Highlights

  • LUCA’s revenue surged 102.5% YoY to USD 36.78 million in Q2 2025.
  • Adjusted EBITDA rose 39.2% YoY to USD 5.80 million despite higher expenses.
  • Tahuehueto Gold Project operations remain uninterrupted after PROFEPA’s inspection.
  • Management targets 85,000–100,000 AuEq ounces and USD 30–40 million Free Cash Flow for FY25.

Luca Mining Corporation (TSXV: LUCA) is a Canadian diversified mining company. It owns two fully producing mines in Mexico’s Sierra Madre mineral belt, an area known for its many active and historic mining operations.

In the second quarter of 2025 (Q2 2025), the company reported net revenue of USD 36.78 million, up 102.5% YoY from USD 18.16 million, driven by higher production volumes and improved realized metal prices. Mine operating gain rose sharply to USD 9.07 million from USD 2.67 million, reflecting higher margins supported by cost efficiencies and better ore grades. Adjusted EBITDA for the quarter increased 39.2% YoY to USD 5.80 million, aided by revenue growth despite higher operating expenses. Adjusted net earnings surged to USD 3.27 million from USD 0.02 million, a significant improvement attributed to enhanced profitability and reduced non-cash charges.

Recent Business Update

Luca Mining recently reported that the Tahuehueto Gold project continues to operate normally after a recent inspection by Mexico’s environmental agency, PROFEPA. The routine review did not disrupt mining or processing activities.

Company Outlook

The company anticipates a steady performance in H2 2025, driven by increasing production at Tahuehueto and stable operations at Campo Morado. Annual guidance projects output of 85,000–100,000 gold equivalent ounces and Free Cash Flow between USD 30–40 million. Management expects higher gold and silver prices to support profitability, even with potential moderation in AuEq totals due to conversion factors. The company remains confident in achieving full-year targets, emphasizing ongoing optimization, exploration, and expansion to sustain long-term growth and cash generation.

Top 10 Shareholders

The top 10 shareholders of LUCA together hold ~21.31% of the total shareholding. Calu Opportunity Fund LP and Van Eck Associates Corporation have the maximum stake in the company at ~12.73% and ~2.70%, respectively.

Stock Information

The stock price of LUCA has witnessed a downside of ~1.97% and an upside of ~12.03% over the past month and 6 months, respectively. Moreover, it is trading above the average 52-week high price of CAD 1.92 and 52-week low price of CAD 0.49.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 14 October 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.