Starcore Reports Q1 2017 Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/14/16 -- Starcore International Mines Ltd. (TSX: SAM) (the "Company") has filed the results for the first quarter ended July 31, 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 reported a one-time transitional year-end period for the nine months ended April 30, 2016. This is the first quarter of the 2017 fiscal year.
Financial Highlights for the three-month period ended July 31, 2016 (unaudited) compared to the year ended April 30, 2016 (audited) and three-month period ended July 31, 2015 (unaudited):
The following table contains selected highlights from the Company's unaudited consolidated statement of operations for the quarters ended July 31, 2016 and 2015:
Production Highlights for the three month period ended July 31, 2016 compared to the three month period ended July 31, 2015:
The following table is a summary of mine production statistics for the San Martin mine for the periods ended July 31, 2016 and 2015 and for the previous nine month period ended April 30, 2016:
"We continue to report positive cash flow," said Robert Eadie, President of the Company, "and the improved market for metal prices and our ability to keep costs per ounce low have allowed us to report a profit this quarter despite lower equivalent gold production for the quarter."
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:
Starcore International Mines Ltd.
Gary Arca
(604) 602-4935
1-604-602-4936 (FAX)
Starcore International Mines Ltd.
Evan Eadie
Investor Relations
(416) 640-1936
Toll Free: 1-866-602-4935
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Datum: 14.09.2016 - 20:58 Uhr
Sprache: Deutsch
News-ID 494850
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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