Luca Mining – Introduction To This Mining Company, With 2 Assets In Mexico And A New Management Team Focused On Stabilizing Production For Stronger Cash-Flows Next Year
I was recently introduced to Mike Struthers, CEO of Luca Mining (TSX.V:LUCA – OTCQX:LUCMF – FSE:TSGA). This gold, silver and base metals mining Company is planning a significant production turnaround throughout this year and into 2024. The Company holds 2 Projects in Mexico, Campo Morado and Tahuehueto.
I have Mike provide a big picture overview of the production turnaround strategy at both mines. We start with the Campo Morado Mine which has experienced inconstant performance due to the VMS nature of the deposit and weak recoveries. Mike shares how the Company is working to stabilize production and improve recoveries.
The Tahuehueto Project is a production growth story with the mine starting at 500 tpd by the end of this month and growing to 1,000 tpd by the end of the year. Next year the Company is forecasting around C$40million of operating cash-flow in total from both mines.
We also discuss the new management team leading this production turnaround as well as the financial position of the Company.
If you have any follow up questions for Mike or would like more information on any aspect of the Company please email me at Fleck@kereport.com.
Click here to visit the Luca Mining website to read over the Company’s Corporate Presentation.
Another stock that I really like is HighGold Mining, they have fantastic drill results, but they have been kicked to the curb. Ex, has done his DD on this one and tried to get The CEO on for an interview. I think they are playing it low key but when they do a financing there are no warrants, management cares about dilution, they know that investors get screwed by too many share increases, I look for that in a company as well as other things. I think Eric Sprott would be all over HighGold if they had warrants attached to their financings. They recently spun off their other properties into a “spinco” and left their main focus The Johnson Tract in Alaska, with HighGold. DT
Hi DT. Yeah, I’ve tried to get HighGold on the show a number of times to no avail, and at one point a year of maybe two back I was a shareholder.
When we talked with Tavi Costa last he was intrigued by the new spin-co Onyx, and I want to take a closer look at that once it is putting out news on it’s strategy and projects.
I mentioned this stock to Ex, about one year ago when it was Altaley Mining. They were just starting up Tahuehueto, at the time it was 300 TPD (gold and silver) and now has ramped up to 500, and Campo Morado is 1000 TPD (some precious metal but mostly base metal credits.) Mike Struthers is a fiscally responsible CEO which Luca Mining needed. DT