# Starcore Reports Q1 Results Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--c09bfff3-7178-4c91-9cd5-60336bd984bd Original source: https://starcore.com/starcore-reports-q1-results-7/ Publisher: prospectors\_exchange Original announcement: 2026-09-14T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-16T17:06:30.104Z Atlas analysis updated: 2026-09-16T17:06:30.104Z - Company: Starcore International Mines Ltd. - Ticker: SAM - Exchange: Unavailable - Region: Queretaro, Mexico - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Production, Metallurgy - Extracted: 2026-09-16 17:06:30 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Starcore International Mines Ltd. reported its Q1 results for the period ended July 31, 2026, highlighting increased income from mining operations and a net income of $0.03 per share. The company achieved gold production of 1.8 thousand ounces and silver production of 13.6 thousand ounces from its San Martin mine in Mexico, with gold recovery at 85.5% and silver recovery at 58.1%. Despite some production declines and increased costs, the CEO expressed optimism for continued improvement. Reasoning: Starcore reported mixed Q1 2026 results with increased income from mining operations and improved gold and silver recoveries, but also experienced declines in gold production, gold grade, and milled tonnes, alongside higher operating costs. The CEO expressed optimism for future improvements. - Positive factor: Increased income from mining operations - Positive factor: Improved gold and silver recoveries - Positive factor: Increased silver production and grade - Negative factor: Decreased gold production and grade - Negative factor: Decreased milled tonnes - Negative factor: Increased operating cash costs Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 12 ## Classification and evidence **Resource Update** Polarity: neutral Story-specific tag Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document reports quarterly financial and production results, which is a routine update. Evidence · text > Starcore Reports Q1 Results **QP/CP Signed** Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Salvador Garcia, B. Eng., a director of the Company and Chief Operating Officer, is stated as the Qualified Person for the project under NI 43-101. Evidence · text > Salvador Garcia, B. Eng., a director of the Company and Chief Operating Officer, is the Company’s qualified person on the project as required under NI 43-101 ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Metallurgical Results (2) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--c09bfff3-7178-4c91-9cd5-60336bd984bd#fact-metallurgical-facts-10) San Martin Mine · gold #### Identity - Project: San Martin Mine - Commodity: gold - Region: mexico - Reported Region: Queretaro, Mexico - Ticker: SAM #### Test Work - Processing Route: mill\_cil #### Recovery - Recovery: 85.5 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: Mine gold recovery improved significantly from 77.4% in Q1 2025 to 85.5% in Q1 2026, indicating operational improvements in carbon ore processing. - Positive factor: Recovery Improving Evidence · table > 85.5 % Context: Mine Gold recovery ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--c09bfff3-7178-4c91-9cd5-60336bd984bd#fact-metallurgical-facts-11) San Martin Mine · silver #### Identity - Project: San Martin Mine - Commodity: silver - Region: mexico - Reported Region: Queretaro, Mexico - Ticker: SAM #### Test Work - Processing Route: mill\_cil #### Recovery - Recovery: 58.1 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: Mine silver recovery improved from 54.8% in Q1 2025 to 58.1% in Q1 2026, indicating operational improvements in carbon ore processing. - Positive factor: Recovery Improving Evidence · table > 5 8.1 % Context: Mine Silver recovery #### Tags used in scoring **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 58.1% is below the weak band \(75%\) ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.