| | Publié le 16 juin 2015 | Reports Third Quarter 2015 Results |
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Re: News - Tuesday, June 16, 2015 Title: Starcore Reports Third Quarter 2015 Results
Vancouver, B.C. -- Starcore International Mines Ltd. (the "Company") has filed the results for the third quarter ended April 30, 2015 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.
Financial Highlights for period ending April 30, 2015
- Cash and cash equivalents on hand is $5.8 million at April 30, 2015 compared to $9.8 million at July 31, 2014, due largely to the acquisition of Creston Moly completed in the quarter;
- Gold and silver sales of $7.2 and $21.7 million for the three and nine months ended April 30, 2015 compared to $8.3 million and $25.4 million for the three and nine months ended April 30, 2014, decreases of 13% and 15%, respectively;
- Net income (loss) of $(0.45) million and $0.3 million for the three and nine months ended April 30, 2015 compared to $1.2 million and $5.1 million for the three and nine months ended April 30, 2014;
- EBITDA(1) of $4.4 million for the nine months ended April 30, 2015 compared to $9.4 million for the nine months ended April 30, 2014, a decrease of $5 million or 53%.
The following table contains selected highlights from the Company's unaudited consolidated statement of operations for the three and nine months ended April 30, 2015 and 2014:
(in thousands of Canadian dollars) (Unaudited) |
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Three months ended April 30, |
Nine months ended April 30, |
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2015 |
2014 |
2015 |
2014 |
Revenues |
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$7,227 |
$8,267 |
$22,039 |
$25,394 |
Cost of Sales |
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(6,853) |
(6,310) |
(21,001) |
(17,932) |
Earnings from mining operations |
|
374 |
1,957 |
1,038 |
7,462 |
Administrative Expenses Income tax (expense) recovery |
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(770) (52) |
(955) 237 |
(1,781) 1,049 |
(2,640) 313 |
Net income (loss) |
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$(448) |
$ 1,239 |
$ 306 |
$5,135 |
(i)Income per share -- basic |
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$0.00 |
$ 0.01 |
$0.00 |
$0.03 |
(ii) Income per share -- diluted |
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$0.00 |
$ 0.01 |
$0.00 |
$0.03 | (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 Corporation market share price.
Reconciliation of Net income to EBITDA |
|
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For the period ending April 30, |
2015 |
2014 |
Net Income |
$ 306 |
$5,135 |
Income tax recovery |
(1,049) |
(313) |
Interest |
- |
137 |
Depreciation and depletion |
5,172 |
4,470 |
EBITDA |
$4,429 |
$9,429 |
EBITDA MARGIN(2) |
20.1% |
37.1% | (2) EBITDA MARGIN is a measurement of a company's 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 Corporation market share price.
Production Highlights for period ending April 30, 2015:
- Equivalent gold production of 4,429 ounces in quarter ended April 30, 2015 compared to 5,338 ounces in quarter ended April 30, 2014, a decrease of 17%;
- Mine operating cash cost is US$906/EqOz for the nine months ended April 30, 2015 compared to US$833/EqOz for the nine months ended April 30, 2014, an increase of 9%;
- All-in sustaining costs of US$1,080/EqOz for the nine months ended April 30, 2015 compared to US$1,066 for the nine months ended April 30, 2014, an increase of 1%.
