'Planned Work Programs for Q4 2024 and Beyond' Planned Work Programs for Q4 2024 and Beyond - Latest Luca Mining (LUCA.v, LUCMF) News & CEO Interview
Yesterday, Luca Mining (LUCA.v, LUCMF) provided an update on its activities following the completion of an $11.3 million equity financing with its efforts focused on three pillars: optimization, exploration, and expansion: https://www.youtube.com/watch?v=bjQwdDBmI0g
Key updates include:
Campo Morado Zinc/Gold/Copper Mine:
- Working with contractor Cominvi to ramp up mining performance, targeting over 2,000 ore tonnes per day by the end of Q4 2024, with further increases planned for 2025 and beyond.
- Metallurgical improvements are ongoing in collaboration with Ausenco, aimed at enhancing mill recoveries.
- Launching its first major drill program at Campo Morado in over a decade, with results expected to start coming in by mid-to-late Q4 2024.
Tahuehueto Gold Mine:
- Construction has been completed, and commissioning of the mill and plant is underway, with commercial production expected in Q4 2024.
- A significant drill campaign, the first in over 10 years, will begin in early Q4, with results anticipated in mid-to-late Q4 2024.
Balance Sheet:
- Debt repayments to Trafigura will begin in October 2024, with the goal of becoming debt-free by July 2026, though Luca aims to deleverage as quickly as possible.
- Company is well-funded after the recent financing round
Further, LUCA CEO Dan Barnholden detailed these latest updates in a recent video, highlighting his expectation for these programs to "not only lead to a near term valuation re-rating but also highlight the significant upside potential of our operations and to forge a path of organic growth ahead."
Full News Release: https://lucamining.com/press-release/?qmodStoryID=7914414852725440
Posted on Behalf of Luca Mining Corp.