Inca One Completes Desorption Plant Acquisition and Boosts Net Revenue Margin
INCA ONE GOLD CORP is pleased to announce that Chala One SAC, its wholly owned operating subsidiary in Peru, has acquired a carbon desorption plant for the Chala One processing plant.
In addition to the acquisition of the desorption plant, the Company has made ongoing adjustments in the milling and leaching operations at the Chala One plant to fine tune the performance of the plant to increase recovery and reduce costs. Over the last eight weeks, these adjustments have yielded an increase in Chala One's net revenue margins ("NRM"), or the difference between the cost of minerals purchased and the resulting sales revenue, from a somewhat inconsistent range up to 25% NRM (previous to this period), to a more consistent 40% to 50% NRM range.
Edward Kelly, President and Chief Executive Officer, stated: "The Chala One plant has delivered a solid performance during its expansion, start up, and since the commencement of commercial production. The Company has laid the foundation for the plant's performance on an ongoing basis into the future. The addition of the desorption plant and the full implementation of its operation at Chala One will further enhance our economic and operating efficiency at the plant. We are also pleased with the performance of our technical team in increasing our net revenue margins, a significant achievement in operating cost and a strong demonstration of the technical competency of our personnel. We look forward to the continuing economic performance of Chala One."
About Inca One
Inca One is a Canadian-based mineral processing company with a gold milling facility in Peru, servicing government-permitted, small-scale miners. As part of the terms of the original purchase agreement for the Chala, Peru processing facility, Inca One has an agreement between its wholly owned subsidiary, Chala One SAC, and the seller and initial permit applicant, to operate under the umbrella of formalization until the successful completion of all the environmental and operating permits. Peru, a highly mineral-rich country, is one of the world's top producers of gold, silver, copper and zinc, with substantial production coming from small scale miners who need government permitted milling facilities to process their mineral (such as the Company's Chala Plant).