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.

TSXV:LUCA - Post by User

Luca Mining Corp > i have a

<< Previous

Bullboard Posts

Next >>

Comment by okgonowon Apr 11, 2024 1:26pm

33 Views

Post# 35983739

RE:RE:i have a

psych01 wrote: Ok--thanks for the financing history, my head hurts---would this latest financing NR summarize current state of affairs?

Luca Mining Strengthens Balance Sheet: Successfully Completes Debt Settlement and Finalizes Restructuring

V.LUCA | January 19, 2024

VANCOUVER, BC, Jan. 19, 2024 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce it has received conditional TSX Venture Exchange ("TSXV") approval and closed a debt restructuring and debt transaction previously announced by news release dated December 6, 2023.

Also, do they just sell concentrates or do they pour some in house? IMO

LOL regarding your head.... trying to help you get filled in its jut been quite a lot of churn over the last 2 years

before they just sent one big tank of concentrate ( dont quote me on that) now see first highlighted section

The Company is pleased to advise that Trafigura has advanced an additional US$2,500,000 loan to assist the Company in completing the mine optimization program at Campo Morado. The ultimate goal of the optimization program is to enable Luca to deliver separate clean copper, zinc and lead concentrates to Trafigura with substantially higher recoveries and concentrate grades.

Mike Struthers, Luca's CEO stated: "The transactions described above substantially improve the financial condition of the Company and to a certain extent reflect the growing confidence in the Company's operations. On the one hand Trafigura has agreed to exchange US$5,800,000 of existing debt that was accruing interest into a non interest bearing Convertible Debenture payable in three years, while also facilitating the mine enhancement at Campo Morado with an additional US$2,500,000 loan, and on the other we have been able to remove approximately CAD$11,029,817 of loan liability from our balance sheet by the issuance of 17,750,000 shares, which works out to an effective cost of approximately CAD$.61 per share. These are all very positive developments for Luca from a cash flow and profitability perspective."