Business
Luca Mining Reports $10.5 Million of Net Earnings in Q2
Q2 Revenue Increases to 58.4 Million; First-Half Net Earnings Reach 23.1 Million VANCOUVER, BC, Aug. 17, 2026 /CNW/ -- Luca Mining Corp. ("Luca" or the
About this update from Luca Mining Corp
Q2 Revenue Increases to 58.4 Million; First-Half Net Earnings Reach 23.1 Million VANCOUVER, BC, Aug. 17, 2026 /CNW/ -- Luca Mining Corp. ("Luca" or the "Company") (TSX-V: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to report operational and financial results for the second quarter and six months ended June 30, 2026. The Company delivered another strong financial quarter, generating revenue of $58.4 million, net earnings of $10.5 million, adjusted net earnings of $6.9 million and Adjusted EBITDA of $14.3 million. Revenue increased 47% and mine operating earnings increased 90% compared to Q2 2025, supported by significantly stronger realized metal prices and continued contributions from both operations. For the first six months of 2026, Luca generated $116.0 million of revenue, $23.1 million of net earnings and $36.7 million of Adjusted EBITDA. Strong operating cash generation enabled the Company to fund significant underground development, sustaining capital, infrastructure and exploration expenditures, substantially reduce debt, meet its obligations under the Empress silver stream, repurchase shares under its Normal Course Issuer Bid ("NCIB"), and maintain a cash balance of $24.7 million at June 30, 2026. Q2 2026 Highlights Strong and consistent quarterly revenue: Revenue increased 47% to $58.4 million compared with $39.7 million in Q2 2025 and remained above the $57.6 million generated in Q1 2026. First-half revenue reached $116.0 million, an increase of 43% over the comparable period of 2025. Q2 revenue included $1.9 million of negative provisional pricing adjustments related to concentrate shipments made in prior periods. Strong profitability continued in Q2: Net earnings were $10.5 million, or $0.04 per share, compared with a net loss of $3.2 million in Q2 2025. Together with the $12.6 million earned in Q1 2026, Luca generated $23.1 million of net earnings in the first six months of 2026, compared with $1.3 million in the first half of 2025. Adjusted EBITDA increased 156% year-over-year to $14.3 million for Q2 and for the first six months of 2026, Adjusted EBITDA reached $36.7 million. Positive free cash flow while continuing significant investment: Operating cash flow before working capital changes was $13.9 million during Q2 2026. After approximately $11.3 million of capital investment, the Company generated free cash flow befo...