Luca Mining Hits 500 TPD Milestone at Tahuehueto Gold Project, and Successfully Closes Over-Subscribed Private Placement at CAD$24.9 million
https://www.prnewswire.com/new…-9-million-301865349.html
VANCOUVER, BC, June 28, 2023 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: TSGA) is thrilled to announce two significant milestones. Firstly, the Tahuehueto Gold Project in Durango, Mexico, has achieved a major milestone with a production capacity of 500 tonnes per day ("tpd"), on time and budget. Secondly, Luca has successfully closed an oversubscribed non-brokered private placement (the "Private Placement"), for a total of CAD$24,896,551.42 (see the Company's news release dated March 31, 2023).
Highlights
[Blockierte Grafik: https://mma.prnewswire.com/media/2142619/Luca_Mining_Corp__Luca_Mining_Hits_500_TPD_Milestone_at_Tahuehue.jpg?w=400]Aerial view of tailings dam construction at Tahuehueto (CNW Group/Luca Mining Corp.)[Blockierte Grafik: https://mma.prnewswire.com/media/2142620/Luca_Mining_Corp__Luca_Mining_Hits_500_TPD_Milestone_at_Tahuehue.jpg?w=400]
Underground development at the Tahuehueto Mine (CNW Group/Luca Mining Corp.)
- Tahuehueto Gold Project achieves 500 tpd production milestone, on schedule and budget
- Funded to achieve commercial production of 1,000 tpd, scheduled for year-end 2023
Mike Struthers, CEO, commented, "We are delighted to have accomplished our goal of reaching 500 tpd at Tahuehueto. This achievement is a testament to the dedication and collaborative efforts of our site teams, contractors, management, and staff. But our focus on delivering Tahuehueto for all our stakeholders continues, as we push towards the ultimate goal of commercial production at 1,000 tpd by year-end. This underpins our strategy of operating two profitable mines and laying a solid foundation for growth, ultimately leading to an exceptional performance in 2024."
"In addition to this significant operational milestone, Luca is proud to announce the successful completion of its funding round, raising an impressive CAD$24.9 million. This accomplishment, particularly under current market conditions, is the result of tremendous efforts by our core team and key stakeholders."
"These significant accomplishments underline the trust and confidence investors have placed in the Company, our new team, and our ambitions for growth. The strong support received from new and existing shareholders is a testament to the dedication of the Luca Mining team."