Inca One Gold Corp. - Edward Kelly, President and CEO
Edward Kelly, President and CEO
Source: Business in Vancouver
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  • Inca One Gold Corp. (INCA) has reported unaudited consolidated gold and silver sales for the three months of April, May and June 2022 (Q2 2022)
  • The company recorded its best-ever second quarter with quarterly gold and silver sales reaching US$15.1 million, an increase of 96 per cent YoY
  • Also the first half of calendar 2022 recorded an all-time high of $29.6 million in sales, an increase of 86 per cent YoY
  • This increase in sales was caused by the higher volume of ore milled and higher spot price of gold received in the quarter
  • Inca One Gold Corp. is an established gold producer operating two fully permitted, gold mineral processing facilities in Peru
  • Inca One Gold Corp. opened the day’s trading at C$0.225 per share

Inca One Gold (INCA) has reported unaudited consolidated gold and silver sales for the three months of April, May and June 2022.

All comparative year-over-year (YoY) sales and production numbers represent consolidated operations from both Chala One and Kori One facilities collectively referred to as the plants.

With quarterly gold and silver sales reaching US$15.1 million, the company recorded its best-ever second quarter. This was an increase of 96 per cent YoY when compared to sales figure of US$7.7 million achieved in Q2 2021.

It is worthy of note that the first half of calendar 2022 recorded an all-time high of $29.6 million in sales, which was an increase of 86 per cent YoY.

This increase in sales was caused by the higher volume of ore milled and higher spot price of gold received in the quarter.

Another notable milestone for the company is trailing 12-month revenues have topped $50 million for the first time.

The company reports YoY increases in ore purchases of 50 per cent to 19,112 tonnes and milling activity of 73 per cent to 20,246 tonnes of gold-bearing material.

Gold production in the quarter also rose YoY by 34 per cent as demand for milling services in the quarter has remained strong, reflecting the steady supply of gold-bearing material to both plants.

The company milled an average of 222 tonnes per day (TPD), a new throughput record for any second quarter.

In June 2022, the company’s milling activities and gold production dropped 17 per cent and 15 per cent, respectively, over the prior month of May, as lower ore supply from reduced working capital affected both activities month over month.

“With the end of this quarter, Inca One has delivered approximately 4,600 oz of gold to OCIM Precious Metals, in line with the terms of our gold pre-payment agreements,” noted Inca One President and CEO Edward Kelly.

“Looking forward, we are working to increase our working capital, which will allow us to further increase our current production numbers,” he added.

Inca One Gold Corp. is an established gold producer operating two fully permitted, gold mineral processing facilities in Peru.

Inca One Gold Corp. opened the day’s trading at C$0.225 per share.

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