Starcore Reports Q2 Results

Core Insights - Starcore International Mines Ltd. reported its financial results for the second quarter ended October 31, 2024, highlighting a two-month closure of mining operations due to safety upgrades mandated by the Mexican Labor Department [2][3] - The company has resumed robust mining and plant operations since October 20, 2024, which is expected to positively impact future financial results [2] Financial Highlights - Cash on hand is CAD 3.7 million and working capital is CAD 4.1 million as of October 31, 2024 [2] - Gold and silver sales totaled CAD 4.9 million for the quarter [2] - The company reported a loss from mining operations of CAD 0.4 million and a net loss of CAD 2.1 million, or CAD 0.03 per share [2][3] - EBITDA for the quarter was CAD 0.4 million, with an EBITDA margin of 2.7% [3][4] Production Highlights - Equivalent gold production for the quarter was 1,466 ounces, with mine operating cash costs of USD 2,743 per equivalent ounce [5] - All-in sustaining costs for the six months ended October 31, 2024, were USD 2,479 per equivalent ounce [5] - Mine production statistics included 1.4 thousand ounces of gold and 7.6 thousand ounces of silver produced in dore for the quarter [5] Operational Metrics - The mine gold grade was 1.10 grams/tonne, and the mine silver grade was 9.81 grams/tonne for the quarter [5] - Gold recovery was 80.3%, while silver recovery was 49.2% [5] - The total milled amount was 48.2 thousand tonnes for the quarter [5] Company Overview - Starcore International Mines focuses on precious metals production, primarily in Mexico, and has expanded its operations internationally [6] - The company emphasizes corporate social responsibility and aims to enhance long-term shareholder value [6]