Inca One Reports August Sales of US$4.0 Million

Rhea-AI Summary

Inca One reports consolidated sales of US$4.0 million in August 2023, a 15% increase YoY. Gold production reached 1,732 ounces. Deliveries were down 30% YoY due to cash constraints.

Positive

• Consolidated sales increased by 15% YoY
• Gold production reached 1,732 ounces

Negative

• Deliveries were down 30% YoY due to cash constraints.

Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two mineral processing facilities in Peru, (the "Plants") reports consolidated sales (unaudited) for August 2023 and comparative year over year ("YoY") operational results.

Sales revenue in August reached US$4.0 million from the sale of 2,055 ounces of gold, a 15% increase over August 2022. The increase was due to an increase in the ounces sold and to a slight increase in the gold price received (US$1,926.67 per ounce). Sales this month decreased from the prior record month of July 2023 (US$6.0M) due to fewer ounces of gold produced and fewer exports as compared to the prior month.

Consolidated Operations	August 2023	August 2022	YoY change
Sales (US$)	4.0 M	3.5 M	15%
Deliveries (tonnes)	4,206	6,046	-30%
Milling (tonnes)	4,578	5,708	-20%
Gold Production (ounces)	1,732	1,914	-10%

 

Deliveries in August were 4,206 tonnes to Inca One Plants. Deliveries were down YoY due to tighter cyclical cash constraints.

Milling activity for the month was 4,578 tonnes of material, operating at 148 tonnes per day ("TPD") daily throughput, which represents excess capacity of 67% available to scale up operations when the ore buying account is fully funded.

Gold production in August reached 1,732 ounces.

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 TPD permitted operating capacity at its two fully integrated plants, Chala One and Kori One and has produced more than 130,000 ounces of gold, generating over US$200 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 permitted, artisanal and small-scale 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. To learn more, visit www.incaone.com.

Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)

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On behalf of the Board,

Edward Kelly
President and CEO
Inca One Gold Corp.

For More Information Contact:

Konstantine Tsakumis
ktsakumis@incaone.com
604-568-4877

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, they involve inherent risks and uncertainties by their very nature. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operating results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181910