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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 Oct 06, 2014 3:14pm
182 Views
Post# 23003174

RE:RE:RE:news

RE:RE:RE:newsWow, I'm usually one of the more positive ones here, but your comment made me choke. Management can't make a profitable mine worth 30 cents and you think the acquisition will turn into dollars?
buying depressed assets can be a good thing, but when you just declare your first dividend from your mine that needs reserves but sits on a giant chunk of unexplored land, maybe your hard earned money should first be used to check out the property that you already own and is close to your already existing infrastructure. 
Maybe its a great deal, but the optics sure are bad. Buying out a dying junior from the hands of our own management team? My biggest complaint about iMining is that management is stretched thin and lacks focus on Starcore alone. I've said it before, but the story speaks volumes to me. When at a resource show, I told the Starcore booth about my large (for me) SAM position, the response was that 'if you like SAM, you'll wanna buy our other company'
San Martin is a good asset but we do need some reserves growth. I'm just not sure this acquisition makes sense at this time.

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