Luca Mining (TSXV: LUCA; US-OTC: LUCMF) is set for a transformative year in Mexico as its Campo Morado polymetallic mine is set to double production by year-end, chief owner Javier Reyes said in an interview.
The Campo Morado plant, operating below capacity, is expected to double its output to 2,400 tonnes daily by year-end. Meanwhile, the company has completed construction at the Tahueheuto mine, which is also in Mexico and is slated to achieve commercial production by September. Reyes says the company’s risk-averse approach in Mexico underpins its success.
“We didn’t want to take any exploration, permitting, or capex risk because these are where most companies fail,” he said during the Rule Symposium in Boca Raton, Fla. “Our focus is on having big projects with all the capex behind, all the permits in place, producing, and with an incredible management team. This is why we believe Luca Mining is the most undervalued investment opportunity.”
Luca Mining expects to produce 60,000 oz. of gold-equivalent this year and projects revenues of $150 million. By 2025, with both assets at full capacity, it forecasts revenues will soar to $250 million, generating $80 million in operating cash flow.
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby, below:
Be the first to comment on "Video: Luca Mining targets low-risk growth in Mexico "