Yesterday, Luca Mining Corp. (Ticker: LUCA.v or LUCMF for US investors) announced a record net quarterly revenue of US$18.2 million for Q2 2024, reflecting a 49% increase year-over-year.
LUCA produces gold, silver, zinc, copper, and lead, with its 100%-owned mines in Mexico: the Campo Morado underground mine and Tahuehueto Gold Silver Mine.
For the six months ending June 30, 2024, the company reported total net revenue of US$34.5 million, marking a 33% increase compared to the same period in 2023.
LUCA also achieved positive net earnings of US$4.7 million in Q2 2024, a 217% increase over Q2 2023, with earnings per share (EPS) up by 130% to US$0.03 per share.
For the first half of 2024, total net earnings reached US$10.0 million, a significant 303% increase, with EPS climbing 175% to US$0.06.
The company reported positive cash flow from operations at US$739,000 and an adjusted EBITDA of US$4.1 million for Q2.
Production during the quarter included 13,947 troy ounces of gold equivalent, with contributions from gold, silver, zinc, copper, and lead.
LUCA completed major construction at its Tahuehueto Gold Silver Mine and expects to reach full production by Q4 2024.
In addition, ongoing improvements at the Campo Morado mine are anticipated to enhance efficiencies and throughput, positioning the company for continued growth in the latter half of 2024.
CEO Dan Barnholden expressed optimism regarding the company's performance, highlighting positive income, EBITDA, and cash flow from operations.
CFO Lisa Dea also emphasized the company's transformation over recent months, indicating a strong outlook for continued growth.
Full report here: https://lucamining.com/press-release/?qmodStoryID=6421229754912224
Posted on behalf of Luca Mining Corp.