Latest news with #DanBarnholden
Cision Canada
28-05-2025
- Business
- Cision Canada
LUCA ANNOUNCES US$4.5 MILLION OF NET EARNINGS IN Q1 2025
VANCOUVER, BC, May 28, 2025 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to report an exceptional first quarter of 2025 with $4.5 million in net earnings, $7.6 million in EBITDA and $11.7 million in free cash flow before working capital items. All amounts are in U.S. dollars unless otherwise indicated. Highlights from the first quarter are as follows: In health and safety, the Company reported a TRIFR (total recordable injuries frequency rate) of 0.87, improvement over the prior year and achieved 1,000,000 hours of no lost time incidents at Campo Morado in the first quarter of 2025. Record revenues, up 117% from the same quarter in the previous year to over $47.4 million. Positive EBITDA of $7.6 million and adjusted EBITDA of $12.7 million. Positive free cashflow before working capital items increased significantly to $11.7 million. Record consolidated gold equivalent production of 21,293 ounces, a 51% increase compared to Q1 2024, supported by higher throughput and improved head grades at both Campo Morado and Tahuehueto. Strong throughput growth, with a 55% increase in tonnes milled year-over-year to 246,282 tonnes, Campo Morado processed 175,334 tonnes (+40%), while Tahuehueto more than doubled to 70,948 tonnes. Gold production reached 7,677 ounces, up 79% from Q1 2024, alongside increases of 69% in silver and 71% in zinc, reflecting higher grades and volumes at both mines. Lead and copper production increased 65% and 44%, respectively, year over year, supporting broader metal output diversification and revenue growth. Campo Morado sustained a near 2,000 tpd processing rate, supported by over 1,800 meters of mine development and improved haulage capacity with new trucks and ramp access. Tahuehueto gold equivalent production increased 90%, reaching 6,937 ounces, despite underground development delays, highlighting operational resilience and plant stability. All-in sustaining cost (AISC) per AuEq ounce sold remained controlled at $2,251, up just 9% from the prior year despite inflationary pressures and ramp-up expenses. Since January 1, 2025, the Company has paid down $8.4 million against its debt facilities, resulting in a current debt balance of $8.5 million. Luca's total cash and cash equivalents balance (including silver bullion on hand) is currently $24.6 million. Dan Barnholden, CEO, commented, " Our Q1 results are the product of a solid operational foundation laid over the course of 2024. Going forward, I expect our financial and operational results to demonstrate our commitment to continuous improvement at both of our mines. We have set the table for a transformational year and our results, announced today, are indicative of what Luca is capable of." The consolidated financial and operating results for the three months ended March 31, 2025, are summarized below. Operating metrics for the Campo Morado and Tahuehueto mines for the first quarter period ended March 31, 2025, are summarized below. Exploration Continues to Yield Promising Results for Resource Expansion Drilling is underway at both the Campo Morado and Tahuehueto mines with the objective to delineate additional near mine resources to add to the mine plan. The Company is also planning to drill farther afield to test the district scale potential of its properties. Campo Morado Drillhole CMUG-25-012 drilled 3.8 metres ("m") of 12.54 g/t AuEq (3.8m of 5.4 g/t Au, 288 g/t Ag, 0.8% Cu, 2.2% Pb and 6.4% Zn) within a wider 15.8m of 4.87 g/t AuEq (2.2 g/t Au, 109 g/t Ag, 0.3% Cu. 0.8% Pb and 2.4% Zn) representing the discovery of a new mineralized zone within the G9 Deposit (See Company News Release Dated May 12, 2025). Nineteen underground drillholes have been completed to date as part of a 5,000m Phase 1 program targeting near-mine resource expansion. Untapped high-grade mineral potential close to existing mine workings continues to be identified in under drilled zones – results to inform updated mineral resource and mine plans. In addition, surface drilling is underway to test property-wide targets including Reforma and El Rey – first exploration at these deposits since 2010. Campo Morado hosts a large cluster of polymetallic massive sulphide deposits containing gold, silver, zinc, copper, and lead mineralization within a highly prospective land package totaling over 121 square kilometres within the Sierra Madre del Sur mineral belt. Tahuehueto At Tahuehueto, a new high-grade breccia mineralized shoot was discovered within the El Creston vein system located approximately 60m below the active mine workings of Level 23. The discovery drill hole returned 9.4m of 5.21 g/t AuEq within a larger 13.9m zone of 3.90 g/t AuEq (See Company News Release dated May 5, 2025). An additional new high-grade breccia mineralized shoot was discovered at an untested area of the Creston FW Vein north of the current underground workings, with three new drill holes returning results including: 4.8m of 5.62 g/t AuEq, 6.9m of 4.10 g/t AuEq and 5.1m of 5.62 g/t AuEq, including 2.4m of 9.37 g/t AuEq. Twenty-three