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Starcore International Mines Ltd T.SAM

Alternate Symbol(s):  SHVLF

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 northernbullon May 17, 2012 3:54pm
219 Views
Post# 19922478

RE: Shareholder Group

RE: Shareholder Group

Not to play devil's advocate here, but what do you want to change about the direction of the company? They are going to aggressively explore the property with a solid technical team behind them, and also plan on shelling out half of the profits to shareholders in 2013. I can't think of a better plan. We're not mining experts, so I'd just as soon have management calling the shots with the advice of the proven experts they have recently added. I wanted the dividend and they say they will have one, so my only wish has been granted.

Also, any actions would be after the fact, since we're not privy to the decisions before they are made. Would you then discuss each news release and then debate as a group whether or not to complain about something? You sound like you like democracy, so obviously you're not going to be able to speak for everyone, so I question why we would assemble such a group and come to management at this point. Why not wait until there is a single issue that enough people are unhappy with to band together over? Don't get me wrong, if there's enough interest, you should do what you think is best. I have a little less than half a million shares, but that is only around 0.25% of the company. I doubt this board could assemble much clout. You'd need a minimum of 10% of the shares in a VERY unified group (which would be tough to create from various places around the world) to have even marginal influence.

To me, things are moving in the right direction. This isn't CP rail here :o)

Best of luck. I do respect what you're trying to do; perhaps I'm just a defeated commoner that falls in line for 'the man'.

ps- I know today's reversal in gold may be just temporary, but how sweet would it be if they got the bottom within a day or two when they cleared off the hedge?

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