Trooperstocks
4 years ago
News: Starcore Announces 2nd Quarter Production Results
Newsfile Corp.
Mon, November 16, 2020, 10:30 AM EST·2 min read
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2020) - Starcore International Mines Ltd. (TSX: SAM) (OTCQB: SHVLF) ("Starcore" or the "Company") announces production results for the second quarter of fiscal year 2020 / 2021, ended October 31, 2020, at its San Martin Mine ("San Martin") in Queretaro, Mexico.
"In spite of the devastating pandemic which has hit Mexico very hard, our operations are ongoing without major issues. This is mainly due to the discipline of our work force, our management team's commitment to the health of our workers and the respect for the rules and measures taken by the Mexican Government," reported Salvador Garcia, Chief Operating Officer of the company. "Even though the grades during the quarter decreased, the ounces produced have been delivering a good margin of profit for reasons beyond just the higher gold and silver prices. The measures adopted in the last year in our operations and the cost optimization in all areas, including administration, have resulted in financial improvements reflected in more resources to increase the exploration in unexplored areas by development and drilling, creating good expectations in the short term."
San Martin Production
Q2 2020
Q1 2019
Q/Q Change
YTD 2020
YTD 2019
Y/Y Change
Ore Milled (Tonnes)
56,731
59,099
-4%
115,830
114,918
-1%
Gold Equivalent Ounces
2,867
3,259
-12%
6,126
6,762
-9%
Gold Grade (Grams/Ton)
1.60
1.70
-6%
1.65
1.90
-13%
Silver Grade (Grams/Ton)
21.98
29.17
-25%
25.65
32.25
-23%
Gold Recovery (%)
88.50
88.74
-0.3%
88.63
86.04
3%
Silver Recovery (%)
56.99
56.53
1%
56.72
55.40
2%
Gold: Silver Ratio
75.05
97.22
86.64
87.10
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. This base of producing assets is complemented by exploration and development projects throughout North America. The company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed "Robert Eadie"
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
EVAN EADIE
Investor Relations
Telephone: (604) 602-4935 x 230
Toll Free: 1-866-602-4935
Email: eeadie@starcore.com
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this press release.
Trooperstocks
4 years ago
Starcore International Mines is a precious metals producer, developer and explorer based in Mexico listed on the TSX, OTC $SHVLF and Frankfurt stock exchanges.
Our value proposition combines three essential components with depth rarely seen for a junior miner:
*Proven Management Team including Salvador Garcia who was previously with First Majestic, Gold Corp, and Grupo Mexico.
*Leverage to the gold price and cashflow through a producing mine located in a safe jurisdiction in Mexico. (Q1 earnings $0.03 per share)
*Optionality Upside created through assets for sale, exploration and advanced stage exploration.
Troy--
9 years ago
Starcore up 22% on great news today!
May 11, 2016
Starcore Drills 10.25 metres of 65.17 g/t Au and 128.26 g/t Ag
Vancouver, B.C. – Starcore International Mines Ltd. (the “Company”) announces that it has completed drill hole 31-79 in area 31 at its San Martin Mine in Queretaro, Mexico. This hole intercepted a zone of limestone breccia followed by manto mineralization. High grade manto mineralization with visible gold was recovered between 48.65 and 58.9 meters. The weighted average grade of this 10.25 meter wide intercept is 65.17 g/t gold with 128.26 g/t silver. Prior to the high grade intercept the limestone breccia contained elevated silver values over 10 meters including a 2 meter section grading 1.60 g/t Au and 105 g/t Ag between 42.25 and 44.25 meters.
The intercept is within 15 meters of existing workings. Mining crews are expected to arrive at this drill hole intercept some time this week in order to evaluate the dimensions of the mineralization.
Drill core is assayed on site in a laboratory that successfully reconciles doré and plant samples. Assay values within the intercept have not been cut. Within this intersection, 7 of the 13 samples graded over 25 grams per tonne gold and numerous pieces of core were seen to contain visible gold. The manto mineralization at San Martin has produced samples of this grade in the past.
“This is the best drill hole in our history at the mine”, said Robert Eadie, President and CEO of Starcore.
The Company also reports production results at the San Martin Mine for the fiscal 2016 third quarter, ending April 30, 2016.
