RE:RE:New Press Release - Luca Mining's Upgrade Initiative at Campo Morado Gets Financial Boost with New Funding PackageI actually think that this financing package and debt restructuring is overall positive. Don't like the dilution but overall I think it is positive and removes the overhang of the debt and the funds raised will be used to optimize CM to increase metal recoveries. That needs to be done in order for the energy being expended to recover more efficient. Fine I get that.
The news said that all this should be in place by 2nd quarter sometime for CM and T should be declaring commercial production at 1000 TPD 1st quarter.
So 2024 is looking to be a good year for LUCA and we should have notably positive earnings and cash flows and then they can start drilling again to expand resources and hopefully find some significant additional resources. Need to get total production to over 100,000 AUeq onces per year.
Guess we will see how the market reacts throughout the day.