Starcore Reports Q3 2017 Results

https://www.starcore.com/news/news-releases/starcore-reports-q3-2017-results

Vancouver, B.C. – Starcore International Mines Ltd. (the “Company”) has filed the results for the quarter ended January 31, 2017 for the Company and its mining operations (Bernal) and purchased concentrate operations (Altiplano). 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 quarter ended January 31, 2017:

  • Cash and short-term investments on hand is $4.7 million at January 31, 2017 compared to $10 million at April 30, 2016;
  • Altiplano purchased concentrate operations became operational at November 1, 2016, having been removed from the pre-operational phase. This is the first full quarter that the Altiplano plant is reported in operations;
  • Gold and silver sales of $6.2 million for the three months ended January 31, 2017 compared to $7.0 million for the three months ended January 31, 2016, which includes $756 from purchased concentrate processing, a decrease of 11%,
  • Loss from operations of $0.5 million for the three months ended January 31, 2017 compared to earnings of $0.7 million for the three months ended January 31, 2016;
  • EBITDA(1) of $3,123 for the nine months ended January 31, 2017 compared to $4,499 for the nine months ended January 31, 2016.

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