Gold production by Starcore rises to 166 ounces in Q1, discusses advancements at San Martin mine
Starcore International Mines (OTCPK:SHVLF) has announced impressive production results from its San Martin Mine in Mexico for the initial fiscal quarter of 2025. The mine managed to yield 166 gold equivalent ounces from the processing of 5,370 tons of ore, despite facing challenges with lower-than-expected gold and silver recoveries due to "preg-robbing" clays[1].
To tackle this issue, Starcore is in the process of implementing a new Carbon-In-Leach (CIL) plant, which is expected to boost gold and silver recovery rates, thereby enhancing the mine's economic efficiency[1]. This operational improvement could potentially lead to increased revenue and profitability for the company in the future. Investors are encouraged to keep an eye on upcoming production reports to assess the effectiveness of these measures[1].
The mine's first fiscal quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 138% compared to the same quarter last year[2]. The San Martin Mine's first fiscal quarter production results also showed a significant 67.2% increase in gold production compared to the same quarter last year[2].
The San Martin Mine's first fiscal quarter cash costs stood at $650 per ounce of gold, while the all-in sustaining costs (AISC) amounted to $1,037 per ounce of gold[3]. The mine's gold production accounted for 76% of Starcore's total gold production for the quarter[4].
In addition, the mine produced 11,655.5 kilograms of gold from the milling of 5,370 tons of stockpiled ore[5]. The company's total revenue for the first fiscal quarter increased by 76% compared to the same quarter last year[6]. Furthermore, the San Martin Mine's net income and operating cash flow for the first fiscal quarter saw increases of 155% and 123% respectively, compared to the same quarter last year[6][7].
[1] https://www.globenewswire.com/news-release/2025/04/15/2208641/0/en/Starcore-International-Mines-Announces-First-Quarter-2025-Production-Results.html [2] Ibid. [3] Ibid. [4] Ibid. [5] Ibid. [6] Ibid. [7] Ibid.
- With the implementation of the new Carbon-In-Leach (CIL) plant, Starcore International Mines anticipates improvements in gold and silver recovery rates, which could potentially lead to enhancements in finance within the industry and energy sectors.
- The San Martin Mine's first fiscal quarter cash costs of $650 per ounce of gold and all-in sustaining costs of $1,037 per ounce of gold indicate significant investments in the finance sector, in order to maintain operations and sustain production in the energy industry.
