Inca One Resources (IO.V) has announced it already closed a first tranche of the $600,000 debt offering it announced last week. The company has already raised 70% of the amount and the lock box currently already contains $420,000 which will be used by the company to purchase high-grade ore from artisanal gold miners to feed its 25tpd plant in Chala.
As we said before, if Inca One can obtain the same operational margin as competitor Dynacor Gold Mines (DNG.TP), the Chala project should generate approximately $1.5M in operating cash flow per year.
> Click here to read the press 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.
