Luca Mining Corp V.LUCA

Alternate Symbol(s): LUCMF

Metals & Mining Industrial Metals & Minerals

Luca Mining Corp. is a Canada-based mining company operating in Mexico that engages in exploration, development and operation of polymetallic mineral resource projects in Mexico. It offers a portfolio of two advanced projects: Tahuehueto and Campo Morado. The Company's Tahuehueto Gold Mine Project is in north-western Durango State, Mexico where construction of an initial 500 tons per day (tpd) operation is well advanced. The commercial production, the 1,000 tpd project, shall follow immediately after commissioning the initial stage. The operation is generating gold, silver, lead and zinc in concentrates. Its Campo Morado is an operating polymetallic base and precious metals mine producing at an average of 2,400 tpd, generating zinc and copper concentrates with significant precious metals credits.

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Luca Mining Corp > 3rd Quarter financials looking good !

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Post by mahoonon Nov 23, 2021 12:55pm

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Post# 34157714

3rd Quarter financials looking good !

Vancouver, British Columbia--(Newsfile Corp. - November 23, 2021) - Altaley Mining Corporation (TSXV: ATLY) (OTC Pink: ATLYF) (FSE: TSGA) ("Altaley" or the "Company") announces strong financial and operating results for the three months ended September 30, 2021 (Q3 - 2021). The Company's Financial Statements and Management Discussion & Analysis ("MD&A") are available on the Company's website at www.altaleymining.com and www.sedar.com. All financial information contained in this news release is unaudited and reported in CDN$, unless otherwise stated.

"Our Campo Morado team have produced another excellent quarter of operational results," stated Ralph Shearing, CEO. "Q3 AISC and C1 Cash Costs have reduced by $0.07 and $0.03 respectively per pound of zinc produced as compared to Q2 2021, resulting in gross revenue of just over $23 million and mine operating profit of $9.55 million for the quarter."

Q3 - 2021 Financial and Operational Highlights

Mine operating profit of $9.5 million and total income of $4.3 million during the quarter and mine operating profit of $23.8 million and total income of $15.7 million year to date.
10,743 tonnes of zinc concentrate produced with an average of 45% zinc, 2.29 g/t gold, 724 g/t silver and sold approximately 10,169 tonnes of zinc concentrate generating revenue from zinc concentrate of US$12.32 million. The Company also produced 2,690 tonnes of lead concentrate grading an average of 22% lead, 1.56% copper, 5.45 g/t gold, 919 g/t silver and sold 2,296 tonnes generating revenue from lead concentrate of US$2.1 million.
Total C1 cash cost per pound of zinc US$0.45 and all-in sustaining costs* ("AISC") of US$0.70 during the quarter.
The Company processed 168,443 tonnes of mineralized material, compared to approximately 127,438 tonnes of ore processed in the comparative period.
Mineralized material mined during the period was 151,388 tonnes grading 4.30% zinc, 1.18% lead, 137 g/t silver and 1.13 g/t gold, achieving recoveries of 66.4% in zinc, 29% in lead, 11.3% in gold, and 23% in silver.