underground drillholes have been completed to date including over 550m of a planned 5,000m Phase 2 underground drilling program targeting near-mine resource expansion. Additional mineral potential was identified in underexplored zones and the results will inform updated mineral resource and near and medium term Tahuehueto mine plans. Surface drilling has begun at the Santiago deposit which is one of 18 identified mineralized veins on the Tahuehueto Property and has been prioritized for additional exploration for its favourable geology, shallow setting and historic mineral resource. The Company intends to carry on and expand its exploration efforts based upon the successful initial drilling results at Campo Morado and Tahuehueto. Multiple, untested priority targets exist at both projects. Cash Generation As planned, the Company has been steadily reducing its debt and since January 1, 2025, the Company has paid down $8.4 million against its debt facilities, resulting in a current debt balance of $8.5 million. Luca's total cash and cash equivalents balance (including silver bullion on hand) is currently $24.6 million and growing, as strong cash flow from operations continues and further warrant exercises are expected. Luca is in a unique position to benefit from the continuing strong commodity demand cycle with its diversified metal production profile. Along with its strong and growing cash balance, debt elimination in 2026, and expanding production levels, the Company is set for another quarter and beyond of exceptional performance. Inclusion in Solactive Index Fund Luca has met the inclusion criteria and has been added to the Solactive Global Copper Miners Total Return Index, with an inclusion date of May 1, 2025. This index is tracked by the Global X Copper Miners ETF (COPX). Further information is available on the respective websites for Solactive and Global X. Proactive and Successful Health and Safety Record The Company is proud of its outstanding health and safety record, having recently celebrated a major milestone of one million hours without a Lost Time Incident at Campo Morado. This achievement underscores the Company's unwavering commitment to safety and operational excellence and is a testament to the dedication, professionalism and teamwork of our operations team. Their commitment to high safety standards, clear communication and collaboration made this possible. Maintaining a safe and efficient work environment is a key pillar of the Company's sustainability and operational strategy. Luca continually invests in comprehensive safety training, rigorous protocols and advanced monitoring systems to protect the health and well-being of the Company's workforce at both the Campo Morado and Tahuehueto mines. As a conscientious mining entity, Luca recognizes the paramount importance of the Health and Safety of our employees and the significance of Environmental, Social, and Governance considerations in all aspects of its operations. Our four key pillars of responsible and sustainable mining operations are 1) Health and Safety, 2) Environmental Stewardship, 3) People, Community and Culture and 4) Governance & Ethics. About Luca Mining Corp. Luca Mining Corp. (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a Canadian mining company with two wholly owned mines located in the prolific Sierra Madre mineral belt in Mexico. These mines produce gold, copper, zinc, silver, and lead and generate strong cash flow. Both mines have considerable development and resource upside as well as tremendous exploration potential. The Company's Campo Morado Mine hosts VMS-style, polymetallic mineralization within a large land package comprising 121 sq km. It is an underground operation, producing gold, silver, copper, zinc, and lead. The mine is located in Guerrero State. The Tahuehueto Mine is a large property of over 75 sq km in Durango State. The project hosts epithermal gold and silver vein-style mineralization. Tahuehueto is a newly constructed underground mining operation producing primarily gold and silver. The Company has successfully commissioned its mill and is now in commercial production. For more information, please visit: On Behalf of the Board of Directors (signed) "Dan Barnholden" Dan Barnholden, CEO Qualified Persons The scientific and technical information contained in this press release relating to the Company's mines and mineral projects has been reviewed and approved by Mr. Ramon Mendoza Reyes, a Qualified Person within the meaning of National Instrument 43-101, "Standards for Disclosure of Mineral Projects." The scientific and technical information contained in this press release relating to the Company's geology and exploration projects has been reviewed and approved by Mr. Paul D. Gray, a Qualified Person within the meaning of National Instrument 43-101, "Standards for Disclosure of Mineral Projects." Cautionary Note Regarding Production Decisions and Forward-Looking Statements Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, estimated production guidelines for 2025 and other possible events, conditions or performance that are based on assumptions about the proposed exploration program and its anticipated results; the timing and costs of future activities on the Company's properties, such as production rates and increases and sustaining capital expenditures; success of exploration, development, and metres to be drilled in exploration on the Tahuehueto Mine site and the Campo Morado Mine site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans"," expects", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Tahuehueto Mine can be achieved; that consistent and sustainable mill feed at Campo Morado Mine will be achieved; the continuity of the price of gold and other metals and economic and political conditions. