Inca One Gold reports sales totaling US$ 11.8 million during the first quarter of 2024

This figure reflects the company's financial performance during the mentioned period, which can provide insights into its market positioning and its ability to generate income during that time frame.

The strong sales were driven by a higher volume of gold ounces produced and sold in the quarter, along with an increase in the price of gold.

Inca One Gold, operating in Peru, reported sales of US$ 11.8 million during the first quarter of 2024. This translates to an improvement for the company, as it experienced a year-over-year increase of 36% and a 17% increase compared to the same period last year.

The strong sales were propelled by a higher volume of gold ounces produced and sold in the quarter, along with an increase in the price of gold (USD 2,081 compared to USD 1,903 in the first quarter of 2023).

Deliveries and production also continued to show effective year-over-year growth despite operating within the typical seasonal constraints of this time of year.

In particular, milling activities in March showed a significant increase of 47% compared to March 2023, reflecting solid plant performance at the end of the quarter, while averaging 175 tonnes per day over the three months.

With the rapid increase in the price of gold, the company's gold raw material costs have increased significantly and are expected to remain high despite the increased demand for processing services that a higher gold price creates in Peru's artisanal and small-scale mining sector.