Business
Starcore Reports Year End 2024 Results
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - Starcore International Mines Ltd...
About this update from Starcore International Mines Ltd.
[{"type":"text","content":"\nStarcore Reports Year End 2024 ResultsVancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - Starcore International Mines Ltd. (TSX: SAM) (\"Starcore\" or the \"Company\") has filed the results for the year end dated April 30, 2024 for the Company and its mining operations in Queretaro, 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.sedarplus.ca. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.\"Our operations made significant advancements in the last two quarters of the fiscal year which resulted in net income of $0.03 per share for the year,\" reported Robert Eadie, Chief Executive Officer. \"Our mining operations at San Martin reported healthy profits from mining operations in this period due to improved grades and, of course, metal prices. We continue to invest in San Martin and other projects in Mexico to complement our operations and build shareholder value.\"Financial Highlights for the year ending April 30, 2024 (audited) and quarter ended April 30, 2024 (unaudited):Cash on hand is $5.3 million and working capital of $5.7 million at April 30, 2024; Gold and silver sales of $28.3 million;Income from mining operations of $2.4 million for the year and 2.2 million in the 4th quarter ended April 30, 2024;Income for the year of $1.6 million, or $0.03 per share and $4.5 million, or $0.06 per share, for the quarter ended April 30, 2024;EBITDA(1) of $1.1 million; The following table contains selected highlights from the Company's audited consolidated statement of operations for the three months ended and years ended April 30, 2024 and April 30, 2023:                     Three Months Ended    Twelve Months Ended    April 30, 2024   April 30, 2023   April 30, 2024   April 30, 2023 Revenues $ 9,335 $ 5,183 $ 28,327 $ 22,907 Cost of Sales   (7,173)   (4,792)   (25,922)   (22,154) Income from mining operations   2,162   391   2,405   753 Administrative Expenses   (1,295)   (859)   (4,100)   (5,148) Gain (loss) on investment   19   3...