INCA ONE GOLD CORP. (TSX-V: INCA) (OTCQB: INCAF) (FSE: SU92) a gold producer operating two, fully permitted, mineral processing facilities in Peru, announces it has exercised its drawdown option of US$3.0 million from OCIM Precious Metals SA. All figures reported herein are stated in US dollars, unless otherwise indicated.
As previously reported in the Company’s August 9, 2021 press release, Inca One secured a $9.0 million, non-dilutive, gold pre-payment facility from OCIM, payable in two tranches. The first tranche was for $6.0 million, and the second tranche of $3.0 million was to be made available at Inca One’s request after certain conditions were met.
Due to the continued increase in the demand for mineral processing observed by Inca One, OCIM has agreed to the early drawdown of the second tranche by the Company. This $3.0 million in additional working capital is anticipated to increase gold-bearing mineral purchases, helping drive further production growth.
Inca One also reports that it has engaged David Skarica of addictedtoprofits.net to provide the Company marketing services. The term of the engagement is for six months commencing December 1, 2021, and for a total fee of C$40,000.
About Inca One
Inca One Gold Corp is an established gold producer operating two fully permitted gold mineral processing facilities in Peru. The Company possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One and has produced in excess of 100,000 ounces of gold, generating over US$125 million in sales from its processing operations. Inca One is led by an experienced and capable management team that has established the Company as a trusted leader in servicing government permitted, small-scale and artisanal miners (ASM) in Peru. Peru is one of the world’s largest producers of gold and its ASM sector is estimated by government officials to be valued in the billions of dollars annually.
Figure 1. Inca One’s gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)
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We acknowledge the [financial] support of the Government of Canada.