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Luca Mining Corp V.LUCA

Alternate Symbol(s):  LUCMF

Luca Mining Corp. is a diversified Canadian mining company with two 100%-owned producing mines in Mexico. It produces gold, silver, zinc, copper and lead from these mines that each have considerable development and resource upside. Its operations include Tahuehueto and Campo Morado. Tahuehueto project is in the northwest portion of the state of Durango, about 250 kilometers (km) northwest of Durango, the state capital, and 160 km northeast of the city of Culiacan, Sinaloa. The project is located about 25 km north of the Topia polymetallic-silver mine, 40 km northwest of the La Cienega gold, silver, base metal mine, 85 km southwest of the Guanacevi silver district, 280 km southeast of the Palmarejo silver and gold mine, and 150 km northwest of the San Dimas mining district, notable for the Tayoltita silver and gold mine. Campo Morado is a polymetallic underground operation located in the state of Guerrero, Mexico. It produces copper-zinc-lead concentrates with precious metals credits.


TSXV:LUCA - Post by User

Comment by aberlangaon Jul 13, 2022 6:07pm
115 Views
Post# 34822303

RE:RE:RE:Chen Lin interviews Ralph Shearing at MIF

RE:RE:RE:Chen Lin interviews Ralph Shearing at MIFDear Spikeroo1, too bad that you are not objective in your assessments. The lack of results is very evident, and my comments go just in the direction of seeking that ATLY works efficiently and give results. Regarding my management, you should know that I rescued Telson who had a market value below CAD$100,000 and took it with work to more than CAD$90M. An example of my management is the 11 successful toll mill campaigns, the bought of Campo Morado at an opportunity price and started operation it in 3.5 months after being 2.5 years in care and maintenance and the $ 8M of free cash generated in 6 months. Now in more than 2 years, in Tahuehueto they have only carried out one toll mill campaign and without results and have not been able to put Tahuehueto into production. I didn't want to touch on the issue of the reasons why I leave Telson, that is register on the February 2020 Board Meeting record when I submit my resignation, but you challenge me to comment on it. I did not want to continue with Telson because the Board supported the following initiatives: 1) That Escorfin/R. Guzman continue retaining in his funds US$5M that was required to finish and start Tahuehueto, 2) The creation of a Trust in favor of Trafigura, given practically all Telson's assets, 3) The signing of a loan agreement with Banco Accendo, the lowest rating Bank in Mexico, which was undercapitalized and granting very disadvantageous conditions for Telson, and 4) The takeover of the treasury by R. Guzmn's team. My ATLY shares are on offer, unfortunately there is no interest in Alta Ley despite the high quality of its assets due to the lack of fulfillment of objectives and results.

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