Starcore Reports Q2 Results

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 14/12/2019 06:12
Vancouver, B.C. – Starcore International Mines Ltd.(TSX: SAM) (“Starcore” or the “Company”) has filed the results for the second quarter ended October 31, 2019 for the Company and its mining operations in Queretaro, Mexico. The full version of the Company’s Financial Statements and Management’s Discussion and Analysis can be viewed on the Company’s website at, or SEDAR at All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

“The recent operational efficiency programs are starting to take hold on the operational and administrative level. While we saw a difficult August in production coupled with the severance costs of the employee layoffs, the mine still produced more profitable ounces in last two months of the quarter” reported Robert Eadie, C.E.O. and President of the company. “In addition to this transition, we are pleased with the updated 43-101 that indicates 10+ years of mine reserves and resources and our new technical staff at the mine are focused on developing and exploring our land package for additional gold discoveries.”

Financial Highlights for the three-month period ended October 31, 2019 (unaudited):
Cash and short-term investments on hand is $2.7 million at October 31, 2019;
Gold and silver sales of $5.8 million;
Loss of $1.1 million, or $(0.02) per share;
EBITDA(1) of $(342) for the six month period ended October 31, 2019;

The following table contains selected highlights from the Company’s unaudited consolidated statement of operations for the three and six months ended October 31, 2019 and 2018:
(in thousands of Canadian dollars)
Three Months ende October 31, Six Months ended October 31,
2019 2018 2019 2018
Revenues $ 5,804 $ 8,711 $ 12,193 $ 19,334
Cost of Sales(6,024) (9,092) (12,363) (19,042)
Earnings (Loss) from mining operations and toll processing(220) (381) (170) 292
Administrative expenses, interest and foreign exchange (939) (771) (2,028)(1,836)
Sale of Altiplano (3) - (39) -
Allowance for receivables - (441) - (441)
Impairment of plant and equipment - (5,943) - (5,943)
Disposal of E&E assets - (82) - (82)
Income tax (expense) recovery 100 (508) 344 (497)
Net income (Loss) $ (1,062) $ (8,126) $ (1,893) $ (8,507)

(i) Income (Loss) per share – basic (0.02) (0.16) $ (0.04) $ (0.17)
(ii) Income (Loss) per share – diluted (0.02) (0.16) $ (0.04) $ (0.17)

see &

Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord

Copyrights © 2000 by all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.