During Q3, a total of 74,070 tonnes were milled at an average grade of 1.66 g/t gold and 13 g/t silver resulting in the production of 3,476 gold equivalent ounces. Mill recoveries averaged 83.5% for gold and 46.9% for silver. Equivalent gold ounce calculation is based on the average gold:silver ratio of 79:1 during the quarter.
The depletion of the 6-101 stope in January of 2016 resulted in difficulties in February meeting production targets; however, the development of the 6-112 stope has enabled the mine to return to profitability during March and April.
David Gunning, P.Eng., a director of the Company and Chief Operating Officer, is the Company’s qualified person on the project as required under NI 43-101and has prepared the technical information contained in this press release.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed “Robert Eadie”
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
EVAN EADIE
Investor Relations
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy
or accuracy of this press release.
the cork
9 years ago
SHVLF Starcore International Mines (.60) Extracting and processing gold and silver through its wholly-owned subsidiary, Compañia Minera Peña de Bernal, S.A., which owns the San Martin mine in Queretaro, Mexico (just north of Mexico City).
Starcore Reports Year End 2015 Results http://www.starcore.com/news/news-releases/starcore-reports-year-end-2015-results
Production of Gold - 18,300 ounces
Production of Silver - 97,100 ounces
Website: http://www.starcore.com/s/Home.asp
TSX as SAM: http://web.tmxmoney.com/quote.php?qm_symbol=sam
Pinksheets: http://www.otcmarkets.com/stock/SHVLF/quote
IHUB: http://investorshub.advfn.com/Starcore-International-Mines-LTD-TSX-SAM-19222/?source=board
chart]stockcharts.com/c-sc/sc?s=SAM.TO&p=D&b=5&g=0&i=p95024287910&r=1424837891973[/chart]
xxx
TRAPPER JIM
9 years ago
The company is working to correct the problem.
February 5, 2016
http://www.starcore.com/news/news-releases/starcore-status-with-the-sec
Starcore Status with the SEC
Vancouver, B.C. - Further to its news release of December 22, 2015, Starcore International Mines Ltd. (TSX:SAM) (the “Company” or “Starcore”) wishes to clarify that, on August 31, 2004, the Company (then known as Starcore International Ventures Ltd.) had filed a registration statement with the Securities and Exchange Commission (the “SEC”) on Form 20-F under the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”), to register its common stock. As a result, the Company became subject to filing requirements under the Exchange Act when the registration statement became effective on October 30, 2004.
On February 1, 2016, with the consent of the Company, the SEC issued an order revoking the registration of the Company’s common stock pursuant to the Exchange Act. The Company consented to this administrative procedure as an amenable solution to address the issues cited in the SEC order.
The Company is working diligently to file a new 20-F registration statement so that trading resumes in the United States markets. The Company’s common stock continues to trade publicly in Canada on the TSX under the symbol “SAM”.
For further inquiries, please contact Investor Relations with details listed below.
About Starcore
Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiary, Compañia Minera Peña de Bernal, S.A. de C.V., which owns the San Martin mine in Queretaro, Mexico. The Company is a public reporting issuer on the Toronto Stock Exchange. The Company is also engaged in owning, acquiring, exploiting, exploring and evaluating mineral properties, and either joint venturing or developing these properties further. The Company has interests in properties located in Mexico, Canada and the United States. For more information concerning Starcore, see documents filed under its profile on SEDAR, or visit its website at www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed “Robert Eadie”
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE:
Telephone: (416) 640-1936
EVAN EADIE
Investor Relations
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
Troy--
10 years ago
Starcore Produces 5,130 Equivalent Gold Ounces In Fiscal Q2
Vancouver, B.C. -- Starcore International Mines Ltd. (the "Company") announces production results for the fiscal 2015 second quarter, ending January 31, 2015, at its San Martin Mine in Queretaro, Mexico.
During Q2, a total of 79,815 tonnes were milled at an average grade of 2.22 g/t gold and 19 g/t silver resulting in the production of 5,130 gold equivalent ounces. Mill recoveries averaged 84.5% for gold and 48.2% for silver. Equivalent gold ounce calculation is based on the average gold:silver ratio of 73.62:1 during the quarter. Grades and recoveries continue to conform with those predicted in reserve estimates.
David Gunning, P.Eng., a director of the Company and Chief Operating Officer, is the Company's qualified person on the project as required under NI 43-101and has prepared the technical information contained in this press release.
