Starcore International Mines Ltd
SAMStarcore International Mines Ltd. operates as a mineral resource firm, involved in the exploration, extraction, and processing of mineral assets within Mexico. Its subsidiary, Compañia Minera Peña de Bernal, S.A. de C.V., focuses specifically on discovering gold and silver deposits. The company's primary asset is the San Martin mine, encompassing eight mining claims spread across 12,991.78 hectares in Queretaro, Mexico. Previously known as Starcore International Ventures Ltd., the company adopted its current name, Starcore International Mines Ltd., in February 2008. Established in 1980, Starcore International Mines Ltd. maintains its corporate headquarters in Vancouver, Canada.
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Key Information
Legal Entity
Starcore International Mines Ltd
Sector
Precious Metal
Founded
June 29, 2004
Employees
53
Reporting Currency
CAD
Contact Phone
16046024935
Website
www.starcore.comHeadquarters Address
580 Hornby Street , Vancouver , BC V6C 3B6 , CA
Identifiers
ISIN
CA85525T2020CUSIP
85525T202
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Profitable Production Meets Discovery Upside in Mexico: Starcore International Mines
Key Highlights
detailed- The CEO's top emphasis is exploration upside: a completed geophysical survey covering the whole 12,992-hectare San Martin property — 100%-owned with no NSRs and no leverage — is expected to yield drill targets the company will test before the end of 2026.
- Audited results for the fiscal year ended April 30 delivered 8 cents of earnings per share, which the CEO calls a clear improvement over the prior year, with each quarter improving on the last.
- Plant upgrades center on filtration and dry-stack tailings rather than a tailings dam, targeting better recoveries and consistent throughput across two ore types from San Martin, with carbonaceous ore treatment now at roughly 100 tons per day alongside the regular oxide ore.
- At La Tortilla, two hours from San Martin, a newly signed community agreement is described as key: material will be trucked to San Martin's infrastructure for processing, feeding one of three targeted revenue streams over the next 18 to 24 months.
- La Tortilla permitting is in the MIA environmental assessment: the Mexican government responded within its 90-day service standard with 14 questions, which the company is now in the middle of answering.
Starcore delivered $0.08 audited EPS for its April 30 fiscal year, with quarter-by-quarter improvement showing full-year results best reflect a mine's peaks and valleys. Filtration upgrades enable dry-stack tailings — no dam to fail — and about 100 tons per day of carbonaceous ore treatment alongside oxide feed. A secured community agreement for La Tortilla underpins Mexico's 90-day environmental review, with 14 government questions now being answered. A property-wide geophysical survey across San Martin's 12,992 hectares should yield drill targets for testing before year-end. The CEO points to exploration upside — 100% ownership with no NSRs (net smelter return royalties) — since the operation today is not a 200,000-ounce producer.
Starcore International is All-In on Precious Metals Production in Mexico
Key Highlights
detailed- The guest targets about $165 million in net revenue over roughly six years from three Mexican revenue streams — San Martin oxide ore, San Martin carbonaceous ore and La Tortilla — with a stated target of 18 to 24 months from the 28 May 2026 interview date to be fully up and running.
- He says the company is 100% focused on its Mexican assets following the completed spin-out of its African assets, with carbonaceous ore from San Martin only beginning to be processed in the month before the interview.
- A helicopter aeromagnetic survey was completed across the entire 12,992-hectare San Martin property (roughly 10 by 13 km), described as the first time modern geophysics has been applied property-wide, with results due within weeks and intended to guide new drilling.
- The La Tortilla restart is framed as a permitting and shipping exercise rather than a build: an environmental impact study has been filed, and silver ore grading about 550 grams per ton at the start would be trucked roughly two hours by paved road to be processed under San Martin's existing licences.
- San Martin has about 12 years left on its current tailings permit plus a further 12 years granted as a dry-stack operation, and management points to September 2026 to start drilling at a site it says is accessible year-round, with results from its on-site lab in 12 to 18 hours.
Eadie says Starcore's Mexico-only focus targets about $165 million in net revenue over six years, with everything running in 18 to 24 months. Eadie frames three revenue streams: San Martin oxide ore, newly processing carbonaceous ore, and La Tortilla silver near 550 grams per ton. Eadie says a first-time helicopter aeromagnetic survey over the full 12,992-hectare property should guide drilling from September. La Tortilla silver ore would truck two hours to San Martin's existing plant, avoiding a new mine build; only an environmental permit is pending. Eadie credits San Martin's own shops, crews and lab with removing mobilization costs and 12- to 18-hour assay turnaround.
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