October 26, 2023
Luca Mining Corp. (TSXV:LUCA, BUY, C$1.00 target, Taylor Combaluzier) announced that it is on track to achieve its objective of installing capacity to process 1,000 tpd of ore at its 100%-owned Tahuehueto Au mine in Durango state, Mexico by year-end, after hitting a production rate of 500 tpd in Jun/23 (read notable). The company expects to announce 1,000 tpd commercial production in Q1/24 though we conservatively forecast production to reach that level in Q2/24. A second ball mill has been placed on its supporting structure on site and, if commissioned, will bring the mine’s installed milling capacity to 1,250 tpd. Once ancillary equipment for the mill is delivered, testing is expected to commence in late November. Ramp-up is planned to commence shortly after that should the tests be successful. The flotation and concentrate filtration circuits already have an installed capacity of 1,000 tpd. Foundations have been completed for a second tailings filter press, which has a nominal capacity of 500 tpd and is set to be transported to site within a week. A third (back-up) tailings filter press has been secured and is undergoing inspections and refurbishments prior to shipping to site. 56% of the construction of the second stage of the tailings embankment has been completed. We look forward to the achievement of the 1,000 tpd goal as it would be an important catalyst for the stock and warrant a re-rating. Read more
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F3 Uranium Corp. – TSXV:FUU – 1,2,3
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