LUCA Achieves Strong Q1 2024 Results, Netting $7.3M Income Luca Mining Corp. (Ticker: LUCA.v or LUCMF for US investors) recently unveiled its Q1 2024 financial report, boasting substantial growth and profitability. The Canadian mining firm, operating two wholly-owned mines in Mexico, recorded a net income of C$7.3 million for the quarter ending March 31, 2024.
Production surged by 20%, resulting in 14,148 troy ounces of gold equivalent. Total net revenue soared to C$22.04 million, marking a 21% increase from Q4 2023. Meanwhile, operating income reached C$4.8 million, which contributed to the net income of C$7.3 million. Additionally, positive operating cash flow amounted to C$4.04 million before working capital adjustments.
LUCA's advantageous position with two enduring mines and bullish metal prices, anticipating significant shareholder value.
The company also aims to boost throughput and introduce a copper-lead separation process at its Campo Morado mine to yield three distinct, higher-value, concentrates
LUCA's Tahuehueto mine is nearing completion of major equipment installation and mill commissioning, aiming for a 1,000 tpd capacity. Pre-production averaged 250 tpd in Q1 2024, rising to 450 tpd by quarter-end.
Overall, Luca Mining Corp. is maintaining strong financial and operational performance, propelled by strategic initiatives and operational enhancements. With a steadfast focus on maximizing shareholder returns, the company is poised for sustained growth and profitability in the dynamic mining sector.
Full Press Release: https://lucamining.com/press-release/?qmodStoryID=4527755977412632
Posted on behalf of LUCA Mining Corp.