RE:RE:RE:RE:RE:RE:RE:RE:with I have been holding and buying Luca shares for over 2 years been through all the disasters and misses as far as the constant delays the lender fiasco and then all the pressure of the cheap pp,s and then the unending sells into the bids driving SP into the basement.
Ralph (CEO previous to struthers) was a nice guy but self admittedly not a good operations guy. When they hired Struthers there was a glimps of hope and he turns the Luca ship around getting construction on path with deadlines and getting some knowable guys in to get campo on track with blending to improve and balance grades and implementation of running mine more efficiently and increasing recovery rates. I was very disappointed when he decided to leave ( but still on the board as an advisor and hope he stays involved) i now hope they can find someone sooner than later with the same kind of credentials to take over !!!!!!
the only thing you forgot to mention is there was some company that was going to reprocess the tailings from Campo as they contained lots of minerals they didn't extract because of the inaficiancys before and with prices going up I would think it is even more profitable now.
Hopeing they are now producing at full capacity at the new mine and we should see a big improvement in Q1 already.
andbif POG holds above $2300 and with copper on a tear as well Q2 is going to be stellar as long as they are able to operate without incident ....steady as she goes . They have installed the second ball mill and later this year should be able to increase thru put at new mine.
as far as mine life and reserves are concerned they have barely scratched the surface at both sights ....but agree with them saying first we need mills operations running smoothly pay down debt and then start putting money into extensive drill program next year.
Im hoping with Q1 numbers we get solid guidance for the next Q's and rest of year.