Mid Tier Producer Luca Mining's Corporate Update + Resumption of Debt Repayments Today, mid-tier producer Luca Mining (LUCA.v LUCMF) marked a significant milestone with the resumption of principal repayments on its term loans with Trafigura Mexico S.A. Aiming to be debt-free by 2027, LUCA is on track to eliminate term debt by 2026. The debt repayment will be made possible by the significant ramp up of production at their two 100% owned mines, the Tahuehueto Gold Mine and Campo Morado.
Tahuehue Gold Mine Drill Program On track to producer over 100,000 ounces of gold equivalent per year starting in 2025 from its two mines, LUCA has attracted significant attention as of late with both Rick Rule and Jeff Clark announcing their heavy investments.
Notably, LUCA recently commenced a major exploration drilling campaign at its near-term Tahuehueto Gold Mine which marks the first significant drill program at the mine in over a decade.
The campaign is targeting the extension of the resource and has significant potential given the lack of historic drilling despite its near-term production potential
Improved Cashflow Leveraging improved cashflow from its ongoing mining operations, this achievement reflects LUCA's commitment to optimizing financial performance while focusing on operational efficiency alongside its focus on strengthening its balance sheet and reducing debt to support its long-term financial stability.
Emphasizing that this is a pivotal moment for LUCA, Lisa Dea, CFO, stated:
"Our improved cash flow allows us to confidently resume debt repayments while maintaining our growth trajectory. This marks a critical step in strengthening our balance sheet and we are well-positioned to be debt-free by 2027. We are focused on using our cash flow to support both debt reduction and the continued success of our operations"
With the reduction of its debt, LUCA anticipates increased financial flexibility to support growth opportunities and enhance long-term shareholder value.
For more information, refer to this deep dive:
https://www.reddit.com/r/Canadapennystocks/comments/1gf2whs/reasons_for_strong_stock_performance_of_luca/ Full News Release:
https://lucamining.com/press-release/?qmodStoryID=8226889701778274 Posted on Behalf of Luca Mining Corp.