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Non-IFRS Financial Measures The Company has disclosed certain non-IFRS financial measures and ratios in this news release, as discussed below. These non-IFRS financial measures and non-IFRS ratios are widely reported in the mining industry as benchmarks for performance and are used by Management to monitor and evaluate the Company's operating performance and ability to generate cash. The Company believes that, in addition to financial measures and ratios prepared in accordance with IFRS, certain investors use these non-IFRS financial measures and ratios to evaluate the Company's performance. However, the measures do not have a standardized meaning under IFRS and may not be comparable to similar financial measures disclosed by other companies. Accordingly, non-IFRS financial measures and non-IFRS ratios should not be considered in isolation or as a substitute for measures and ratios of the Company's performance prepared in accordance with IFRS. Non-IFRS financial measures are defined in National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure ("NI 52- 122") as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ratio, fraction, percentage or similar representation. A non-IFRS ratio is defined by 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage or similar representation, (b) has a non-IFRS financial measure as one or more of its components, and (c) is not disclosed in the financial statements. SOURCE Luca Mining Corp.
Cision Canada
28-04-2025
- Business
- Cision Canada
LUCA'S CASH BALANCE SURGES TO US$21 MILLION THROUGH WARRANT EXERCISE AND CASH FLOW
VANCOUVER, BC, April 28, 2025 /CNW/ - Luca Mining Corp. (" Luca" or the " Company") (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to announce that Luca investors, including certain insiders, have exercised an aggregate of 38.8 million share purchase warrants worth USD$14.0 million (CAD$19.8 million). The Company has substantially reduced its debt by USD $8.4 million since January 1, 2025, resulting in a current debt balance of USD $8.5 million. Luca's total cash and cash equivalents balance (including silver bullion on hand) is currently US$20.6 million and growing, as strong cash flow from operations continues and further warrant exercises are expected. Outstanding warrants have been reduced to the following with the total outstanding common shares of the Company at 253.7 million: Dan Barnholden, CEO, commented, " With the expiry and exercise of most of the warrants associated with the recapitalization of the Company in 2023, Luca finds itself in a very strong financial position with a modest number of dilutable securities remaining. While we have a stated goal of eliminating debt as quickly as possible, we will also continue to fund high impact capital improvements at both of our mines, aggressively explore our broader property packages, pursue strategic M&A activity and consider the potential to return capital to shareholders. The improvement in our financial position over the course of the past year is nothing short of incredible and we appreciate the ongoing support of our shareholders as well as the excellent work conducted by our employees and various contractors." The number of outstanding warrants has been reduced materially, resulting in the Company being well-funded, with a strong balance sheet. In addition, Luca expects to generate free cash flow in the range of USD$30 million to USD$40 million in 2025, resulting in one of the best cash flow yields amongst its peers. Luca is in a unique position to benefit from the continuing strong commodity demand cycle with its diversified metal production profile. Along with its strong and growing cash balance, debt elimination in 2026, and expanding production levels, the Company is set for a year of exceptional performance. Inclusion in Solactive Index Fund Additionally, Luca notes that the Company has met the inclusion criteria and has been added to the Solactive Global Copper Miners Total Return Index, with an inclusion date of May 1, 2025. This index is tracked by the Global X Copper Miners ETF (COPX). Further information is available on the respective websites for Solactive and Global X. About Luca Mining Corp. Luca Mining Corp. (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a Canadian mining company with two wholly owned mines located in the prolific Sierra Madre mineralized belt in Mexico. These mines produce gold, copper, zinc, silver, and lead and generate