior month of August 2018 (3170 t). Throughput in September averaged a combined 199 tpd.

 

According to Inca One Gold Corp., during its first full month of stewardship at Kori One, initial production numbers were pleasing. They immediately identified cost-reduction opportunities as redundancies in administration, overhead and staffing were addressed. Additional cost savings and synergies are being evaluated and are expected to be implemented accordingly.

Edward Kelly, President, and CEO said: "We are extremely pleased to report, for the first time, the consolidated production numbers from our two processing plants. These figures will provide a new baseline for comparative purposes as we begin to scale our business. The synergies of having two highly optimised and integrated plants situated close to each other have already allowed for substantial efficiencies and cost savings. We have immediately doubled our output, are operating at a robust 200 tpd and have excess capacity of an additional 250 tpd available to us. This should translate to significant and continued positive cash flows as we scale up over the next few quarters."

Read the article online at: https://www.globalminingreview.com/exploration-development/17102018/inca-one-gold-produces-record-gold-in-september-2018/

 

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