Inca One Resources (IO.V) has announced it poured a first gold bar at its Chala toll milling facility in Peru. The company processed almost 97 tonnes of ore at an average head grade of almost 23g/t. As the average recovery rate of this batch was in excess of 90%, this resulted in a gold production of just over 62 ounces. As Inca One continues to toll mill the high-grade ore from local artisanal miners, we now expect a continuous news flow of production results as Inca One should be able to source sufficient ore with the current funds in the lock-box account.
Inca One has a very aggressive growth plan, as the company would like to fourfold its production rate to 100tpd from the current 25tpd. We have sat down with Inca One’s management team last week in Vancouver and we plan to release an update report soon.
> Click here to read the press release
Disclosure: The author holds a long position in Inca One. Inca One Resources is a sponsor of the website. Please see our disclaimer for current positions.
