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Luca Mining's Q3 2023 Overview: Optimizing Campo Morado and Progress at Tahuehueto Mining Project
Luca Mining's Q3 2023 Overview: Optimizing Campo Morado and Progress at Tahuehueto Mining Project...
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[{"type":"text","content":"\n \n \n \n Luca Mining's Q3 2023 Overview: Optimizing Campo Morado and Progress at Tahuehueto Mining Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 4, 2023\n \n \n /CNW/ -\n \n Luca Mining Corp.\n \n (\"\n \n Luca\n \n \" or the \"\n \n Company\n \n \") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) announces its financial and operating results for the third quarter and nine months ended\n \n September 30, 2023\n \n . The Company reports net revenue of\n \n $15.1 million\n \n in Q3 2023, representing a 2% increase over net revenue of\n \n $14.8 million\n \n in Q3 2022.  Mine operating income (before depletion, depreciation, and amortization) in Q3 2023 was\n \n $0.30 million\n \n compared to\n \n $1.50 million\n \n in Q3 2022. The net mine operating loss in Q3 2023 was\n \n $0.74 million\n \n compared to a net mine operating gain of\n \n $1.16 million\n \n in Q3 2022.\n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n Tahuehueto is nearing completion of 1,000 tonnes per day of installed capacity before year end and on track to ramp up to commercial production in early 2024. First phase production from the mine is expected to achieve over 40,000 ounces gold equivalent per year with an AISC of under USD\n \n $1,000\n \n per AuEq ounce*.\n \n \n \n Campo Morado\n \n initiated an optimization program designed in cooperation with consulting metallurgical engineers, Ausenco, which has already demonstrated substantial increases in both recoveries and grades of the copper-lead and zinc concentrates.\n \n \n The Company expects the optimization program to result in a revenue increase of at least 40% in 2024 with only very modest capital expenditures.\n \n \n \n \"\n \n During the third quarter of 2023, the Tahuehueto Mining project continued progressing towards its objective of achieving 1,000 tonnes per day installed capacity by year-end and announcement of commercial production early in 2024\n \n ,\" said\n \n Mike Struthers\n \n , CEO. \"\n \n Following a challenging operational p...