strong cash flow. Both mines have considerable development and resource upside as well as tremendous exploration potential. The Company's Campo Morado Mine hosts VMS-style, polymetallic mineralization within a large land package comprising 121 sq km. It is an underground operation, producing zinc, copper, gold, silver and lead. The mine is located in Guerrero State. The Tahuehueto Mine is a large property of over 75 sq km in Durango State. The project hosts epithermal gold and silver vein-style mineralization. Tahuehueto is a newly constructed underground mining operation producing primarily gold and silver. The Company has successfully commissioned its mill and is now in commercial production. For more information, please visit: On Behalf of the Board of Directors (signed) "Dan Barnholden" Dan Barnholden, Chief Executive Officer Cautionary Note Regarding Forward-Looking Statements Certain statements included in this MD&A may contain forward-looking statements that relate to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements concerning: the future cash flows, profitability, financial and operating performance of the Company; estimated future metals prices, cut-off grades, operating costs, capital costs, commodity prices, rates of inflation, metallurgical recoveries, amenability of ore to mining and treatment, environmental considerations and labor availability; the estimation of reserves and resources; expected benefits and outcomes of mine optimization activities; the realization of reserve estimates; timing of technical reports, scoping studies, and preliminary economic assessments; expected content of scoping studies and preliminary economic assessments; anticipated working-capital requirements; capital expenditures; costs and timing of future exploration; requirements for additional capital; government regulation of resource operations; environmental risks; title disputes or claims; limitation of insurance coverage; and the maintenance of permits, licenses and surface rights necessary for the Company's operations. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "proposes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, but are not limited to: general business and economic uncertainties; exploration and resource extraction risks; uncertainties relating to permits, licenses and surface rights; the actual results of current exploration, development and mining activities; fluctuations in future metals prices; inherent risks of operating in a foreign jurisdiction; climate-change related risks; changes in capital and operating costs for the Company's properties; foreign exchange risks; changes in mine plan and design and the mining methods employed on the Company's properties; labor risks; lack of access to infrastructure, power and water; changes in labor laws; counterparty risk; volatility in the price of the Company's common shares; security risks; tailings pond risks; the outcome of negotiations; conclusions of economic evaluations and studies; future prices of natural resource based commodities; increased competition in the natural resource industry for properties, equipment and qualified personnel; risks associated with environmental compliance and permitting, including those created by changes in environmental legislation and regulation; natural disasters; the risk of arbitrary changes in law; title risks; and the risk of loss of key personnel. The forward-looking statements contained herein are based on a number of assumptions that the Company believes are reasonable but may prove to be incorrect. These assumptions include, but are not limited to, assumptions about: no material deterioration in general business and economic conditions; favorable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the production, development and exploration of the Company's properties and assets; future prices of gold, silver, copper, zinc, lead and other metal prices; the timing and results of exploration and drilling programs; the accuracy of any mineral reserve and mineral resource estimates; the geology of Tahuehueto and Campo Morado being as described in the respective technical report for each property; production costs; the accuracy of budgeted exploration, development and construction costs and expenditures; the price of other commodities such as fuel; future currency exchange rates and interest rates; operating conditions being favorable such that the Company is able to operate in a safe, efficient and effective manner; work force continuing to remain healthy in the face of prevailing epidemics, pandemics or other health risks (including COVID-19); political and regulatory stability; the receipt of governmental, regulatory and third party approvals, licenses and permits on favorable terms; obtaining required renewals for existing approvals, licenses and permits on favorable terms; requirements under applicable laws; sustained labor stability; stability in financial and capital goods markets; availability of equipment; positive relations with local groups and the Company's ability to meet its obligations under its agreements with such groups; and satisfying the terms and conditions of any debt obligations of the Company. The foregoing lists of factors and assumptions are not exhaustive. The reader should also consider carefully the matters discussed under the heading "Risks Factors and Uncertainties" elsewhere in this MD&A. Forward-looking statements contained herein are made as of the date hereof (or as of the date of a document incorporated herein by reference, as applicable). No obligation is undertaken to update publicly or otherwise revise any forward-looking statements or the foregoing lists of factors and assumptions, whether as a result of new information, future events or results or otherwise, except as required by law. Because forward-looking statements are inherently uncertain, readers should not place undue reliance on them. