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Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - 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 sales (unaudited) for the first calendar quarter of 2024 ("Q1 2024" or "the Quarter") and comparative year over year ("YoY") operational results.
Sales revenue for Inca One in the Quarter continued to show improvement as sales reached US$11.8 million, a 36% increase YoY and a 17% increase over the prior calendar quarter. The strong sales were driven by an increased volume of gold ounces produced and sold in the Quarter and a higher gold price (US$2,081 compared to US$1,903 in the first quarter of 2023).
| Consolidated Operations | Q1 2024 | Q1 2023 | YoY change |
| Sales (US$) | $11.8 | $8.7 | 36% |
| Deliveries (tonnes) | 13,827 | 8,613 | 61% |
| Milling (tonnes) | 15,935 | 8,807 | 81% |
| Gold production (ounces) | 5,209 | 3,823 | 36% |
Deliveries and production also continued to show effective YoY growth despite operating within the seasonal constraints typical of this time of the year.
Notably, milling activities in March showed a significant increase of 47% over March 2023 reflecting a strong performance from the Plants to end the quarter, while milling at an average of 175 tonnes per day ("TPD") over the three months.
With the rapidly increasing gold price, the Company's gold feedstock costs have risen significantly and are expected to remain high despite the increased demand for processing services a higher gold price creates in Peru's artisanal and small-scale mining sector. Inca One's top priority remains to secure a favourable funding solution that will increase its working capital requirement, enable the Company to fill its excess capacity and capitalize on the strengthening gold market.
About Inca One
Inca One Gold Corp is an established gold producer operating two 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, 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 Gold Miners (ASGM). Peru is one of the world's largest producers of gold, and its ASGM sector is estimated by government officials to be valued in the billions of dollars annually. Through the Company's partnerships with the UN backed PlanetGold Program and the Swiss Better Gold Initiative, Inca One supports the sustainable development and mining practices of the ASGM sector and the responsible gold supply chain from mine to market. To learn more, visit www.incaone.com.
