VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2013) - Starcore International Mines Ltd. (the "Company") (TSX:SAM) has filed the results for the second quarter ended January 31, 2013 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 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.
Three months ended January 31, 2013 Second Quarter Highlights:
Three months ended | Six months ended | ||||
(unaudited) (in thousands of Canadian dollars) | January 31, 2013 | January 31, 2013 | |||
Revenues | |||||
Mined ore | $ | 7,233 | $ | 13,714 | |
Cost of Sales | |||||
Mined Ore | 4,867 | 10,097 | |||
Earnings from mining operations | $ | 2,366 | 3,617 | ||
Net loss | |||||
(i) Net income (loss) | $ | 2,319 | $ | 1,973 | |
(ii) Income (loss) per share - basic | $ | 0.02 | $ | 0.01 | |
(iii) Income (loss) per share - diluted | $ | 0.02 | $ | 0.01 | |
(Unaudited) | Unit of measure | Actual results for 3 months ended January 31, 2013 |
Actual results for 6 months ended January 31, 2013 |
Production of Gold in Dore | thousand ounces | 4.4 | 7.9 |
Production of Silver in Dore | thousand ounces | 23.9 | 46.3 |
Equivalent ounces of Gold | thousand ounces | 4.8* | 8.7* |
Gold recovery | percent | 78.4% | 73.9% |
Silver recovery | percent | 55.0% | 54.5% |
Gold grade | grams/tonne | 2.23 | 2.12 |
Silver grade | grams/tonne | 17.7 | 17.0 |
Milled | thousands of tonnes | 78.2 | 155.6 |
Operating Cost per tonne milled | US dollars/tonne | 56 | 55 |
Operating Cost per Equivalent Ounce | US dollars/ounces | 906 | 980 |
* Based on actual gold to silver equivalency ratios of 53:1. |
About Starcore
Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiary, Compañia Minera Peña 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 Mexico.
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.
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