Luca Mining Corp. Reports Significant Growth and Operational Success in 2024 Year-End Results

Vancouver-based Luca Mining Corp. has announced impressive results for the fourth quarter and entire year ending December 31, 2024. The company has showcased transformative growth, highlighted by a record production figure of 57,487 ounces in gold equivalent. This remarkable outcome led to an exceptional mine operating cash flow, amounting to USD $22.3 million, and a notable net free cash flow of USD $6.6 million, with an adjusted EBITDA of USD $14.1 million. These results reflect the effectiveness of the company’s operational strategies, including construction optimization and efficient mine planning.

Looking forward to 2025, production is anticipated to range between 80,000 to 100,000 ounces of gold equivalent, representing a promising year-on-year increase of over 38% to 73%.

The financial performance for the year resulted in a net revenue increase of 59%, totaling USD $80.6 million, and a remarkable rise in mine operating earnings by an astounding 1,477% to USD $17.2 million. Although cash costs and all-in sustaining costs saw increases of 20% and 15% respectively, the company's strategic investments and transition to contract mining at Campo Morado were significant drivers of these results.

Interestingly, the company's net earnings suffered due to a non-cash accounting adjustment related to the Tahuehueto silver stream modification implemented during 2024. This resulted in a cumulative non-cash expense of USD $14.4 million, leading to a net loss of USD $10.4 million for the year. However, future assessments of this stream will provide opportunities for recovery in subsequent quarters.

Milestones and Achievements

CEO Dan Barnholden remarked on the year, stating, “It has been an extraordinary year for Luca, with transformative changes in our operations and finances, spurring high-impact exploration at both our mines.” The year also featured significant operational improvements, including the achievement of one million hours without a Lost Time Incident at Campo Morado, a testament to the company's commitment to safety.

Furthermore, the mill throughput at both operational sites ramped up successfully, with Campo Morado achieving its goal of processing 2,000 tonnes daily. The exploration endeavors of 2024 also sparked optimism, uncovering significant new mineralized zones at both Campo Morado and Tahuehueto, which had not been drilled in over a decade.

Exploratory Initiatives

The announced 5,000-metre exploration program aims to define additional near-mine resources while evaluating the broader potential of the district. Noteworthy results have led to the discovery of new high-grade mineralization zones, invigorating future exploration avenues.

Debt management remains a priority, as Luca Mining has halved its debt to USD $9 million. This progress allows the company to reinforce its balance sheet amid ongoing operational improvements. The completion of a USD $11.3 million private placement bolsters future initiatives in exploration and mill commissioning.

In conclusion, Luca Mining Corp. stands poised for further growth in 2025, highlighting its commitment to excellence and responsible mining practices. The company’s performance not only reflects substantial operational success but also reinforces its strategic focus on sustainable health and safety protocols. As it continues to navigate through 2025, Luca looks forward to translating operational and production excellence into sustained growth and increased shareholder value.