Business
Starcore International Mines Reports Fiscal Q1 2018 Results
VANCOUVER, British Columbia, Sept. 13, 2017 (GLOBE NEWSWIRE) -- Starcore International Mines Ltd. (the “Company”) (TSX:SAM) has filed the results for the first
About this update from Starcore International Mines Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, Sept. 13, 2017 (GLOBE NEWSWIRE) -- Starcore International Mines Ltd. (the “Company”) (TSX:SAM) has filed the results for the first quarter ended July 31, 2017 for the Company and its mining operations in Queretaro, Mexico and toll processing operations in Matehuala, Mexico. 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 the three-month period ended July 31, 2017 (unaudited): Cash and short-term investments on hand is $7.4 million at July 31, 2017; Gold and silver sales of $8.1 million; Loss of $0.3 million, or $(0.01) per share; EBITDA(1) of $443; The following table contains selected highlights from the Company’s unaudited consolidated statement of operations for the quarters ended July 31, 2017 and 2016: (in thousands of Canadian dollars) (unaudited) Quarter endedJuly 31, 2017 2016 Revenues $8,095 $7,188 Cost of Sales (8,474) (6,040) Earnings (loss) from mining and toll processing operations (379) 1,148) Administrative Expenses (600) (857 Income tax recovery (expense) 685 195 Net income $ (294) $486 (i) Income (loss) per share – basic $ (0.01) $0.01 (ii) Income (loss) per share – diluted $ (0.01) $0.01 Reconciliation of Net income to EBITDA(1) For the three months ended July 31, 2017 2016 Net income $(294) $486 Income tax recovery (685) (195) Interest 26 212 Depreciation and depletion 1,396 1,361 EBITDA $443 $1,864 EBITDA MARGIN(2) 5.5% 25.9% (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 ...