Starcore Reports Third Quarter 2015 Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/16/15 -- Starcore International Mines Ltd. (the "Company") (TSX: SAM) has filed the results for the third quarter ended April 30, 2015 for the Company and its mining operations. 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 period ending April 30, 2015
The following table contains selected highlights from the Company's unaudited consolidated statement of operations for the three and nine months ended April 30, 2015 and 2014:
(1) EBITDA ("Earnings before Interest, Taxes, Depreciation and Amortization") is a non-GAAP financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another Corporation. The Corporation uses this non-GAAP measure which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.
(2) EBITDA MARGIN is a measurement of a company's operating profitability calculated as EBITDA divided by total revenue. EBITDA MARGIN is a non-GAAP financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another Corporation. The Corporation uses this non-GAAP measure which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.
Production Highlights for period ending April 30, 2015:
The following table is a summary of mine production statistics for the San Martin mine for the three and nine months ended April 30, 2015 and for the year ended July, 2014:
"Given the complexity of the San Martin mine geological structure, it is not unusual to have fluctuations in ore grades causing the changes in production that we are experiencing. Despite this, the mine management has been excellent at reducing costs below budget and, coupled with the higher US dollar exchange rate, we have been able to continue to produce good cash flow from the mine operations exceeding $1 million for the quarter and $4.5 million over the nine months," reported Robert Eadie, President of the Company.
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. 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 which are exclusively located in North America.
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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Unternehmensinformation / Kurzprofil:
Datum: 16.06.2015 - 13:00 Uhr
Sprache: Deutsch
News-ID 400795
Anzahl Zeichen: 4907
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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