The following table is a summary of mine production statistics for the San Martin mine for the three and nine months ended April 30, 2015 and for the year ended July, 2014:
|
Unit of measure |
Actual results for 3 months ended April 30, 2015 |
Actual results for 9 months ended April 30, 2015 |
Actual results for 12 months ended July 31, 2014 |
Production of Gold in Dore |
thousand ounces |
4.1 |
14.0 |
22.0 |
Production of Silver in Dore |
thousand ounces |
20.7 |
70.1 |
126.5 |
Equivalent ounces of Gold |
thousand ounces |
4.4 |
14.9 |
24.0 |
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|
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Silver to Gold equivalency ratio |
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72.9:1 |
71.1:1 |
62.7:1 |
Gold grade |
grams/tonne |
1.98 |
2.19 |
2.55 |
Silver grade |
grams/tonne |
16.8 |
18.0 |
24.2 |
Gold recovery |
percent |
85.6% |
84.6% |
87.1% |
Silver recovery |
percent |
50.3% |
51.6% |
52.7% |
Milled |
thousands of tonnes |
76.2 |
234.6 |
308.6 |
Operating Cost per tonne milled |
US dollars/tonne |
53 |
59 |
58 |
Operating Cost per Equivalent Ounce |
US dollars/ounces |
906 |
920 |
750 |
"Given the complexity of the San Martin mine geological structure, it is not unusual to have fluctuations in ore grades causing the changes in production that we are experiencing. Despite this, the mine management has been excellent at reducing costs below budget and, coupled with the higher US dollar exchange rate, we have been able to continue to produce good cash flow from the mine operations exceeding $1 million for the quarter and $4.5 million over the nine months," reported Robert Eadie, President of the Company.
About Starcore
Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiary, Compa�ia Minera Pe�a 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 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
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
This message is personalized to you at .com. Please do not forward this email.
Sent by Starcore International Mines Ltd. Suite 750 - 580 Hornby Street, Box 113, Vancouver, BC, Canada, V6C 3B6
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Données et statistiques pour les pays mentionnés : Canada | Tous Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous
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Starcore International Ventures Ltd
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PRODUCTEUR |
CODE : SAM.TO |
ISIN : CA85525T1030 |
CUSIP : 85525T103 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Starcore International est une société d’exploration minière d'or basée au Canada. Starcore International est productrice d'or, d'argent et de zinc au Mexique, et détient divers projets d'exploration au Mexique. Son principal projet en production est SAN MARTIN (MEXICO) au Mexique et ses principaux projets en exploration sont CERRO DOLORES et EL TRANSITO au Mexique. Starcore International est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 4,9 millions CA$ (3,6 millions US$, 3,4 millions €). La valeur de son action a atteint son plus haut niveau récent le 02 février 2007 à 4,84 CA$, et son plus bas niveau récent le 05 décembre 2019 à 0,05 CA$. Starcore International possède 49 146 851 actions en circulation. |
Financements de Starcore International Ventures Ltd |
Attributions d'options de Starcore International Ventures Ltd |
Nominations de Starcore International Ventures Ltd |
Rapports Financiers de Starcore International Ventures Ltd |
Projets de Starcore International Ventures Ltd |
Communiqués de Presse de Starcore International Ventures Ltd |
18/01/2016 | Starcore Announces Results of Annual General Meeting |
22/12/2015 | IIROC Trade Resumption - SAM |
22/12/2015 | Starcore Clarifies Trading Halt |
22/12/2015 | IIROC Trading Halt - SAM |
15/12/2015 | Starcore Reports Q1 2016 Results |
03/09/2015 | Starcore Closes Debt Settlement |
19/08/2015 | Starcore Produces 4,694 Equivalent Gold Ounces in Fiscal Q4 |
