Starcore Reports Year End 2016 Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/29/16 -- Starcore International Mines Ltd. (TSX: SAM) (the "Company") has filed the results for the adjusted year end dated April 30, 2016 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.
On May 13, 2016, the Company changed its fiscal year end from July 31 to April 30. With this year-end change, the Company will report a one-time transitional period for the nine months ended April 30, 2016.
Financial Highlights for the period ending April 30, 2016 (audited) compared to the year ended July 31, 2015 (audited) and period ended April 30, 2015 (unaudited):
The following table contains selected highlights from the Company's audited consolidated statement of operations for the periods ended April 30 2016 and 2015:
Production Highlights for the period ending April 30, 2016 compared to the year ended July 31, 2015 and period ended April 30, 2015:
The following table is a summary of mine production statistics for the San Martin mine for nine months ended April 30, 2016 and 2015 and the year ended July 31, 2015:
"Despite some production issues in the past few months, we have consistently maintained a positive cash flow. This has allowed us to explore for and find additional higher grade zones at the mine, as we recently reported, as well as to commence an aggressive drill program on our Toiyabe project located in Nevada. With the ramp up of our Altiplano processing facility, we are fully active in exploration, mining and industrial milling of concentrates, covering all facets of mining activity." reported Robert Eadie, President of the Company.
About Starcore
Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiaries, Compania Minera Pena de Bernal, S.A. de C.V., which owns the San Martin mine in Queretaro, Mexico, and Altiplano Gold Silver, S.A. de C.V., which operates the newly commissioned Altiplano Concentrate Processing Plant located in Matehuala, 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:
Starcore International Mines Ltd.
Gary Arca
Chief Financial Officer and Director
(604) 602-4935
(604) 602-4936 (FAX)
Starcore International Mines Ltd.
Evan Eadie
Investor Relations
(416) 640-1936
Toll Free: 1-866-602-4935
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Datum: 29.07.2016 - 20:01 Uhr
Sprache: Deutsch
News-ID 486365
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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