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.