11/08/2015 | Starcore Arranges Debt Settlement |
10/08/2015 | Closing Of Plan Of Arrangement |
13/07/2015 | Cortez Gold Securityholders Approve Plan Of Arrangement |
17/03/2015 | Starcore Reports Second Quarter 2015 Results |
19/02/2015 | Starcore Closes Acquisition of Creston Moly |
17/02/2015 | Starcore Produces 5,130 Equivalent Gold Ounces in Fiscal Q2 |
17/02/2015 | Produces 5,130 Equivalent Gold Ounces in Fiscal Q2 |
04/02/2015 | Starcore Announces Results of Annual General Meeting |
23/01/2015 | Starcore Acquires Creston Moly from Bankruptcy Trustee |
09/12/2014 | Starcore Reports First Quarter 2015 Results |
20/11/2014 | American Consolidated Shareholders Approve Plan of Arrangeme... |
19/11/2014 | Starcore Posts First Quarter Production Results |
29/10/2014 | Starcore Reports Fiscal 2014 Results |
20/10/2014 | Starcore: Reserves of 486,586 Tons for San Martin Mine |
01/10/2014 | Starcore International to Acquire American Consolidated Mine... |
26/08/2014 | Starcore Announces Approval of Normal Course Issuer Bid |
20/08/2014 | Starcore Announces Payment of Dividend to Shareholders, Norm... |
11/08/2014 | Starcore Produces 24,037 Gold Equivalent Ounces in Fiscal 20... |
13/06/2014 | Starcore International Mines Ltd.: Correction to June 12th N... |
13/06/2014 | Starcore International Mines Ltd.: Correction to June 12th N... |
12/06/2014 | Starcore Earns $1.24 Million in the Second Quarter |
30/05/2014 | Starcore Produces 5,338 Gold Equivalent Ounces in 3rd Quarte... |
30/05/2014 | Starcore Produces 5,338 Gold Equivalent Ounces in 3rd Quarte... |
17/02/2014 | Posts Third Consecutive +6,000 Ounce Quarter |
22/11/2013 | Approves Advance Notice Policy |
29/10/2013 | Year End Results |
15/10/2013 | Mines Ltd.: Surface Drilling Begins at San Martin |
09/10/2013 | Reserves of 705,998 tonnes for San Martin Mine |
05/09/2013 | Mines Ltd.: Corporate Update |
03/09/2013 | Pays Final $3.68 Million of Debt |
15/08/2013 | CORRECTION FROM SOURCE: Starcore Posts Record Quarter |
13/06/2013 | Mines Ltd.: Profitable Q3 |
15/03/2013 | Mines Ltd.: Return to Profit for Second Quarter of 2013 |
26/10/2012 | Reports Annual Earnings of $14.34 Million |
15/06/2012 | Reports Third Quarter Earnings of $4.2 Million and $10.8 Mil... |
05/06/2012 | Cores 18.2 Meters Grading 14.61 g/t Gold and 113 g/t Silver ... |
15/05/2012 | Hedge Is Gone! |
11/05/2012 | Secures $11 Million Loan to Buy Out the Hedge |
07/05/2012 | Mines Ltd.: Jeff Hussey Joins Technical Advisory Board |
30/04/2012 | Dr. Peter Megaw to Head Starcore's Technical Advisory Board |
18/04/2012 | Bolsters its Technical Advisory Board |
10/04/2012 | New Director for Starcore's Board |
12/03/2012 | Mines Ltd.: Second Quarter Production for San Martin Mine Re... |
02/02/2012 | Now Debt Free |
31/01/2012 | Closes $2.25 Million Financing |
24/01/2012 | Mines Ltd.: Private Placement Arranged |
17/01/2012 | Reports Record Quarterly Earnings of $3.2 Million for First ... |
09/12/2011 | President of Starcore Retires |
22/09/2011 | Mines Ltd.: Reserves Increased to 586,318 Tons for San Marti... |
29/08/2011 | Mines Ltd.: Production Results for San Martin Mine for the Y... |
18/07/2011 | Intersects 20.6 g/t Gold and 274 g/t Silver Over 3.7 Meters ... |
15/06/2011 | Earns $5.18 million from Mine Operations for Third Quarter o... |
07/06/2011 | Mines Ltd.: Shareholders Approve Rights Plan and Financing |
04/05/2011 | Mines Ltd.: SAM Vein Extended for 180 Meters of Strike Lengt... |
12/04/2011 | Closes on $2.5 million Financing |
23/03/2011 | Mines Ltd.: Cancellation of Security Interest |
01/12/2009 | Closes on $2.2 million Financing |
25/11/2009 | will be exhibiting at Mines and Money |
18/11/2009 | Arranges $2 million Financing |
12/11/2009 | Engages Financial Advisor |
09/11/2009 | Wins Silver Helmet Award for its San Martin Mining Operation... |
26/01/2009 | Receives Commitment for US$10 Million |
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