Starcore Reports Q3 2017 Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/17/17 -- Starcore International Mines Ltd. (the "Company") (TSX: SAM) has filed the results for the quarter ended January 31, 2017 for the Company and its mining operations (Bernal) and purchased concentrate operations (Altiplano). 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.
Financial Highlights for quarter ended January 31, 2017:
The following table contains selected highlights from the Company''s unaudited consolidated statement of operations for the three and nine months ended January 31, 2017 and 2016:
Production Highlights for quarter ending January 31, 2017:
The following table is a summary of mine production statistics for the San Martin mine for the three and nine month periods ended January 31, 2017 and for the previous nine month period ended April 30, 2016:
"We achieved some significant milestones this quarter, largely at the expense of production results and reported earnings." reported Robert Eadie, President of the Company. "Firstly, we moved the Altiplano Plant into operational status, thereby reporting its earning as part of Company operations, and achieved a modest positive cash flow from very low production thereby providing confidence that this operation will produce good cash flow under full capacity. Secondly, we completed the construction of the CIL plant at San Martin allowing us to process the higher grade carbonaceous ore from our mine. While we have experienced overall lower recovery and mine production as a result of issues with the initial start up of this plant, we have fully tested the CIL plant using purchased carbon and have proven that it is fully functional and operating as planned".
About Starcore
Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiary, Compania Minera Pena de Bernal, S.A. de C.V., which owns the San Martin mine in Queretaro, Mexico. Through its wholly-owned subsidiary, Altiplano Goldsilver S.A. de C.V, Starcore also owns and operates the Altiplano concentrate processing facility for precious metals in Matehuala, Mexico. Starcore is a public reporting issuer on the Toronto Stock Exchange. Starcore is also engaged in owning, acquiring, exploiting, exploring and evaluating mineral properties, and either joint venturing or developing these properties further. Starcore 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 .
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Gary Arca, Chief Financial Officer and Director
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
Contacts:
GARY ARCA
Telephone: (604) 602-4935
Facsimile: 1-604-602-4936
EVAN EADIE
Investor Relations
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
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Datum: 17.03.2017 - 14:56 Uhr
Sprache: Deutsch
News-ID 1493341
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Mining & Metals
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