Inca One Gold hits record production month
- Published: Nov 6, 2018, 4 AM
September’s production of 3,032 ounces of gold in Peru by Inca One Gold Corp. was a record monthly total for the Canadian-based precious metals processing firm.
Based in Vancouver, British Columbia, Inca Gold One Corp.’s mineral processing operations produce gold and silver by processing minerals purchased from Peru.
Inside Coin World: Three auction catalogs, three centuries: Our print-exclusive columns in the Nov. 19, 2018, issue of Coin World look at what ties together three auction catalogs issued in different centuries, and why 2018 is a great time to collect.
Peru is the sixth largest producer of gold in the world and the Peruvian government estimates the small-scale mining sector accounts for a significant portion of all Peruvian gold production, estimated to be valued at approximately $3 billion in U.S. funds annually, according to Inca One Gold.
Inca One Gold Corp. purchases its minerals from government registered small-scale mining producers from various regions and processes it at its Chala One and Kori One milling facilities located in Arequipa, in southern Peru.
Inca One Gold recently announced 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 3,032 ounces as compared to 889 ounces in September 2017, an increase of 241 percent year-over-year and an increase of 100 percent from the prior month of August 2018 at 1,513 ounces.
The two processing plants combined processed 5,976 metric tonnes of gold-bearing material, an increase of 304 percent year over year and an increase of 89 percent from August 2018’s 3,170 metric tonnes.
Inca One Gold’s president and CEO, Edward Kelly, 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 optimized 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 [metric tonnes per day] and have excess capacity of an additional 250 TPD [metric tonnes per day] available to us. This should translate to significant and continued positive cash flows as we scale up over the next few quarters.”
Inca One Gold Corp.’s detailed presentation on gold process operations can be read here.
MORE RELATED ARTICLES
Paper Money Mar 19, 2023, 12 PM
Dutch firm warns of proliferation of euro counterfeiting
US Coins Mar 17, 2023, 1 PM
Week's Most Read: 2023 Morgan, Peace dollars
US Coins Mar 16, 2023, 2 PM
Market Analysis: Deja vu for this 1874-CC 50¢
World Coins Mar 16, 2023, 1 PM
Exhibition displays projection of power by the Tudor dynasty