INCA ONE GOLD CORP. (TSX-V: IO) (Frankfurt: SU9.F) (SSEV: IOCL) announces consolidated gold production and deliveries for May 2019 from its Chala One Plant and Koricancha Plant. All comparative year over year production numbers relate only to Chala One in 2018. Consolidated production in 2019 is on a 100% basis and includes Kori One from August 21, 2018.
Inca One is pleased to report that deliveries for May 2019 increased 52% YOY with 3,491 tonnes of gold bearing material delivered to both the Chala One and the Kori One plants. The extended rainy season has delayed some deliveries.
Throughput in May reached 2,912 tonnes, as compared to 3,099 tonnes in May 2018, a decrease of 6% YOY. The decline in throughput is due to the lag time between receiving and processing the ore near the end of the month. Accordingly, we expect throughput to catch up with deliveries in the coming months.
The Company’s gold production decreased 7% YOY this past May 2019 producing 1,420 ounces of gold, as compared to 1,531 ounces in May 2018. Gold production this past month declined in line with the decline in throughput.
|Year over Year||May 2019||May 2018||YOY Variance|
|Deliveries:||3,491 tonnes||2,300 tonnes||52%|
|Throughput:||2,912 tonnes||3,099 tonnes||-6%|
|Tonnes Per Day (tpd)||94 tpd||100 tpd||-6%|
|Gold Produced:||1,420 ounces||1,531 ounces||-7%|
Edward Kelly, President, and CEO commented, “Our production has been lower than expected over the prior few months, due to delayed deliveries as a result of the extended rainy season which has now ended. As a result, we are already seeing improved deliveries from our mining partners and expect production to increase over the remainder of the year. The Company is well capitalized and we have excess capacity to make up from lost production from these recent months.”
About Inca One
Inca One is a Canadian based mineral processing company. The Company’s activities consist of the production of gold and silver from the processing of purchased minerals located in Peru. Peru is the 6th 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 approximately US$3 billion annually. The Company purchases its minerals from government-registered, small-scale mining producers from various regions and processes it at its 100%-owned Chala One and 90%-owned Kori One milling facilities, located in Arequipa, Southern Peru.
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