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Highlights
- Gold and silver sales for the quarter totalled CAD 10.7 million, supported by mining operations in Mexico.
- Cash on hand stood at CAD 9.8 million, with working capital of CAD 7.0 million at October 31, 2025.
- Equivalent gold production for the quarter reached 1,860 ounces.
Starcore International Mines Ltd. (TSX:SAM) has reported its unaudited financial and operating results for the second quarter ended October 31, 2025, covering the Company and its mining operations in Queretaro, Mexico. The update details revenue growth, production performance, operating costs, and financial outcomes for both the three- and six-month periods.
Quarterly Financial Performance
For the three-month period ended October 31, 2025, Starcore reported revenues of CAD 10.7 million, compared with CAD 4.9 million in the corresponding period of 2024. Cost of sales for the quarter amounted to CAD 8.3 million, resulting in income from mining operations of CAD 2.4 million, compared with a loss from mining operations in the prior-year period.
Administrative expenses, interest, and foreign exchange costs totalled CAD 2.5 million for the quarter. The Company also recorded a write-down of exploration and evaluation expenditures of CAD 0.55 million. Net loss for the quarter was CAD 0.7 million, or CAD 0.01 per share, compared with a net loss of CAD 2.1 million, or CAD 0.03 per share, in the same period last year.
Six-Month Financial Results
For the six months ended October 31, 2025, Starcore generated revenues of CAD 19.3 million, compared with CAD 13.8 million in the prior-year period. Cost of sales for the six-month period was CAD 15.1 million, resulting in income from mining operations of CAD 4.3 million, up from CAD 1.8 million in the corresponding period of 2024.
Net income for the six-month period totalled CAD 0.2 million, compared with a net loss of CAD 1.7 million in the prior-year period. EBITDA for the six months ended October 31, 2025 amounted to CAD 1.7 million.
Liquidity and Balance Sheet Position
As of October 31, 2025, the Company reported cash on hand of CAD 9.8 million and working capital of CAD 7.0 million. These figures reflect the Company’s liquidity position during the reporting period.
Production and Cost Metrics
During the three-month period ended October 31, 2025, equivalent gold production totalled 1,860 ounces. Mine operating cash costs were reported at USD 2,625 per equivalent ounce. For the six months ended October 31, 2025, all-in sustaining costs were USD 3,537 per equivalent ounce.
Operations and Asset Base
Starcore is engaged in precious metals production with a primary operational focus in Mexico. Its producing assets are supported by exploration and development projects across North America, alongside an international project located in Côte d'Ivoire.
