LUCA CEO on Strong Q2 Financial Performance Providing an update on the company's strong Q2 2024 financial performance, LUCA Mining (LUCA.v LUCMF) CEO, Dan Barnholden, detailed the key highlights: https://www.youtube.com/watch?v=zV0QCUTNlAo
- Total revenue of $18 million, up 49% from Q2 2023.
- Net earnings of $4.7 million, a 217% increase year-over-year.
- Positive cash flow from operations for the second consecutive quarter ($739,000).
- EBITDA of $6.1 million and adjusted EBITDA of $4.1 million.
- Total production of 14,000 gold equivalent ounces, including 4,278 ounces of gold, 188,000 ounces of silver, 3,250 tons of zinc, and 706 tons of copper.
Expected to decrease as production ramps up, operating costs (AISC) were $1,714 at Campo Morado and $1,677 at Tahuehueto.
Further, improvements in recovery and mining rates are expected to boost production to over 70,000 ounces of gold equivalent in 2025 at Campo Morado and construction at the Tahuehueto site is complete with the expectation to begin commissioning by Q4 2024, aiming for 30,000 ounces of gold equivalent production in 2025.
Pleased with the quarter’s results, Barnholden is looking forward to continued progress at both sites.
Full News Release: https://lucamining.com/press-release/?qmodStoryID=6421229754912224
Posted on Behalf of Luca Mining Corp.