Inca One Resources (IO.V) announced today they have signed a letter of intent to acquire a gold milling facility in Southern Peru. The facility currently has a mill on site with a capacity of 25tpd, but the company feels it’s immediately upgradeable by installing an additional ball mill and tanks.
The company says it will increase the throughput to in excess of 50 tonnes per day, and Inca One will start the permitting process to increase the throughput after a definitive agreement has been signed.
We think acquiring a 100% owned mill was the next logical step in the development of Inca One. Although the mill isn’t close to the Corizona project, it will be viable to truck the ore as the transportation costs in Peru average $1/kilometer.
Inca One has started stockpiling ore at the Corizona Project, and we’re looking forward to the official announcement of the first gold pour which we expect this summer.
> Click here to read the news release
Disclosure: The author holds a long position in Inca One Resources. Inca One is a sponsor of the website. Please see our disclaimer for current positions.
