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Starcore International Mines Ltd T.SAM

Alternate Symbol(s):  SHVLF

Starcore International Mines Ltd. is engaged in precious metals production with focus on Mexico. The Company is engaged in extracting and processing gold and silver in Mexico through the San Martin mine in Queretaro, Mexico. The San Martin mine is located about 47 about kilometers (km) in straight line, northeast of Queretaro City, Queretaro State, on local road No.100 and about 250 km northwest of Mexico City, near the towns of Bernal, Tequisquiapan and Ezequiel Montes. The San Martin mine complex consists of eight mining claims that cover 12,991.7805 hectares (ha). Its Kimourko Gold Project is located in the Lac region of central Ivory Coast, about 40 km south of the capital, Yamoussoukro. Its other projects include the El Creston Project, the Opodepe Project, and the Ajax Project. The El Creston molybdenum property is located in the State of Sonora, Mexico. The Ajax Molybdenum Property consists of about 11,718 ha and is located 13 km north of Alice Arm, British Columbia.


TSX:SAM - Post by User

Comment by northernbullon Oct 25, 2015 6:05pm
81 Views
Post# 24225317

RE:RE:RE:RE:RE:is there

RE:RE:RE:RE:RE:is thereSeriously? I'm an investor in SAM. If I thought there were only 2 years of reserves left, I'd be gone. That's roughly what's on the latest resource estimate. A resource estimate breaks things down into proven and probable reserves. Surely you already know this, or you wouldn't be invested in mining shares.
In any potential buyout, the resource estimate has to be used to help formulate an offer. So even if we think the mine will run for another 20 years, no one who is responsible to their own shareholders could pay for resources that are only 10% proven. It's not a 'bashing' thing, it's reality. Either we prove up a pile of more ore at economic grades, or metal prices need to rise by a few hundred bucks to make us deserve a significantly higher valuation. As for the other assets, it's the same deal. The moly play is huge, but no one can pay big dollars for it now because it has a feasibility study that currently has it underwater with current prices.
Perhaps you understand the numbers much better than you let on, but blindly hoping for a buyout is dangerous. I wasn't trying to say that I didn't want a buyout! I just don't want a buyout at the price we deserve right now. We'll make far more money with SAM in a resource sector turnaround than we would with shares in a larger company that buys us out (which they won't anyway, as we're too small).
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