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On September 21, 2026, Luca Mining Corp. (TSXV:LUCA; OTCQX:LUCMF; FSE:Z68) (“Luca”) announced it has entered into a definitive agreement to acquire 100% of the Cozamin Mine, a producing underground copper-silver-zinc mine in Zacatecas, Mexico, from Capstone Copper Corp. (TSX:CS; NYSE:CS) (“Capstone”). The transaction values Cozamin at total consideration of up to US$385 million and is expected to more than double Luca’s 2027 production and cash flow, creating a leading Mexican polymetallic producer.
Upfront consideration of US$290 million comprises US$275 million in cash at closing and US$15 million in Luca shares issued to Capstone. Deferred and contingent payments of up to US$95 million include US$35 million due on the first anniversary, payable in cash or shares at Luca’s election, plus up to US$60 million in copper price-linked payments.
Luca owns two producing mines and recently entered into a definitive agreement to acquire the El Barqueño project in Mexico. The addition of Cozamin will extend Luca’s footprint to three polymetallic producing mines in the country.
Fort Capital Partners is acting as financial advisor to Luca.