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Bullboard - Stock Discussion Forum Luca Mining Corp V.LUCA

Alternate Symbol(s):  LUCMF

Luca Mining Corp. is a diversified Canadian mining company with two 100%-owned producing mines in Mexico. It produces gold, silver, zinc, copper and lead from these mines that each have considerable development and resource upside. Its operations include Tahuehueto and Campo Morado. Tahuehueto project is in the northwest portion of the state of Durango, about 250 kilometers (km) northwest of... see more

TSXV:LUCA - Post Discussion

Luca Mining Corp > NEW MANAGEMENT
View:
Post by Smartminer on Dec 09, 2022 2:10pm

NEW MANAGEMENT

Three months were necessary to identify the situation of the company and its organization, the conclusions are obvious, Tahuehueto did not comply with the conclusion of the project construction on the different promised dates and there is a considerable delay and over budget. The new plans are the same as three years ago, dividing the project into two stages of 500tpd and 1000tpd.

New CEO must take in consideration that past management diluted the company more than 100% to obtain financing that were not reflected in value and positive results.

As example, before the past management, in Tahuehueto more than 40,000 tons of ore were processed in toll mills and which despite not having adequate equipment were successful, obtaining very good technical and economic results, so it is difficult to understand why after three years past management have not been able to produce quality concentrates regularly.

Also incredible are the excuses about the drop in production at Campo Morado, a mine that has been operating for several years, where there is full knowledge of the ore deposit and its conditions, so there should be no surprises like those that have been affecting the projected production. 

With the new financing scheduled the company will be substantially diluted again. Shareholder hope that these new resources, this time, will be correctly applied with discipline and improvement.

Shareholders wish success to the new management and we will be waiting for 2023 budget and detailed plan as well for a  monthly updates on compliance.
Comment by austrochris on Dec 12, 2022 1:34pm
i agree you . you hit the point
Comment by StanOs on Dec 16, 2022 12:42pm
Lets see what management does. I am looking at what the CEO has managed to do with Candelaria which seems to have similar opperational problems. He has not managed to resolve them for Candelaria. It looks like the same group behind the sceens including the COO and senior technical advisors. Looking at the opperations performance of companies like Altaley, Candelaria, Impact Silver, in a country ...more  
Comment by FrankCowperwood on Dec 21, 2022 6:39pm
As I remember Candelaria was caught on precious metals financing drought and wasn't able to secure financing for development of its mine.
Comment by StanOs on Dec 25, 2022 7:34pm
Looking at the financial statements and MD&A, Candelaria went into playing dead mode hiding from reality. I do not buy it is a problem with the market, but rather what the company is offering the market something akin to roadkill rather than pushing a very possitive storey. Following the crash in 2008, the companies rebounded by fighting to show the world they had something to show worth ...more  
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