Issue link: http://resourceworld.uberflip.com/i/107613
Inca One Resources Inc. [IO-TSXV] is developing the Las Huaquillas copper-gold property in northern Peru, into which it can earn 100%. On October 15, the company announced the completion of a two-tranche private placement for total gross proceeds of almost $1.12 million. Delineated by Sulliden Resources in 1998, a 500-metre section of the project's Los Socavones Zone has a historic, non-NI 43-101-compliant resource of 6.57 million tonnes, grading 2.09 g/t gold and 25.2 g/t silver. International PBX Ventures Ltd. [PBXTSXV; IPBXF-PK; IVV-FSE] has entered into a joint-venture option agreement relating to the Copaquire copper-molybdenum project in Chile with OZ Exploration Chile Ltda. (an OZ Minerals subsidiary). OZ can earn up to 90% in Copaquire through exploration and investment valued at $90 million. On November 8, PBX announced that Oz had started drilling at the property. Kestrel Gold Inc. [KGC-TSXV] formally terminated its option to acquire an interest in the Huachi gold project in Argentina on October 1. Exploration results obtained did not outweigh the political and economic risk of investing, the company said. Kestrel has also terminated acquisition agreements in the Argentina-located Antofalla and Condor Yacu projects. Kinross Gold Corp. [K-TSX; KGC-NYSE] has several exploration and development projects in South America. It also holds three operational gold mines: Paracatu, in Brazil, and Maricunga and La Coipa in Chile. Total South American production stood at 200,114 ounces gold in Q3 2012 compared with 226,761 ounces gold in Q3 2011. The decline was due to lower-than-expected recovery rates at Paracatu. A task force has been established to address this issue. Largo Resources Ltd. [LGO-TSXV] is advancing its 90%-owned Maracás vanadium project in Brazil. On November 8, the company announced it will secure the remaining 10% by using over $4 million in gross proceeds from its latest private placement financing. The company aims to commission the project in Q4 2013, ramping up to 9,200 tonnes per year (tpy) vanadium pentoxide for the first five years. Largo also operates the Currais Novos 14 www.resourceworld.com february 2013