Luca Mining Achieves 2025 Production Guidance, Debt Position

Luca Mining reported payable production results for 4Q25 and the full year ending Dec. 31, 2025. The company confirmed it produced 26,144oz of gold and 1.3Moz of silver in 2025, both in line with the company’s upper production guidance. 

Luca Mining confirmed that it achieved its revised full-year production guidance and modified its balance sheet. For the full year 2025, production results for the Campo Morado mine in Guerrero demonstrated that the operation met its targets for all reported metals. Payable gold production at the mine reached 5,619oz, falling within the revised guidance range of 5,500oz to 6,500oz. Silver payable production was 736,775oz, which was also within the projected range of 680,000oz to 800,000oz. The mine recorded zinc and copper payable totals of 29,072oz and 7,038oz, respectively, both of which met the revised expectations for the period. 

In Durango, Tahuehueto mining and processing activities resulted in payable gold production of 15,837oz, placing the result within the revised guidance range of 15,500oz to 17,500oz. The mine's silver payable production reached 279,997oz, which exceeded the upper limit of the 219,000oz to 270,000oz range provided in the guidance. Lead and zinc payable production at Tahuehueto reached 3,370oz and 3,808oz, respectively, both aligning with the established guidance ranges. 

On a consolidated basis, Luca Mining achieved its revised production targets for all reported metals during 2025. Total consolidated payable gold reached 21,456oz, falling within the guidance range of 21,000oz to 24,000oz. Consolidated payable silver totaled 1.01Moz, which was within the forecast of 899,000oz to 1.07Moz. Produced metal figures also met or exceeded guidance, with total consolidated gold reaching 26,144oz against a range of 25,500oz to 29,000oz, and silver production reaching 1.3Moz within a range of 1.1Moz to 1.3Moz. Consolidated produced zinc reached 45,212oz, slightly exceeding the upper guidance limit of 45,000oz.

As of Dec. 31, 2025, the company reported a cash position of approximately US$25.5 million, representing an increase from US$15.9 million at the end of 3Q25 and US$10.2 million at the end of 2024. This increase was attributed to free cash flow from operations during 4Q25.

The company also reported a reduction in its total debt. During 2025, the company repaid US$10.1 million, which left an outstanding principal balance of US$2.5 million at the end of the year. The company stated that the remaining balance is expected to be repaid by mid-2026. 

Exploration activities continued through 4Q25 with an investment of US$800,000, completing 5,836m of drilling. For the full year, the company finished 22,855m of drilling at a total cost of US$3.8 million. These activities focused on near-mine and resource expansion targets to manage mine life and production flexibility. “We delivered on our revised production guidance while materially improving our balance sheet through disciplined operations and debt reduction. With a stronger financial position and stable operations across both mines, the company enters 2026 well-positioned to focus on optimization and organic growth,” said Dan Barnholden, CEO, Luca Mining. 

Luca Expands Tahuehueto Land with New Concession

On Sep. 10, 2025, MBN reported that Luca Mining acquired a 100% interest in the Humaya 3 mining concession from Fresnillo’s subsidiary Minera Mexicana La Ciénega. The concession, covering 2,507ha and surrounding Luca Mining’s Tahuehueto mine, was purchased for US$400,000 in cash and carries no underlying NSR royalties.

With this acquisition, Luca Mining expanded its Tahuehueto land package by over 25%, bringing its total holdings to approximately 10,000ha. The company highlights the strategic importance of Humaya 3 for its near-term exploration programs, as it directly adjoins known mineralized veins, including the Santiago vein, which extends onto the newly acquired ground and remains a high-priority drilling target. “Acquiring this strategic mining concession aligns with our growth strategy as we add value to our assets. Luca Mining will continue to demonstrate our ability to increase shareholder value through our commitment to exploration and discovery programs. This ground will play a key role in our near-term exploration strategy at Tahuehueto as we expand our exploration efforts,” Barnholden noted at the time.