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inca one resources corp (IO) Details

Inca One Resources Corp., an exploration stage company, is engaged in the acquisition, exploration, and development of mineral properties in Peru. Its principal property comprises the Las Huaquillas gold-copper property that consists of 9 mineral concessions covering 3,700 hectares in Northern Peru. The company was formerly known as Inca One Metals Corp. and changed its name to Inca One Resources Corp. in October 2011. Inca One Resources Corp. is headquartered in Vancouver, Canada.

inca one resources corp (IO) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$96.0K
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

inca one resources corp (IO) Key Developments

Inca One Resources Corp. Announces an Update on the Company's Phase I Chala One Plant Expansion in Arequipa, Peru

Inca One Resources Corp. announced an update on the company's Phase I Chala One Plant expansion in Arequipa, Peru. The company has engaged ED & ED Engineering Services SA. The engineering firm is currently on-site, developing the facility's start-up strategy and overseeing the construction of the plant expansion. Two new 50-tpd ball mills have been purchased to be added to the current 25-tpd circuits at Chala One. The first ball mill is scheduled into the processing circuit by end of third quarter while the second ball mill will be added by end of the fourth quarter. With the two new 50-tpd ball mills operating in tandem, the company will achieve a combined capacity of 100-tpd. The mill already has sufficient tailings capacity to support the additional throughput. The company has begun stockpiling initial shipments of ore for processing in preparation to have ample supply for continuous milling by end of third quarter. To ensure optimum throughput post expansion, the company is pursuing additional ore-purchase agreements with several small-scale miners who can meet or exceed the company's gold grade target of 0.8 ounce of per tonne gold (24.9 grams per tonne gold). In addition to ramping up Chala One to 100 TPD capacity by fourth quarter 2014 the company is currently reviewing the economics and cash flow and permitting requirements to expand its facility to 250-tpd to better meet the area's future ore processing needs and generate significant cash flow. The Chala One plant is currently a 25 tonne per day carbon in leech (CIL) plant located on 17 hectares of property in the region of Arequipa. Arequipa hosts the large amount of small-scale mines, which are legal to buy and process ore from. These are mines that are unable to support stand-alone plants and the potential demand for ore processing is considerable. Inca One continues to build Chala to be an ore processing facility of choice. The company look forward to updating shareholders on further developments at the Chala processing facility. Corizona update: The company would also like to provide an update and further direction on Corizona. As reported the company shipped a bulk sample of vein material from the Corizona property to the Chala plant for test milling. The bulk sample, totaling 28.5 dry tonnes, was extracted from three underground headings within the Los Angeles Vein structure (Vein B). Assays received from Minera Lab SAC reported grades of 0.246 ounces per ton gold, 0.175 ounces per ton gold, and 0.033 ounces per ton gold for the three sample sites. Metallurgical test work was not conducted. The bulk sample material was blended with mill feed already present at the Chala ore processing facility, and later processed. In light of the variable gold grades realized from the bulk sampling program, Inca One has decided to temporarily suspend work at La Corizona property. The company believes shareholder value is better sought in the expansion of the Chala ore processing facility where ore purchase agreements with small scale miners provided mill feed at an average grade of 0.5 ounce per ton gold during the initial test milling program.

Inca One Resources Corp Announces Private Placement of $5,500,000 Bonds

Inca One Resources Corp. announced a non-brokered private placement of bonds in the amount of $5,500,000. Funds to increase throughput at Chala by 400%. Completion expected by fourth quarter 2014. Secures first right for additional $15,000,000 in equity or debt financing. The Company's wholly-owned subsidiary will issue a three year bond in the amount of $5,500,000 in connection with the Bond Financing. The Bond will bear interest at a rate of 10% per annum, calculated and payable quarterly in arrears commencing no later than six months from the date of issue. The Bonds will be issued in two tranches, with $2,700,000 issuable at the initial closing and $2,800,000 issuable at the subsequent closing, which is expected to close on June 30, 2014.

Inca One Resources Corp Processes 172.36 Ounces of Gold and 78.58 Ounces Silver from Carbon Harvest at Chala Plant

Inca One Resources Corp. announced the recovery of 172.36 ounces of gold and 78.58 ounces of silver from the latest harvest of activated carbon at the Company's Chala gold milling facility located in Chala, Peru, during the period between December 6, 2013 and February 7, 2014. The harvest was obtained from the Chala plant as it continued the test milling phase and processed 365 tonnes of mill feed grading an average of 18.17 grams per tonne gold. The harvest represents a partial harvest of the recoverable gold, as some of the gold remains in solution in the milling circuits, with a total production from this harvest of 5,361.094 grams of gold (172.36 ounces of gold) and 2444.107 grams silver (78.58 ounces of silver) was achieved. The company continues to source high grade gold mill feed from legally recognized artisanal and small scale miners. Meanwhile, the Company is working to increase the milling capacity to 50 TPD.


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