LUCA CEO Update on Financial Results LUCA Reports US$11.4M in EBITDA + CEO Breaks Down the Highlights
Following the reporting of its financial results, notably posing US$11.4M in EBITDA for the 9 months ended Sept 30, 2024, Dan Barnholden, CEO of the mid-tier producer Luca Mining (LUCA.v LUCMF), provided an update on the company’s Q3 performance and outlook: https://www.youtube.com/watch?v=BteYOqL9Xdk
This quarter marked a transitional phase, positioning the company for meaningful growth moving forward having reported operating cash flow of $2.4 million from its two mines, based on 12,000 ounces of gold equivalent production.
At Camp Morado, improvements are progressing well, with copper recoveries now approaching 80%. Work continues on the copper-lead separation project, a key focus area for enhancing operational efficiency. The site also celebrated one year without a lost-time incident, a notable safety milestone. Production ramp-up efforts are underway, targeting 2,000 tons per day by the end of 2024. Meanwhile, at the Tahuehueto mill, production has reached a consistent 800 tons per day, which is 80% of its nameplate capacity of 1,000 tons. The company also completed its first drill hole at, with further drilling planned and results expected early in 2025.
Looking ahead, Q4 is anticipated to be a pivotal quarter for LUCA , as the company expects to deliver strong operational and financial results, particularly at Camp Morado. As operations stabilize and expand, Luca Mining aims to generate significant cash flow starting in Q1 2025, creating value for shareholders and driving long-term growth.
For more information, refer to this summary of the latest news: https://x.com/StckMasterFlash/status/1861877977404887068
Full News Release: https://lucamining.com/press-release/?qmodStoryID=6598391845139055
Posted on Behalf of Luca Mining Corp.