- Starcore International Mines (SAM) has filed the results for its year end dated April 30, 2022, for its mining operations in Queretaro, Mexico
- Cash on hand is $8.8 million and working capital of $9.1 million
- Gold and silver sales of $25.7 million
- Net Income of $2.4 million, or $0.05 per share, including a $1.6 million gain on sale of royalties
- EBITDA of $4.8 million
- Equivalent gold production of 11,165 ounces
- Starcore International Mines Ltd. (SAM) was up 20 per cent trading at C$0.24 per share as of 10:25 am ET
Starcore International Mines (SAM) has filed the results for its year end dated April 30, 2022, for its mining operations in Queretaro, Mexico.
Financial highlights:
- Cash on hand is $8.8 million and working capital of $9.1 million
- Gold and silver sales of $25.7 million
- Earnings from mining operations of $5.3 million
- Net Income of $2.4 million, or $0.05 per share, including a $1.6 million gain on sale of royalties
- Earnings before interest, taxes, depreciation, and amortization (EBITDA) of $4.8 million
Production highlights:
- Equivalent gold production of 11,165 ounces
- Mine operating cash cost of US$1,239/EqOz
- All-in sustaining costs of US$1,601/EqOz
Chief Executive Officer, Robert Eadie called this another strong year of earnings from mining operations of $5.3 million and net income of $0.05 per share.
“In addition, we have accumulated over $8.8 million in cash at April 30,2022, which does not account for the $1.2 million private placement completed this month which is slated for additional exploration on our properties,” he added. “We will continue to expand our resources through exploration and acquisitions using our cash reserves and our experienced management and operational team in Mexico.”
Starcore (SAM) is engaged in precious metals production, focusing on Mexico. Some of its projects include San Martin, El Creston, and Toiyabe.
Starcore International Mines Ltd. (SAM) was up 20 per cent trading at C$0.24 per share as of 10:25 am ET.