Inca One Resource Corp. (TSX: V.IO, Stock Forum) has announced additional progress on its permitting timeline at the Las Huaquillas gold-copper project in northern Peru and wishes to clarify the company’s next steps in its plans. The company has already met many of the requirements before final social and drilling permits will be issued.
The company said it plans to complete the following requirements in the near future, including:
- Environmental Baseline Study (April 2012)
- Drilling Application to Project stakeholders (April 2012)
- Provide Drilling Application files to Project's stakeholders (Q2, 2012)
- Complete in-person workshop with local project stakeholders (Q2, 2012) Submit the drilling application to the Ministry of Energy and Mines (July 2012)
Inca one shares fell 11% to 44 cents in trading Monday, giving the junior a market cap of $10 million, based on 22.7 million shares outstanding. The 52-week range is 75 cents and 18 cents.