Today, LUCA closed up 9% on almost 3x its avg volume.
In a recent interview on Natural Resource Stocks, Rick Rule, prolific mining investor and President and CEO of Rule Investment Media LLC, shared his insights on Luca Mining Corp. (LUCA.v, LUCMF for US investors) and its potential and challenges in Mexico.
Luca Mining is a diversified Canadian mining company operating two mines in Mexico’s prolific Sierra Madre mineralized belt, which is known for hosting numerous historic and active mining sites. The company’s operations focus on producing gold, copper, zinc, silver, and lead, with each site offering significant development and resource potential.
One of Luca’s key assets is the Campo Morado mine, located in Guerrero State. This underground operation produces copper-zinc-lead concentrates with additional precious metals credits.
Campo Morado is currently undergoing the third stage of the Campo Morado Improvement Project (CMIP), launched in partnership with Ausenco in Q4 2023.
The project aims to enhance metallurgical performance, mill throughput, and overall operating cash flow. Early improvements have already led to significant increases in copper recovery, boosting revenues per milled tonne by 10% year-over-year.
LUCA is currently in the third stage of the improvement project, which will introduce new modifications to the processing plant, targeting higher liberation of copper and lead minerals, ultimately producing three distinct, saleable concentrates. Completion is anticipated by Q2 2025.
Luca’s second asset, the Tahuehueto Gold-Silver Mine in Durango State, is a newer underground operation. The mine’s mill is currently being commissioned, with commercial production expected by the end of this year.
Both operations represent a broader strategic effort by Luca to optimize production and capitalize on Mexico’s mineral wealth.
In the interview, Rule disclosed increasing his investment in the company, citing LUCA's strategic advantage in navigating the local political and social landscape due to its experienced management.
Despite the company's current operations in two small mines, Rule sees significant growth potential, particularly at Campo Morado.
He believes LUCA is well-positioned to capitalize on Mexico's rich mineral resources and expects the company to become a key player in the Mexican mining sector over the next five years.
Full video here:
Posted on behalf of Luca Mining Corp.