RE: Some key statistics from Q2 MORE INFOJust some more highlights and info:
-The company prepaid $3.12 million from their $13 million loan for the San Martin property "out of a portion of excess cash flow accumulated over the first six months of mining operations at the San Martin mine." Key word, EXCESS CASH FLOW! That saves significant interest and lowers our current liabilities.
-In July, the company issued 2.6 million stock options to directors at $.78 (I see this as a positive sign).
-Positive CASH FLOW FROM OPERATIONS for the first quarter of production of $979,000. We will have close to $1.8 million of positive cash flow from operations for the fiscal year.
-From $9.2 million in revenue, $3.054 million was from mining operations.
-The company renegotiated its Cerro de Dolores agreement (an exploration property). Starcore isn't afraid to abandon exploration properties, as they did with their Arizona property. For them to renegotiate means they are quite serious about expanding their resources instead of sitting on just the San Martin mine.
Negative
-The 37.4 million shares issued at .50 for the purchase of the mine and the warrant for 1/2 share at 0.80 for 3 years.
-Silver prices aren't following gold. If silver gets going, WATCH OUT!!!