Thursday, March 01, 2012 12:39:39 PM
2012-03-01 12:18 ET - News Release
Mr. Edward Kelly reports
INCA ONE EXTENDS PROPERTY PAYMENT TIMELINE
Inca One Resources Corp. has signed an amended agreement in connection with the property purchase agreement with Rial Minera SAC and its shareholders, with respect to the Las Huaquillas gold-copper project in Peru.
Pursuant to the terms of the original agreement, Inca One was granted the right to earn a 100-per-cent interest in the project by making quarterly payments for a period of four years. Pursuant to the amended agreement, it was agreed that the company will defer its quarterly payments until the drilling permits have been obtained.
Edward Kelly, Inca One's chief executive officer, says: "This revised agreement shows our strong relationship with the property vendors and the local communities in Peru. It also allows us to effectively deploy our working capital as we advance through the final stages of the drill permitting process."
Inca One has established an estimated timeline to receive its drilling permits by late second quarter to early third quarter of 2012.
The revised structure of the property payments and effective deployment of capital gives the company an opportunity to complete the permitting and drilling application process without having to raise additional capital.
We seek Safe Harbor.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM