My first thesis about Luca Mining Corp. ( LUCMF ) was standing on three quite clear columns. First, it was a transition story. For quite a while it was seen as problematic, but now it has two workingI’m an independent equity trader and licensed financial advisor focused on uncovering high-upside opportunities in overlooked sectors especially focusing on small-caps, energy, commodities, and special situations. My investment strategy is based on growth. I look for fundamental momentum (EPS, ROE, revenue), pri ...

Shares of Luca Mining Corp., traded on the US OTCQX, are benefiting from market optimism, which is driving share price gains. This is correct posture in our opinion. We believe this willAlberto holds a Master's degree in Business Economics. During his academic career he acquired an extensive managerial and economic background, with a solid quantitative basis. He covers all sectors and the different types of stocks. Essentially describes a useful investment strategy that fits the profile of any investor, whe ...

Company Overview - Luca Mining Corp. has been recognized in the 2026 OTCQX Best 50, highlighting its strong performance in the previous year [1] - The company operates two 100%-owned producing mines in Mexico, focusing on gold, copper, zinc, silver, and lead production [3] Mining Operations - The Campo Morado mine is an underground operation in Guerrero State, producing copper-zinc-lead concentrates and undergoing an optimization program to enhance recoveries and cash flows [4] - The Tahuehueto Mine, located in Durango State, is a newly constructed underground operation primarily producing gold and silver, with successful commissioning of its mill and now in commercial production [5] Market Position - The OTCQX Best Market is designed for established, investor-focused companies, requiring high financial standards and compliance with securities laws for qualification [2] - The ranking of the OTCQX Best 50 is based on total return and average daily dollar volume growth, reflecting the company's strong market performance [1]

Core Viewpoint - Luca Mining Corp. achieved its revised full-year 2025 production guidance while significantly strengthening its balance sheet throughout the year [1][6]. Financial Performance - As of December 31, 2025, Luca's cash position increased to approximately $25.5 million, up from $15.9 million at the end of Q3 2025 and $10.2 million at the end of 2024, driven by free cash flow from operations [2]. - The company repaid $10.1 million of debt during 2025, reducing the outstanding principal to $2.5 million at year-end, with expectations to fully repay the remaining balance by mid-2026 [2]. Production Results - For the full calendar year 2025, Luca's total payable production met or exceeded revised guidance for gold, silver, zinc, copper, and lead across its two operating mines in Mexico [3]. - Detailed production results include: - Campo Morado: Gold 5,619 ounces (guidance 5,500 – 6,500), Silver 736,775 ounces (guidance 680,000 – 800,000), Zinc 29,072 tonnes (guidance 28,000 – 32,000), Copper 7,038 tonnes (guidance 7,000 – 8,000) [4]. - Tahuehueto: Gold 15,837 ounces (guidance 15,500 – 17,500), Silver 279,997 ounces (guidance 219,000 – 270,000), Lead 3,370 tonnes (guidance 3,000 – 4,000), Zinc 3,808 tonnes (guidance 3,500 – 4,200) [4]. - Consolidated results: Gold 21,456 ounces (guidance 21,000 – 24,000), Silver 1,016,772 ounces (guidance 899,000 – 1,070,000), Zinc 32,880 tonnes (guidance 31,500 - 36,200), Copper 7,038 tonnes (guidance 7,000 – 8,000) [4]. Exploration Activities - In Q4 2025, the company invested approximately $0.8 million in exploration, completing about 5,836 meters of drilling [5]. - For the full year, exploration drilling totaled approximately 22,855 meters at a total cost of around $3.8 million, focusing on near-mine and resource expansion targets [5]. Management Commentary - The CEO highlighted 2025 as a pivotal year for execution, emphasizing the achievement of production guidance and balance sheet improvement through disciplined operations and debt reduction [6].

Core Insights - Luca Mining Corp reported strong year-over-year growth in Q3 2025, with significant increases in production and revenue, alongside strategic investments in development and exploration [1][3]. Financial Performance - The company generated a net free cash flow of $5.3 million in the first nine months of 2025, despite heavy investments in development and exploration [1][3]. - Revenue for Q3 2025 reached $35.0 million, a 94% increase compared to the prior year, driven by higher sales volumes and increased precious metal prices (gold +28%, silver +18%) [2][3]. Production Highlights - Consolidated tonnes milled increased to 250,807, a 66% rise from the previous year, resulting in substantial production increases: Gold up 51%, Silver up 97%, Zinc up 78%, Lead up 81%, and Copper up 43% [2][3]. - Campo Morado produced approximately 30.2 million zinc-equivalent pounds, a 75% year-over-year increase, with cash costs decreasing to $1.09 per payable ZnEq pound, a 14% reduction [5][6]. - Tahuehueto achieved a record of 969 tonnes milled per day, a 187% increase year-over-year, with gold-equivalent production rising 74% [9][10]. Operational Improvements - The company emphasized safe operations and improved throughput, with both mines operating above budget [2][3]. - Sustaining capital investment for Q3 was $8.7 million, aimed at enhancing underground development and exploration drilling [2][3]. Exploration Initiatives - Luca Mining is committed to a three-year, $25 million exploration program to unlock new gold resources at both Campo Morado and Tahuehueto [3][24]. - High-grade drill results were reported from the Reforma deposit at Campo Morado, indicating strong resource potential [8]. Future Outlook - The company anticipates entering higher-grade areas in both mines, which is expected to drive increased production and improved recoveries [15]. - Revised production guidance for 2025 reflects lower-than-expected output due to mining through lower-grade zones, but copper, silver, and lead production are tracking within or above original guidance [14][17].

Core Insights - Luca Mining Corp reported significant year-over-year growth in production and revenue for Q3 2025, with a positive net free cash flow of $5.3 million for the first nine months of the year, despite heavy investments in development and exploration [1][2][4] Financial Performance - Revenue for Q3 2025 reached $35.0 million, reflecting a 94% increase compared to the prior year, driven by higher sales volumes and increased precious metal prices (gold +28%, silver +18%) [3][4] - Adjusted EBITDA for the quarter was $4.3 million, with year-to-date adjusted net earnings of $12.8 million, indicating improved operational performance [3][4] Production Highlights - Consolidated tonnes milled increased to 250,807, a 66% rise from the previous year, with notable production increases in gold (51%), silver (97%), zinc (78%), lead (81%), and copper (43%) [3][4] - Campo Morado produced approximately 30.2 million zinc-equivalent pounds, a 75% year-over-year increase, with cash costs decreasing to $1.09 per payable ZnEq pound, a 14% reduction [6][7] - Tahuehueto achieved a record of 969 tonnes milled per day, with total gold-equivalent production up 74% year-over-year [10][12] Development and Exploration - The company invested $8.7 million in sustaining capital during the quarter, totaling $19.0 million year-to-date, to enhance underground development and exploration drilling [3][4] - A major three-year exploration program worth $25 million has been committed, aimed at unlocking new gold resources at both Campo Morado and Tahuehueto [4][18] Future Outlook - The company anticipates entering higher-grade areas in both mines, which is expected to drive increased production, improved recoveries, and lower unit costs through year-end [16][18] - Full-year net free cash flow is now expected to be between $5 million and $10 million, revised down from initial estimates due to additional capital investments and lower-than-expected output [18]

Core Viewpoint - Luca Mining Corp. has announced a comprehensive three-year exploration program with a budget of US$25 million aimed at unlocking high-grade gold potential across its Campo Morado and Tahuehueto mining operations in Mexico [1][6]. Program Overview - The exploration program includes over 80,000 metres of surface and underground diamond drilling to support future production growth, covering more than 220 square kilometres of highly prospective concessions [3][6]. - The program will utilize AI-assisted target-generation technology from VRIFY to analyze extensive geological datasets, including over 650,000 metres of historical drilling [4][6]. Program Focus and Targets - Drilling will focus on high-grade gold mineralization at both mines, with 38 priority targets identified, including a new high-grade gold zone at Reforma Deeps [5][6][7]. - The 2026 budget allocates US$6.5 million for 20,000 metres of drilling, with an additional US$18.5 million planned for 2027-2028 for 60,000 metres [6]. Recent Exploration Successes - Recent drilling results include significant intersections at Campo Morado, such as 37.2 metres of 5.9 g/t Au and 368 g/t Ag, and at Tahuehueto, with 14.0 metres of 6.7 g/t Au [7][8]. - The exploration will also target extensions of the Crestón, Perdido, and Santiago structures, focusing on undrilled gravity anomalies [7][8]. Company Background - Luca Mining Corp. operates two 100%-owned producing mines in the Sierra Madre mineralized belt in Mexico, producing gold, copper, zinc, silver, and lead [9]. - The Campo Morado mine is an underground operation producing copper-zinc-lead concentrates, while the Tahuehueto mine is a newly constructed underground operation primarily producing gold and silver [10][11].

Core Insights - Luca Mining Corp. has reported positive analytical results from surface and underground drilling at the Reforma deposit and Campo Morado mine, indicating strong mineralization and expansion potential [1][2][6] Surface Drill Program - The surface drilling at the Reforma deposit has confirmed the size, tenor, and grade of precious and base metals, with results exceeding geological model predictions [2][4] - A total of 4,060 meters of surface drilling has been completed at the Reforma deposit, with the program now shifting to the El Rey deposit [4] - The ongoing program aims to confirm and expand existing mineral resources and collect material for metallurgical testing to enhance precious metals recoveries [2][3] Underground Drill Program - High-grade gold and silver intercepts have been identified from the Reforma deposit, with significant intervals of massive sulphide mineralization reported [6][7] - The underground drilling program has been expanded by 50%, totaling 7,500 meters for 2025, focusing on defining mineable resources near existing workings [6][8] - Notable results include drillhole CMRF-25-10, which intercepted 13.0 meters of 11.4 g/t AuEq, and CMRF-25-11, which intercepted 24.6 meters of 6.0 g/t AuEq [6][10] Exploration Targets - Luca Mining has identified 38 priority exploration targets near the Reforma and El Rey deposits, which have never been drill tested [3] - The exploration strategy is based on favorable geological, geochemical, and geophysical interpretations from historical data [3] Financial and Operational Expansion - Based on strong drilling results, the surface drill program at Campo Morado has been increased by 120%, with a total budget of 5,500 meters for 2025 [6] - The company is in a transformative period, unlocking the gold-rich VMS potential of the Campo Morado property [9]

Core Points - Luca Mining Corp. confirms normal operations at its Tahuehueto Gold Project following an inspection by Mexico's environmental authority, PROFEPA [1][2] - The inspection reviewed compliance with the Environmental Impact Authorization (MIA) issued by SEMARNAT, focusing on a small inactive area previously used for tailings storage [2][3] - PROFEPA issued a temporary closure notice for the inactive area pending updated technical documentation, which does not affect ongoing mining or processing operations [3] Company Operations - The temporary notice applies to a non-operational section of 0.3 hectares and does not impact current production at the Tahuehueto and Campo Morado mines [3] - Luca Mining emphasizes environmental compliance and transparency as central to its operations, and it is working constructively with PROFEPA and SEMARNAT [3] - The company continues to advance production, optimization, and sustainability initiatives at both mining sites [3]

Dan Barnholden, Chief Executive Officer For more information, please visit: www.lucamining.com Cautionary Note Regarding Forward-Looking Statements It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater ...