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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. reports robust Q1 2024 production, with significant increases in gold equivalent output at Tahuehueto and Campo Morado mines. The company achieved positive results with the installation of a second mill and ongoing optimization programs. Expectations of commercial production and positive cash flow in H2 2024. President emphasizes progress and plans for further enhancements in operations.
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Luca Mining Corp. appoints Mr. Israel Munoz as Vice President Finance, enhancing corporate governance and financial reporting. The company grants 200,000 stock options to incentivize growth.
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Luca Mining Corp. provides updates on its operations in Mexico, highlighting progress at the Tahuehueto gold and silver mine and Campo Morado copper, zinc, lead mine. The company reports nearing completion of construction at Tahuehueto with plans for a 1,000 tonne per day operation in 2H 2024. Campo Morado optimization program shows improved productivity and cash flow, with positive operating cash flow. Management changes include Mike Struthers stepping back as CEO, Ramon Perez as Interim CEO, and market-making services initiated to improve share liquidity.
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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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FAQ
What is the current stock price of Luca Mining (LUCMF)?
The current stock price of Luca Mining (LUCMF) is $0.961 as of February 21, 2025.
What is the market cap of Luca Mining (LUCMF)?
The market cap of Luca Mining (LUCMF) is approximately 117.0M.
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.
Luca Mining Corp