Starcore International Mines Ltd T.SAM

Starcore International Mines earns $940,000 in Fiscal Q1

[tovitekovich]

Net profit of $940,000 canadian or almost 2 cents a share for the quarter!

Company is now sitting on 5 million dollars canadian in cash or 10 cents a share!

If i was the CEO i would imply a buyback program of up to 500,000  shares for a cash consideration of 150,000 dollars canadian

With that i would strongly considerate to hold back at least 100 gold equivalent ounces each quarter and 1000 silver equivalent ounces and put it in the reserves/ balance sheet of the company.

[himmligr]

Yea you right management need to do something with the money. Cash is trash putting gold and silver on the balance sheet would be a smart move but i doubt if they would do that. Drilling on El Creston is capital intensive, holding back gold and silver would impact the earnings. Means less money for drilling and just random stuff around the company. A little dividend or buy back would be nice

[tovitekovich]

Watched a few days ago a interview from saylor you know that bitcoin guy and he was bragging how bitcoin was superior to gold and complaining why all goldminers are not holding a single ounce of gold on their balance sheet and he has a point you know.. why arent we holding gold and silver on our balancesheet? When all central banks around the world are hoarding gold, why arent we? Yup i know

[AlfTanner]

I am generally not a big fan of stock buybacks because they are often just a gimmick.  However, it the case of Starcore, I think stock buybacks are warranted.  The stock price is ridiculous low, and buying shares would be a very good investment for the cash.  I do not think a huge amount of money would be needed.  Maybe just US$100k per quarter.     The