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Luca Mining Corp. (LUCMF) is a Canadian mining company with two 100%-owned producing mines in Mexico. The company recently completed successful metallurgical test work on the copper-lead separation process at Campo Morado. At Tahuehueto Gold Mine, Luca is close to completing the construction of a new mill with a capacity of 1,000 tpd, aiming to increase production to +800 tpd. The company is focused on ramping up both mines to their full potential, boosting cash flow, and expanding resources through exploration activities. Luca Mining emphasizes responsible and sustainable mining practices, ensuring transparency, accountability, and adherence to environmental and social standards.Rhea-AI Summary
Luca Mining Corp. announces its participation in the 2024 PDAC convention in Toronto, showcasing its operations in Mexico and sponsoring the Mexico Mining Forum. The company aims to engage with shareholders, investors, and industry peers, highlighting its presence in the mining sector.
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Luca Mining Corp. provides an update on the optimization program at Campo Morado mine in Mexico, showing improved performance in Q4 2023. Higher revenues, metallurgical recoveries, and concentrate grades were achieved. The CEO and President express optimism for future progress and revenue diversification.
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Luca Mining Corp. provides an update on the progress at its Tahuehueto Gold Mine in Mexico and announces the addition of Mr. Peter Damouni to the Board of Directors. The project to increase mill throughput to 1,000 tonnes per day is in the final stage, with testing of the second ball mill well advanced. The addition of Mr. Damouni brings extensive market, finance, and corporate experience to the company. The team is focused on commissioning the project and achieving significant milestones in the coming months.
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Luca Mining Corp. (LUCA) has successfully closed a debt restructuring and debt settlement, issuing 17,750,000 shares to settle outstanding debt of CAD$11,029,817. The company also completed a debt restructuring transaction with Trafigura Mexico, S.A. de C.V., converting a US$5,800,000 outstanding loan into a non-interest bearing three-year term convertible debenture. Additionally, Trafigura has advanced an additional US$2,500,000 loan to assist the company in completing the mine optimization program at Campo Morado.
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Luca Mining Corp. (LUCA) appoints Lisa Dea as CFO, grants stock options, and announces board resignation. The company expresses gratitude to outgoing CFO and founder. CEO Mike Struthers welcomes Lisa Dea's extensive financial expertise and relevant experience in Mexican mines, highlighting her strategic role in shaping Luca's future.
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Luca Mining Corp. (Luca) (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) closed a CAD $2 million non-brokered private placement, selling 5,714,286 units at CAD$0.35 per unit. The net proceeds will be used to advance the optimization program at Campo Morado, a copper-gold-silver-zinc mine in Mexico, with expectations of substantial revenue increases and positive free cash flow in 2024 and beyond.
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Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) secures funding for the Campo Morado mine optimization program, expecting a 40% increase in revenues. The funding includes a CAD $3.6 million budget, a US $2.5 million debt facility, and a CAD $2 million private placement. The company also restructures debt with Trafigura and Latapi Consultores, improving its financial position.
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Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) reports a net revenue of $15.1 million in Q3 2023, a 2% increase over Q3 2022. Mine operating income in Q3 2023 was $0.30 million compared to $1.50 million in Q3 2022. The net mine operating loss in Q3 2023 was $0.74 million compared to a net mine operating gain of $1.16 million in Q3 2022. Tahuehueto is nearing completion of 1,000 tonnes per day of installed capacity and on track to ramp up to commercial production in early 2024. Campo Morado's optimization program is expected to result in a revenue increase of at least 40% in 2024 with only very modest capital expenditures.
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Luca Mining Corp. (LUCA) Announces Positive Results from Campo Morado Mine Optimization Program in Mexico. The program, in collaboration with Ausenco, has increased copper, zinc, and lead recoveries and grades. Revenue expected to increase by at least 40% with modest capital expenditures.
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Luca Mining Corp. is progressing well with its expansion project to double throughput at its Tahuehueto Gold Mine in Mexico. The objective is to achieve an installed capacity of 1,000 tpd by year-end and announce commercial production in Q1 2024. Construction milestones are being met, including the installation of a second ball mill and the progress of the tailings embankment. The CEO is confident in delivering Tahuehueto as a profitable gold mine.
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FAQ
What is the current stock price of LUCA MINING (LUCMF)?
The current stock price of LUCA MINING (LUCMF) is $0.36 as of October 15, 2024.
What is the market cap of LUCA MINING (LUCMF)?
The market cap of LUCA MINING (LUCMF) is approximately 86.9M.
What recent achievement did Luca Mining Corp. announce regarding its Campo Morado mine?
Luca Mining completed successful metallurgical test work on the copper-lead separation process at Campo Morado.
What progress has Luca Mining Corp. made at the Tahuehueto Gold Mine?
The company is 97% complete in the construction of a new mill with a capacity of 1,000 tpd, aiming to increase production to +800 tpd.
How is Luca Mining Corp. planning to expand resources at the Tahuehueto Gold Mine?
Luca plans to start drilling in high-grade gold zones with significant mining widths at the Tahuehueto Gold Mine.
What is Luca Mining Corp.'s target production capacity at Campo Morado?
The company is ramping back up to 2,000 tpd at Campo Morado, having achieved an average throughput of approximately 1,390 tpd in Q1 2024.
What is Luca Mining Corp.'s focus apart from production growth?
In addition to production growth, Luca Mining is committed to integrating responsible and sustainable mining practices throughout its operations.
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OTC:LUCMF
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