Weekly Notes (3/11/2026)

Mar 12, 2026

∙ Paid

Luca Mining (3/5/2026: 7.6M at 16 gpt AU at Tahuehueto).

Endeavour Mining (3/5/2026: 2025 results. 1.2M oz at $1450 AISC. $1.1B FCF. Cash balance $450M. Debt $600M. Paid down $500M in debt in 2025. Debt should be gone in 2026. Guidance for 2026. 1.2M oz at $1650 AISC. Current FCF run-rate at $3.1B. Current FCF multiple of 4.7. They are aggressively incre…

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