About Starcore
Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiary, Compañia Minera Peña de Bernal, S.A. de C.V., which owns the San Martin mine in Queretaro, Mexico. The Company is a public reporting issuer on the Toronto Stock Exchange. The Company is also engaged in owning, acquiring, exploiting, exploring and evaluating mineral properties, and either joint venturing or developing these properties further. The Company has interests in properties located in Mexico, Canada and the United States.
More information on Starcore is available at www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed "Robert Eadie"
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE:
Telephone: (416) 640-1936
EVAN EADIE
Investor Relations
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
Neither the Toronto Stock Exchange nor its Regulation Services Provider (accepts responsibility for the adequacy or accuracy of this release.
Troy--
10 years ago
Starcore Acquires Creston Moly from Bankruptcy Trustee
Vancouver, B.C. – Starcore International Mines Ltd. (the "Company") announces that it has entered into an agreement to acquire all of the shares of Creston Moly Corp. ("Creston" or "Creston Moly") from Deloitte Restructuring Inc, in its capacity as trustee in bankruptcy of Mercator Minerals Ltd. (the "Trustee"), at a purchase price of Cdn$2 million (the "Transaction").
The Transaction is subject to Creston being discharged from bankruptcy, clearing the way for Starcore to complete the Transaction and to continue with the development and further exploration of Creston's properties, free and clear from Creston's liabilities as at the date of bankruptcy. Creston Moly is a British Columbia company that owns, through its subsidiaries, a 100% interest in three molybdenum-copper projects in Mexico, British Columbia and Newfoundland.
For full story: http://www.starcore.com/s/news-releases.asp?ReportID=692167
Troy--
10 years ago
Starcore Acquires Creston Moly from Bankruptcy Trustee
Vancouver, B.C. – Starcore International Mines Ltd. (the "Company") announces that it has entered into an agreement to acquire all of the shares of Creston Moly Corp. ("Creston" or "Creston Moly") from Deloitte Restructuring Inc, in its capacity as trustee in bankruptcy of Mercator Minerals Ltd. (the "Trustee"), at a purchase price of Cdn$2 million (the "Transaction").
The Transaction is subject to Creston being discharged from bankruptcy, clearing the way for Starcore to complete the Transaction and to continue with the development and further exploration of Creston's properties, free and clear from Creston's liabilities as at the date of bankruptcy. Creston Moly is a British Columbia company that owns, through its subsidiaries, a 100% interest in three molybdenum-copper projects in Mexico, British Columbia and Newfoundland.
For full story: http://www.starcore.com/s/news-releases.asp?ReportID=692167
KaiserSoze
10 years ago
Thanks for the update Troy, but just as I suspected, no clear answer on buyback! I asked the same and got the same response. I didn't ask to know exactly what day they plan to buy back, but the share price is down 60% since they announced a dividend. You would think that now is just about as good a time to buy back, but I guess not. And as for his comment about the gold sector being flat, lol!!! All gold stocks have been flying high for the last 2 weeks and only SAM is flat.
Time to put your money where your mouth is management!
KaiserSoze
10 years ago
IR knows nothing or is not saying anything of value. A couple of weeks ago, I asked IR why the company was not buying back shares at these ridiculous levels (market cap of $17mm) and the answer was "we don't know and we are just as frustrated as our investors with the share price".
Conclusion: Total BS!!! If they are frustrated with the share price, they should take action and buy back shares (as per their announcement). This would surely bring the price back up. So my question is...are they full of sh**...or do they have no money to buy back shares? I'm down 60% on this stock. Fundamentals are there (profitability, dividend...), so something doesn't add up. My gut tells me to take my losses and walk away because I smell scam, but yet I choose to wait and put my faith in management delivering on the share buyback.
KaiserSoze
10 years ago
My average is in the low 20s, and I'm also not pleased with this freefall, 1 cent at a time.
All fundamentals look positive (profitable, dividend, share buyback...), yet here we are tanking on a consistent basis.
Current market cap is $15mm, which is peanuts, and yet the company is not buying back shares. Trust me, if they were buying, we would know! First of all, insider buying has to be reported. Second, we would know, because demand would exceed supply which would drive price up.
It's very simple: the company is not buying shares back even at this level ($15mm market cap). So my question is, WHY???
