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Starcore International Mines Ltd SHVLF


Primary Symbol: T.SAM

Starcore International Mines Ltd. is a Canada-based company, which is engaged in exploring, extracting, and processing gold and silver. The Company through its wholly owned subsidiary, Compania Minera Pena de Bernal, S.A. de C.V. (Bernal), which owns the San Martin mine in Queretaro, Mexico. It is also engaged in acquiring mining related operating assets and exploration assets in North America. Its San Martin mine is located approximately 50 kilometers (km) east of the City of Queretaro, Mexico, and consists of mining concessions covering approximately 13,077 hectares (ha), which includes seven underground mining units and four units under exploration. Its Ajax Molybdenum property, approximately 1,718 hectares in size, hosts the Ajax Porphyry Molybdenum Deposit. Its Opodepe project consists of the Teocuitla and El Creston properties. Its El Creston molybdenum property is located in the State of Sonora, Mexico. Its Toiyabe Gold Project is located in Lander County, Nevada, United States.


TSX:SAM - Post by User

Comment by gpwildon May 13, 2022 6:53pm
78 Views
Post# 34683227

RE:RE:RE:RE:RE:RE:O.35 cad$

RE:RE:RE:RE:RE:RE:O.35 cad$Robert Eadie has a lot of his own personal wealth tied up in Starcore and most of his shares were locked in at prices well above 0.35

A hostile takeover at that price would be personally very negative for him. Starcore has said it doesn't want to issue dividends or do share buybacks and use the cash for exploration purposes... For long term considerations, that's probably the best use of cash but they are being targeted by corporate raiders in a hostile takeover bid. They need to take the funds and get the stock price moving, otherwise CEO loses a lot of his personal wealth.  Shareholders also deserve a much better deal.

From the height of the bull market in the 2010's starcore has went from $1.20 (adjusted value in consideration of 4 to 1 share consolidation)  to 0.05 and 0.35 is still a fraction of what this company was once worth and honestly with the moly projects the assets held are probably better now than they were back then.
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