Luca Mining - Mining Operational and Ramp-Up Updates At Campo Morado and Tahuehueto, Debt Repayment and Exploration Programs Starting This Month
Dan Barnholden, CEO of Luca Mining (TSX.V:LUCA - OTCQX:LUCMF - FSE:TSGA) joins us for an operational update and ramp up details from Campo Morado and Tahuehueto, both in Mexico.
Dan outlines the company's recent financing to aid in the production turnaround and future goals, including generating more free cash flow, improving recoveries at Campo Morado, and reaching commercial production at Tahuehueto.
For 2024, LUCA expects to produce 60,000-70,000 ounces, mostly from Campo Morado, with a goal to potentially double production in the near term, all from the two assets.
On the exploration front, efforts at both sites are set to recommence after a decade to grow resources and make new discoveries. Dan explains the capital management strategy, including debt repayment from free cash flow and plans to fund further exploration.
Please email any follow up questions for Dan. My email address is Fleck@kereport.com.
