Starcore Reports Q1 2018 Results
(firmenpresse) - Starcore Reports Q1 2018 Results
Vancouver, B.C. - Starcore International Mines Ltd. (the Company) has filed the results for the first quarter ended July 31, 2017 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 July 31, 2017 (unaudited):
- Cash and short-term investments on hand is $7.4 million at July 31, 2017;
- Gold and silver sales of $8.1 million;
- Loss of $0.3 million, or $(0.01) per share;
- EBITDA(1) of $443;
The following table contains selected highlights from the Companys unaudited consolidated statement of operations for the quarters ended July 31, 2017 and 2016:
(in thousands of Canadian Quarter ended
dollars July 31,
)
(unaudited)
2017 20
16
Revenues $-8,095$-7,188
Cost of Sales -(8,474-(6,040
) )
Earnings (loss) from mining -(379) -1,148
and toll processing
operations
Administrative Expenses-- - - (600-(857)
Income tax recovery )
(expense)
195
685
Net income $ $
(
294)
486
(i) Income (loss) $ $
per share - (
basic 0.01)- 0.01-
(ii) Income (loss) $ $
per share - (
diluted 0.01)- 0.01-
Reconciliation of Net income to EBITDA(1)
For the three months ended July 31, 2017 2016
Net income $-(294) $-486
Income tax recovery -(685) -(195)
Interest -26 -212
Depreciation and depletion -1,396 -1,361
EBITDA $-443 $-1,864
EBITDA MARGIN(2)
5.5 25.9
% %
(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 Corporations market share price.
(2)-EBITDA MARGIN is a measurement of a companys 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 Corporations market share price.
Production Highlights for the three month period ended July 31, 2017:
- Equivalent gold production of 3,888 ounces;
- Mine operating cash cost of US$1,052/EqOz;
- All-in sustaining costs of US$1,244/EqOz;
The following table is a summary of mine production statistics for the San Martin mine for the periods ended July 31, 2017 and 2016 and for the previous year ended April 30, 2017:
Actual Results for
Unit of 3 months3 months12 months
measure ended ended ended
July 31,July 31,April 30,
201 201 201
7 6 7
Mine Production of thousand 3.7 4.0 14.2
Gold in ounces
Dore
Minie Production of thousand 15.2 15.8 66.1
Silver in ounces
Dore
Gold equivalent ounces thousand 3.9 4.2 15.2
ounces
Silver to Gold 74.9 71.6 70.2
equivalency
ratio
Mine Gold grade grams/tonn1.97 2.17 1.97
e
Mine Silver grade grams/tonn12.6 16.2 16.1
e
Mine Gold recovery percent 85.0% 86.6% 81.5%
Mine Silver recovery percent 51.2% 46.0% 46.5%
Milled thousands 69.8 66.1 275.1
of
tonnes
Mine operating cash US dollars59 54 53
cost per
tonne milled
Mine operating cash US dollars1,052 853 969
cost per equivalent
ounce
We are focused on production and additions to management will assist in restoring production to normal levels, 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, Compañia Minera Peña 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.
Signed Gary Arca-----
Gary Arca, Chief Financial Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
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
Suite 750 - 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6
Suite 904 - 85 Richmond Street West, Toronto Ontario M5H 2C9
Telephone: (604) 602-4935 Fax: (604) 602-4936 e-mail. info(at)starcore.com website: www.starcore.com
The Toronto Stock Exchange has not reviewed nor does it accept responsibility
for the adequacy or accuracy of this press release.
Leseranfragen:
Starcore konzentriert sich auf die Exploration, Gewinnung und Verarbeitung von Gold- und Silbervorkommen. Das Unternehmen besitzt, erwirbt, fördert, exploriert und bewertet Rohstoffprojekte. Die weitere Bearbeitung dieser Projekte erfolgt entweder über Joint Ventures oder durch das Unternehmen selbst. Das Unternehmen besitzt ausschließlich Beteiligungen an Konzessionsgebieten in Mexiko.
" alt="First Global Launches African Mobile Wallet and Secures Three New US State Licenses
Datum: 15.09.2017 - 07:38 Uhr
Sprache: Deutsch
News-ID 560054
Anzahl Zeichen: 8196
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 296 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Starcore Reports Q1 2018 Results
"
steht unter der journalistisch-redaktionellen Verantwortung von
Starcore International Mines Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
