Starcore International Mines (TSX:SAM) President & CEO Robert Eadie Interviewed by Jay Taylor on Face the Analyst - Video of Interview Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, February 9, 2012 - Jay Taylor, Editor of J.
Taylor's Gold, Energy & Tech Stocks Report, and Publisher at
www.jaytaylormedia.com, interviews Robert Eadie, President & CEO of
Starcore International Mines (TSX:SAM).
This video is one of Jay Taylor's "Face the Analyst" series of interviews, and
is available for viewing on InvestmentPitch.com. If this link is not enabled,
please visit www.InvestmentPitch.com and enter "Starcore" in the search box.
Currently Starcore operates the San Martin gold and silver mine, which is
located 50 kilometres east of the City of Querétaro in Querétaro State, and
about 250 kilometres northwest of Mexico City. High grade mineralization was
discovered at San Martin in the 18th Century, and is reported to have been mined
over a period of 40 years; however, no production records exist. Between 1900
and 1924, an estimated 250,000 tonnes grading 15 grams per tonne gold and 100
grams per tonne silver was reportedly mined.
On January 31,( )management announced that it had paid off all their bank debt
used to acquire the company's San Martin Mine. The company is still obligated to
sell another 14,513 ounces of gold to its banker at $731 per ounce until January
31, 2013.That amounts to a little more than half of the company's current
production rate of about 20,000 to 22,000 ounces per year. With the company's
cash costs of $621, Starcore was generating a cash margin of just a little over
$100 per ounce on the production it was required to pay back to its banker.
Once the last of the gold hedge is paid, management plans to initiate a dividend
equal to approximately half of its operating cash flow.
Subsequent to the interview, Jay Taylor issued a buy recommendation for
Starcore, stating, "To give you a sense of how much the dividend might be worth,
consider that during the first quarter of this fiscal year, Starcore generated
$7.3 million in mine operating cash flow as measured by earnings before
interest, taxes, depreciation, and amortization (EBITDA). Annualizing that
number would result in an annual cash flow from mine operations of $29.2
million. If management paid out half of that, it would amount to $14.6 million,
or nearly $0.115 per share, on a stock that is currently selling at $0.33.
That's not a bad return on the current stock price!"
For more information, please visit the company's website at www.starcore.com or
phone 604-602-4935.
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bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 09.02.2012 - 23:47 Uhr
Sprache: Deutsch
News-ID 113230
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Kategorie:
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