Luca Mining Corp Reduces Debt by 39% with Strategic Debenture Buyback

Altaley Mining Corporation ( (TSE:LUCA) ) has issued an announcement.

Luca Mining Corp has successfully reduced its corporate debt by 39% through strategic financial maneuvers, including the buyback of a US$5.8 million convertible debenture, partially in partnership with Jaluca Limited. This move not only strengthens Luca’s balance sheet by eliminating a substantial debt burden but also reflects its commitment to enhancing shareholder value by reducing shares outstanding and advancing its growth strategy. The company aims to be debt-free by the end of 2025 and is actively expanding its resource base and optimizing operations at its Tahuehueto and Campo Morado mines.

More about Altaley Mining Corporation

Luca Mining Corp is a diversified Canadian mining company operating within the Sierra Madre mineralized belt in Mexico. It has two 100%-owned producing mines that extract gold, copper, zinc, silver, and lead, offering substantial development and resource potential.

YTD Price Performance: 1.72%

Average Trading Volume: 819,713

Technical Sentiment Consensus Rating: Hold

Current Market Cap: C$117.5M

For detailed information about LUCA stock, go to TipRanks’ Stock Analysis page.