Vancouver, B.C. - Starcore International Mines Ltd. (TSX :SAM) (the “Company” or ”Starcore”) has filed the results for the second quarter ended October 31, 2018 for the Company and its mining operations in Queretaro, Mexico and toll processing operations in Matehuala, 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 www.starcore.com, or SEDAR at www.sedar.com. 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 the three-month period ended October 31, 2018 (unaudited):
- Cash and short-term investments on hand is $4.0 million at October 31, 2018;
- Gold and silver sales of $8.7 million;
- Loss of $8.1 million, or $(0.16) per share, which includes a non-cash impairment charge of $5.9 million against the Altiplano concentrate processing facility assets;
- EBITDA(1) of $651;
The following table contains selected highlights from the Company’s unaudited consolidated statement of operations for the three and six months ended October 31, 2018 and 2017:
Production Highlights for the three month period ended October 31, 2018:
- Equivalent gold production of 4,050 ounces;
- Mine operating cash cost of US$1,075/EqOz;
- All-in sustaining costs of US$1,247/EqOz for the six months ended October 31, 2018;
The following table is a summary of mine production statistics for the San Martin mine for the three and six months ended October 31, 2018 and for the previous year ended April 30, 2018:
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
Signed “Gary Arca”
Gary Arca, Chief Financial Officer and Director
Telephone: (604) 602-4935
Telephone: (604) 602-4935 x 205
Toll Free: 1-866-602-4935
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for the adequacy or accuracy of this press release.