Inca One Conducts $3.0 Million Drawdown On Gold Pre-Payment Facility
Production growth is set to come to Inca One Gold (TSXV: INCA). The firm yesterday afternoon revealed that is has exercised its second tranche of funds to be provided by OCIM Precious Metals SA, resulting in further funding for the company.
The funding exercised was in connection with a previously announced $9.0 million gold pre-payment facility established by the company this past August. With $6.0 million in funding accessed under the first tranche earlier this year, the second tranche amounted to a total of $3.0 million.
The facility was accessed followed continued increase demand for the firms mineral processing operations in Peru. Funds are to be contributed to working capital, enabling further gold-bearing feedstock purchases for its processing operations. This, in turn, is expected to drive production growth for the company.
Inca One Gold last traded at $0.33 on the TSX Venture.
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