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Today's Gold Seeker Report Is Sponsored By:

STARCORE INTERNATIONAL VENTURES LTD.  TSX-SAM

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 #6 -- Temporarily Suspended Mining Operations
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com  | March 29, 2020

Due to government mandated shutdowns of select businesses and in this case, mining, in response to the COVID-19 outbreak, there has been rather limited news flow except that related to temporarily suspending mining operations. It is important to note those companies which have temporarily placed operations on care and maintenance (C&M) will see cash outflows from those assets as C&M cost money. Strong balance sheets and available liquidity are imperative given the current market uncertainty.

$AEM $AGI $BTC $CXB.TO $CG.TO $EGO $EDV.TO $EQX $FSM $HL $IAG $HL $LUG.TO $MUX $OGC.TO $PAAS $SSRM

Silver Seeker Report: Next Generation Silver Producers: Part I
By: Chris Marchese, Chief Mining Analyst at GoldSeek  | March 26, 2020

While there are a dearth of primary silver producers and even fewer quality companies, the same can’t be said of the next generation of primary silver producers. With the exception of Pan-American, Hochschild, Hecla, Fortuna, Fresnillo and arguably First Majestic Silver, there are essentially only a couple to no other high-quality primary silver producers (meaning no other companies derive at least 65% of total revenue from silver-equivalent production (silver and gold) and at least 40%-45% +/- from silver, now or in the future (inclusive a company’s advanced development projects), and have an all-in sustaining cost (AISC) profile per ounces of silver in the lowest quartile or bottom 40-50% on the industry cost curve (which may exclude First Majestic Silver for the time being).

Gold Seeker Report: This Week in Mining Issue #5
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com  | March 22, 2020

Kirkland Lake Gold: Relative to its size and free cash flow generating ability, Kirkland is one of the best capitalized gold companies in the world. As such, Kirkland is taking advantage of current market conditions to buy back its stock. It initially engaged in a normal course issuer bid (NCIB) to buy back as much as 20m shares! To date, the company has repurchased 10.1m shares at an average price of US$34.65. While this is higher than the current market price, the company should be able to quickly lower the cost basis on its repurchased shares (as its trading well below $34.65). The Company also doubled its quarterly dividend to $0.125/share.

$AUY $PAAS $SILV $SVM $NEE.V $NGD $MUX $KL $GUY.TO $GCM.TO $EXK $ELY.V $GOLD $ALO $AGI

Gold Seeker Report: This Week in Mining Issue #4
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com  | March 16, 2020

Fortuna: Reported solid FY 2019 results, although investors should really pay Lindero attention, which should give earnings a nice boost as early as Q3, increasing in Q4 and 2021. When commercial production is achieved and production fully ramped up, Lindero will more than double operating and free cash flow. In 2019, Fortuna produced 8.81m oz. Ag and 50.53k oz. Au with all-in sustaining costs (AISC) of $11.90/oz. AgEq. Operating cash flow is higher than one would think because Fortuna’s definition of silver-equivalent is silver + gold + zinc + lead, as opposed to the majority of companies which use gold and base metals or base metals as byproduct credits to reduce the AISC per silver ounce. Operating and free cash flow were approx. $65m and $35m for FY 2019, a 13% and 9% decrease relative to 2018 on the back of slightly lower production and reduced base metal prices (when adjusting for changes in non-cash working capital). The company remains in strong financial condition with $84m in cash and $110m drawn under its $150m credit facility. Construction of the Lindero open-pit heap leach operation was 89% complete at the end of January 2020, so the ramp-up to full scale commercial production should commence sometime in April.

$USA $EDV.to $EQX.to $FSM $FNV $WPM $KGC $MAX.to $OSK.to $PVG $NVO.V

Gold Seeker Report: This Week in Mining Issue #3
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com  | March 09, 2020

Gold Resource Corp: 2019 Production totaled 40.3k oz. Au and 1.73m oz. Ag, generating $5.8 in net income and $26.8m in cash flow from operations. Due to higher gold production at higher prices, the company doubles its annualized dividend from $0.02/share to $0.04/share. 2020 production guidance is for a 20% increase in gold production (+50k oz.) and a slight reduction in silver output (+1.7m oz.).

$AUN.v $BCM.V $CALDAS $EQX $FSM $GOLD.TO $GORO $HIGH.V $MAG $MMX $SAND $SMF.TO $SILV $WM.TO

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