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Starcore International is a gold and silver producer in Mexico and a 'Tier One' company listed on the TSX-V under the symbol SAM.

The San Martin Gold mine was acquired January 2007 from Goldcorp Inc. It is located about 50 km east of the City of Querétaro in Querétaro State, a few hours drive from Mexico City. The company currently retains an 80 to 20 joint venture agreement with Goldcorp. Inc. in the development of the Cerro Dolores, El Transito Deposit 190 km south - southwest of Mexico City. The El Transito Deposit is a silver-lead-zinc replacement orebody defined by over $US 2 million in development expenditures

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Gold Seeker Report: This Week in Mining Issue #14: A Quiet Week on the Mining Front
By: Chris Marchese, Chief Mining Analyst at  | May 25, 2020


With most mining operations ramping production back-up, preparing to ramp-up, or already operating “normally”, the news-flow has died down considerably in the last week, though given what’s going on the macro-economy, this is unlikely to last for any prolonged period of time. While a major theme for over the next 12-18 months, will be M&A, it could take breather for a while, primarily as result of mining teams unable to complete its due diligence on prospective assets or companies to acquire because of travel restrictions from CV19. This is not to say M&A won’t continue in the near future, just that it will be less than would otherwise be the case.

New Pacific Metals Update
By: Chris Marchese, Chief Mining Analyst at  | May 19, 2020

With three very impressive advanced stage silver projects coming online over the next three-four years (Juancipio: 2020, Las Chispas: 2022, and Corani: 2023/2024), what comes after? This leaves very few silver projects to be excited about. There are a very large number of higher-grade deposits that are relatively small (i.e. those owned by Alexco Resource and Aurcana) and a larger number of low-grade uneconomic deposits below $22-$24/oz. Ag (i.e. Pitarilla). One exceptionally quality project, however, is New Pacific’s Silver Sand project, which, from the very start of exploration has illustrated continuous impressive results.

Gold Seeker Report: This Week in Mining Issue #13 – Earnings, Continued M&A & Mining Restarts
By: Chris Marchese, Chief Mining Analyst at  | May 18, 2020


Mexico has declared mining can resume early (May 18th), 12-days early relative to the date initially stated. This includes countless mining operations by the likes of America’s Gold and Silver, Torex Gold, Equinox Gold, Endeavour Silver, First Majestic Silver, Fortuna Silver, Great Panther, Alamos Gold, Newmont, Pan-American, Fresnillo, Coeur, among many others. This is a good sign as far fewer countries continue to mandate the continued suspension of mining activities..

Gold Seeker Report: This Week in Mining Issue #12 – Strong Earnings Reports & More M&A
By: Chris Marchese, Chief Mining Analyst at  | May 11, 2020

B2Gold: Reported a very strong Q1, setting quarterly records for total gold production, revenue, operating cash flow and operating costs. The company also increased its dividend 100% to $0.02/share per quarter ($0.08/share annualized). Consolidated production totaled 250.63k oz. Au or 7% above budget. Total production (inclusive of its attributable oz. from Calibre) was 264.86k oz. Revenue totaled $380 from its three operations, a 44% increase vs. the year ago period. Operating cash flow saw a whopping 151% increase over the comparable period in 2019 of $216m (vs. $86m). The company also achieved record low quarterly cash costs of $382/oz. Au and AISC of $695/oz. Its flagship Fekola Mine achieved record quarterly gold production of 164k oz. (656k oz. annualized) at record low cash costs of $251/oz. and AISC of $519/oz. B2Gold’s growth profile will remain flat for at least the next three years barring any M&A activity making it a top candidate to either engage in M&A or be taken over by a large senior producer i.e. Barrick Gold. Fekola meets Barrick’s requirements as a Tier-1 asset.


Gold Seeker Report: This Week in Mining Issue #11: Earnings Season and M&A
By: Chris Marchese, Chief Mining Analyst at  | May 04, 2020

Agnico-Eagle: Reported Q1 2020 financial results as well as new 2020 production guidance to reflect the temporary shutdown of seven of its eight mines. Operating cash flow in Q1 was $163.4m and $205m before changes in non-cash working capital. This compares favorably to cash flow from operations in Q1 2019, which was $148.7m and $171m before changes in non-cash working capital. There was a minimal impact due to suspension of select mining operations and a larger impact as a result of higher costs at the Meadowbank complex and Meliadine mine, which were ramping up production during the quarter. Q1 AISC was elevated at $1,099/oz. Updated 2020 production is now forecast to be 1.63m-to-1.73m oz. Au with AISC of $975-$1,025/oz., compared to original guidance of 1.875m oz. 2021 and 2022 production guidance remains unchanged at 2.05-2.1m oz.


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