LUCA.v Appoints New CEO, Dan Barnholden Luca Mining (Ticker: LUCA.v or LUCMF for US investors) stands as a dynamic and diversified Canadian mining entity, showcasing significant prowess in the production of gold, copper, zinc, silver, and lead. With two wholly-owned producing mines in Mexico, LUCA is poised for substantial growth and development.
Campo Morado Mine: Optimizing Operations for Enhanced Output
LUCA's Campo Morado mine, nestled in the prolific Guerrero State of Mexico, is an underground operation that generates copper-zinc-lead concentrates with precious metals credits. Currently, the mine is undergoing an intensive optimization program aimed at enhancing recoveries, grades, efficiencies, and cashflows. This program has already started to yield notable improvements, signaling a robust future for Campo Morado’s operational output.
Tahuehueto Gold, Silver Mine: A New Frontier in Production
In Durango State, Mexico, LUCA's Tahuehueto Gold, Silver Mine is set within the mineral-rich Sierra Madre Mineral Belt, an area renowned for its numerous producing and historic mines. LUCA is in the final stages of installing major equipment and commissioning its mill capacity to handle 1,000 tonnes per day. With key test work and production ramp-up underway, the Company anticipates a significant increase in production by the second half of 2024.
Financial Projections and Growth Strategy
As LUCA advances its operational capabilities, the Company forecasts its operations will start generating positive cash flows this year. Overall in 2024 LUCA expects to produce ~65,000 oz of gold equivalent and generate between $90 million and $105 million in revenue. This financial progress is a testament to Luca’s commitment to maximizing shareholder returns and driving growth.
Leadership Transition: Dan Barnholden Takes the Helm
Yesterday, in a strategic move, LUCA's board of directors has appointed Mr. Dan Barnholden as the Company's Chief Executive Officer. Mr. Barnholden brings over 20 years of experience in senior mining investment banking, having raised billions in debt and equity and advised numerous companies on critical financial and strategic matters. His impressive credentials include a B.A. with Great Distinction from McGill University and an MBA from the Richard Ivey School of Business, where he was an Ivey Scholar.
Dan Barnholden’s Commitment to Luca’s Success
Expressing his excitement about his new role, Mr. Barnholden stated, "I am honoured and excited about the opportunity to lead LUCA into its next chapter. Today, the Company is at an exciting juncture, as Campo Morado continues to increase production and Tahuehueto moves to declaring commercial production. I believe that Luca represents a unique opportunity to apply my skill set to create significant value for all stakeholders."
Under Mr. Barnholden’s leadership, LUCA is set to enhance its strategic, financial, and governance frameworks, ensuring a robust path towards achieving its vision of becoming a prominent mid-tier mining company. With a dedicated team and solid operational foundations, LUCA is well-positioned for a future marked by growth, efficiency, and shareholder value maximization.
Full news here
https://lucamining.com/press-release/?qmodStoryID=7663350013085735
Posted on behalf of LUCA Mining Corp.