VANCOUVER, Dec. 21, 2018 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") announces consolidated gold production for November 2018 from its Chala One Plant ("Chala One") and its recently acquired Koricancha Plant ("Kori One"). All comparative year over year ("YOY") production numbers relate only to Chala One in 2017. Consolidated production in 2018 is on a 100% basis.
Gold production reached 2,610 ounces as compared to 753 ounces in November 2017, an increase of 247% YOY.
Material processed this November also increased, on a YOY basis as the combined plants processed 4,841 tonnes of gold-bearing material, an increase of 210%. Throughput in November averaged a combined 161 tonnes per day ("TPD").
Deliveries in November reached an all-time high, totaling 6,012 tonnes, an increase of 286% YOY and an increase from the 5,808 tonnes delivered the previous month of October 2018.
Edward Kelly, President, and CEO said, "Our growth strategy has been validated by our ability to maintain our triple digit production increase in our year over year results from processing operations. Additionally, I am extremely pleased with achieving a new all-time high in deliveries this past month."
Results of Annual General Meeting
On December 19, 2018, the Company held its annual general meeting (the "Meeting") in Vancouver, British Columbia. All resolutions were passed by the requisite majority. Grant Thornton LLP, Chartered Professional Accountants were re-appointed as auditors of the Company for the ensuing year and shareholders confirmed the Company's stock option plan.
Motions | Votes For | % Votes For | Votes Withheld | % Votes Withheld |
Number of Directors | 68,064,548 | 100.00% | 0 | 0.00% |
Edward Kelly | 68,060,977 | 99.99% | 3,571 | 0.01% |
Bruce Bragagnolo | 68,060,977 | 99.99% | 3,571 | 0.01% |
Rodney Stevens | 68,060,977 | 99.99% | 3,571 | 0.01% |
Adrian Morger | 68,060,977 | 99.99% | 3,571 | 0.01% |
Appointment of Auditors | 68,062,405 | 100.00% | 2,143 | 0.00% |
Confirmation of Stock Option Plan | 68,055,977 | 99.99% | 0 | 0.00% |
Stock Option Grant
Pursuant to the Company's Stock Option Plan, the Board of Directors has authorized the granting of incentive stock options (the "Options") to directors and officers of the Company to acquire an aggregate of 12.7 million common shares of the Company at an exercise price of $0.05 per share.
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.
On behalf of the Board,
Edward Kelly,
President and CEO
INCA ONE GOLD CORP.
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, by their very nature, they involve inherent risks and uncertainties. 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 operational 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.
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SOURCE Inca One Gold Corp.
View original content: http://www.newswire.ca/en/releases/archive/December2018/21/c1847.html