KaiserSoze
10 years ago
Are we going to $0??? Spoke with IR yesterday. Eadie apologized for the share price. When I asked him why the company was not buying shares yet, he had no answer. That is clearly not good!!!
The market cap is $15mm, which is ridiculously low. 10% dividend, cash flow positive and promisses of buying back $1mm worth of shares.
Something simply doesn't add up here. We are either being scammed, or this is the best bargain out there!
My gust tells me we are being scammed, but I have no proof. WHY IS THE COMPANY NOT BUYING BACK SHARES AT $0.12????
No explanation = no good.
Troy--
10 years ago
American Consolidated Shareholders Approve Plan of Arrangement
November 20, 2014, Vancouver, B.C. -- Starcore International Mines Ltd. (TSX: SAM) ("Starcore") and American Consolidated Minerals Corp. (TSX-V: AJC) ("American Consolidated" or the "Company") are pleased to announce that the American Consolidated shareholders have approved the previously announced proposed acquisition of American Consolidated by Starcore, pursuant to a plan of arrangement (the "Transaction").
The Transaction was approved by American Consolidated's shareholders at the Company's Special Meeting (the "Meeting") held on November 20, 2014. At the Meeting 4,509,614 votes were cast in connection with the special resolution approving the Transaction with 4,483,714 votes cast for the motion (99.43%) and with 25,900 votes cast against the motion (0.57%).
The Transaction is expected to be completed on or about December 1, 2014 upon the satisfaction or waiver of all of the conditions set out in the arrangement agreement (the "Arrangement Agreement") entered into by American Consolidated and Starcore on October 1, 2014, including approval by the Supreme Court of British Columbia at a hearing scheduled for December 1, 2014. Upon completion of the Transaction, Starcore will acquire all of the outstanding common shares of American Consolidated through the issuance of one-third of a Starcore common share in exchange for each American Consolidated common share. Following completion of the Transaction, American Consolidated will be de-listed from the TSX Venture Exchange.
Full details of the terms of the Transaction are set out in American Consolidated's management information circular dated October 14, 2014, which is available on SEDAR at www.sedar.com. Additional information about American Consolidated is available on its website at www.americanconsolidatedminerals.com.
Neither the Toronto Stock Exchange nor the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
For further information contact:
Gary Arca
Interim President & CEO
American Consolidated Minerals Corp.
Phone: 604-602-4935
Investor Relations
Starcore International Mines Ltd.
Evan Eadie
Phone: 416-640-1936
Troy--
10 years ago
Starcore Posts First Quarter Production Results
Nov 19, 2014
Starcore Posts First Quarter Production Results
Vancouver, B.C. - Starcore International Mines Ltd. (the "Company") announces production results for the fiscal 2015 first quarter, ending October 31, 2014, at its San Martin Mine in Queretaro, Mexico. Production for the first fiscal quarter at the San Martin mine was 5,381 gold equivalent ounces using the realized gold:silver ratio of 67.6:1.
During Q1, a total of 78,635 tonnes were milled at an average grade of 2.36 g/t gold and 18 g/t silver resulting in the production of 4,998 gold ounces and 25,900 silver ounces.
Mill recoveries during the quarter averaged 83.9% for gold and 56.2% for silver.
"While we experienced lower than expected ore grade and recoveries in this last quarter, we fully expect to meet our annual projections for 2014," said Robert Eadie, President of the Company. "We are continually exploring new areas underground that we are confident will benefit our production. Starcore maintains its strong cash position, and San Martin not only has excellent exploration potential, but it is also a mine that has continued to deliver consistent production year in and year out."
David Gunning, P.Eng., a director of the Company and Chief Operating Officer, is the Company's qualified person on the project as required under NI 43-101and has prepared the technical information contained in this press release.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed "Robert Eadie"
Robert Eadie, Executive Chairman, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations
Evan Eadie
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
KaiserSoze
10 years ago
Troy, thanks for the update. Their actions will speak shortly. If they truly believe the stock is undervalued (which I agree by the way), and they have the excess cash at hand, then I guess it becomes a no brainer for them to buy back shares at this level, which will slowly bring the price up. I must say, I am skeptical!
Meal deals are very rare and the market usually gets it right. Is there more to the story than we know (i.e. reserves are done)?
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