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cision Canada
24-04-2025
- Business
- Cision Canada
LUCA APPOINTS RAMON MENDOZA INTERIM COO
VANCOUVER, BC, April 24, 2025 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) reports that Mr. Armando Alexandri has stepped down from his role as Chief Operating Officer of the Company to pursue a new opportunity. He will remain a key technical consultant to the Company. Mr. Ramon Mendoza, Luca's Chief Technical Officer, has assumed the position of Interim COO effective, April 24, 2025. Mr. Mendoza has over 35 years of senior experience in the mining industry with expertise in mine development, mine process improvements, and a highly successful track record of managing both underground and open-pit operations. He specializes in advanced optimization techniques, integrating mine designs, planning, cost modeling tools, and geo-sciences into the mine and processing plans. Commenting on Mr. Alexandri's resignation, Dan Barnholden, CEO, said, "We are greatly appreciative of the work that Armando did as COO of Luca, guiding the company through an incredible operational turnaround. Over the past year, Luca has built operational depth in all roles and we have great confidence in the technical team, led by Ramon Mendoza. We wish Armando great success as he pursues new opportunities and we look forward to his continued support in his ongoing consulting role." About Luca Mining Corp. Luca Mining Corp. (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a Canadian mining company with two wholly owned mines located in the prolific Sierra Madre mineralized belt in Mexico . These mines produce gold, copper, zinc, silver, and lead and generate strong cash flow. Both mines have considerable development and resource upside as well as world-class exploration potential. The Company's Campo Morado Mine, located in Guerrero State, hosts VMS-style, polymetallic mineralization within a large land package comprising 121 sq km. It is an underground operation, producing zinc, copper, gold, silver and lead. The Tahuehueto Mine is a large property of over 75 sq km, located in Durango State. The project hosts epithermal gold and silver vein-style mineralization. Tahuehueto is a newly constructed underground mining operation producing primarily gold and silver contained in zinc and lead concentrates. The Company has successfully commissioned its mill and is now in commercial production. For more information, please visit: On Behalf of the Board of Directors (signed) "Dan Barnholden" Dan Barnholden, CEO Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Luca Mining Corp.
Associated Press
19-02-2025
- Business
- Associated Press
Luca Named to TSXV List of Top 50 Performing Companies
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (FSE: Z68) ('Luca' or the 'Company') is pleased to announce that it has been included in the 2025 TSX Venture 50 TM list of top performing companies. To view an enhanced version of this graphic, please visit: TSX Venture 50 TM is an annual ranking of the top performing companies over the last year on the TSX Venture Exchange. The companies are ranked based on three equally weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value. To view an enhanced version of this graphic, please visit: Dan Barnholden, CEO, commented, " We have delivered an approximate 77% increase in our share price over the course of 2024, and I'm pleased to see that this trend has continued into 2025. We appreciate the recognition by TSXV of our efforts at building shareholder value. We expect 2025 to be another transformative year for Luca as we continue to grow our production and cash flow and embark on exciting exploration programs at both of our operating mines.' Commenting on the TSX Venture 50 TM, Tim Babcock, President of the TSX Venture Exchange, said, " The performance of the TSX Venture 50 underscores the strategic importance of Canadian natural resources and high-growth innovation. With heightened demand for critical minerals, energy security and transition, and advanced manufacturing, this year's TSX Venture 50 showcases how TSXV is empowering Canadian businesses to raise capital, scale operations, and contribute to a secure and prosperous future for Canada. ' About Luca Mining Corp. Luca Mining (TSXV: LUCA) (OTCQX: LUCMF) (FSE: Z68) is a diversified Canadian mining company with two 100%-owned producing mines within the prolific Sierra Madre mineralized belt in Mexico which hosts numerous producing and historic mines along its trend. