LUCA CEO Video Breakdown/Summary In a recent episode of the TokStocks Small Cap Podcast, Luca Mining Corp. (Ticker: LUCA.v or LUCMF for US investors) CEO Dan Barnholden discussed the company’s strategic direction, operational milestones, and ambitious goals.
The company operates two 100%-owned polymetallic mines in Mexico: Campo Morado and Tahuehueto which it is developing through optimization, exploration and expansion.
The update underscores Luca Mining's transition to profitability, significant infrastructure assets, and exploration potential. Barnholden's key points include:
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CEO Investment: Barnholden, who transitioned from a 20-year career in investment banking, has personally invested $1 million into Luca Mining, aligning his interests with shareholders.
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Operational Overview:
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Campo Morado: Located in the Guerrero Gold Belt, this VMS-style polymetallic mine includes extensive infrastructure. Current efforts focus on ramping up to 2,400 tons per day, with exploration targeting resource expansion and grade improvements.
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Tahuehueto: This epithermal gold-dominant mine in Durango State is nearing commercial production, projected to deliver 1,000 tpd and 30,000 ounces of gold equivalent annually in 2025
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Exploration Potential: LUCA's current resource estimate is based on four veins, though 14 known veins and splays have been identified, offering, "an opportunity for us to get out and get aggressive with exploration at Tahuehueto."
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Production Goals: Luca aims to produce 100,000 ounces of gold equivalent by 2025, supported by ramp-up efforts at both mines.
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Financial Position: Following an $11.3 million financing in September, Luca is well-funded for its immediate operational needs. The company is optimizing costs, with an all-in sustaining cost of approximately $1,850 per ounce of gold equivalent.
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Debt-Free Target: The company is focused on eliminating debt by mid-2026, enhancing its financial flexibility.
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Infrastructure Advantage: Luca benefits from exceptional infrastructure at Campo Morado, including reliable grid power and a high-capacity mill. This positions the company for cost-effective production and further exploration.
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Strategic Vision: Luca’s dual focus on operational optimization and exploration provides multiple avenues for value creation. The company also aims to eventually return capital to shareholders through dividends or buybacks.
Barnholden emphasized Luca’s unique position as a small-cap producer with substantial infrastructure, exploration potential, and a clear path to profitability. With catalysts such as drill results, operational milestones, and the announcement of commercial production at Tahuehueto expected in early 2025, Luca Mining is poised for significant growth.
The full interview here:
Posted on behalf of Luca Mining Corp.