17:13:24 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Inca One Gold Corp
Symbol IO
Shares Issued 63,929,674
Close 2014-09-17 C$ 0.155
Market Cap C$ 9,909,099
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Lundin refreshes buy of Inca One Resources

2014-09-18 18:36 ET - In the News

Brien Lundin, in the September, 2014, edition of the Gold Newsletter, refreshes his buy of Inca One Resources Corp., recently 14 cents. Mr. Lundin said buy in July, 2014, at 17 cents. Assuming a $1,000 investment for the buy, the position is now worth $823. Inca One recently stated that construction work to upgrade its Chala One milling facility in Peru's Arequipa district is fully financed, on schedule and on budget. The company remains confident in reaching the targeted 100-tonne-per-day capacity by the end of the fourth quarter. Mr. Lundin reminds his readers that Inca is hoping to capitalize on Peru's recent decision to codify and tax its mining sector, which is replete with informal, small-scale miners that produce about two million ounces of gold a year. A part of that reform is the requirement for miners to process their ore at a permitted facility such as Chala One. Once the plant starts operating at 100 tpd, says the editor, it should immediately start generating positive cash flow. Between management's aggressive plans and the potential market created by Peru's new mining laws, he concludes, Inca has an excellent chance of enjoying "explosive growth" in the years ahead. The stock remains a buy.

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