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside. The Campo Morado polymetallic VMS mine is an underground operation located in Guerrero State. It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimization program which is already generating significant improvements in recoveries, grades, efficiencies, and cashflows. The Tahuehueto epithermal gold and silver mine is a new underground operation in Durango State. The Company is commissioning the Tahuehueto mill and expects to achieve commercial production in early 2025. On Behalf of the Board of Directors (signed) 'Dan Barnholden' Dan Barnholden, Chief Executive Officer Contact Information: Sophia Shane Director of Corporate Development [email protected] +1 604 306 6867 +1 604 306 6867 Glen Sandwell Corporate Communications Manager Cautionary Note Regarding Forward-Looking Statements It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ('PEA') mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018). Statements contained in this news release that are not historical facts are 'forward-looking information' or 'forward-looking statements' (collectively, 'Forward-Looking Information') within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the Financings, the anticipated timing of closing thereof and the expected use of proceeds therefrom; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as 'plans,' 'expects,' 'scheduled,' 'estimates,' 'forecasts,' 'intends,' 'anticipates' or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that all requisite approvals in respect of the Financings will be received, and all conditions precedent to completion of the Financings will be satisfied, in a timely manner; the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Yahoo
19-02-2025
- Business
- Yahoo
Luca Named to TSXV List of Top 50 Performing Companies
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (FSE: Z68) ("Luca" or the "Company") is pleased to announce that it has been included in the 2025 TSX Venture 50TM list of top performing companies. To view an enhanced version of this graphic, please visit: TSX Venture 50TM is an annual ranking of the top performing companies over the last year on the TSX Venture Exchange. The companies are ranked based on three equally weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value. To view an enhanced version of this graphic, please visit: Dan Barnholden, CEO, commented, "We have delivered an approximate 77% increase in our share price over the course of 2024, and I'm pleased to see that this trend has continued into 2025. We appreciate the recognition by TSXV of our efforts at building shareholder value. We expect 2025 to be another transformative year for Luca as we continue to grow our production and cash flow and embark on exciting exploration programs at both of our operating mines." Commenting on the TSX Venture 50TM, Tim Babcock, President of the TSX Venture Exchange, said, "The performance of the TSX Venture 50 underscores the strategic importance of Canadian natural resources and high-growth innovation. With heightened demand for critical minerals, energy security and transition, and advanced manufacturing, this year's TSX Venture 50 showcases how TSXV is empowering Canadian businesses to raise capital, scale operations, and contribute to a secure and prosperous future for Canada." About Luca Mining Corp. Luca Mining (TSXV: LUCA) (OTCQX: LUCMF) (FSE: Z68) is a diversified Canadian mining company with two 100%-owned producing mines within the prolific Sierra Madre mineralized belt in Mexico which hosts numerous producing and historic mines along its trend. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside. The Campo Morado polymetallic VMS mine is an underground operation located in Guerrero State. It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimization program which is already generating significant improvements in recoveries, grades, efficiencies, and cashflows. The Tahuehueto epithermal gold and silver mine is a new underground operation in Durango State. The Company is commissioning the Tahuehueto mill and expects to achieve commercial production in early 2025. On Behalf of the Board of Directors(signed) "Dan Barnholden"Dan Barnholden, Chief Executive Officer Contact Information: Sophia ShaneDirector of Corporate Developmentsshane@ 604 306 6867 Glen SandwellCorporate Communications Managerir@ For more information, please visit: Cautionary Note Regarding Forward-Looking StatementsIt should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018). Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the Financings, the anticipated timing of closing thereof and the expected use of proceeds therefrom; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that all requisite approvals in respect of the Financings will be received, and all conditions precedent to completion of the Financings will be satisfied, in a timely manner; the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Sign in to access your portfolio
