Starcore Reports Q1 Results
Original announcement by orestocks on
- Company
- Starcore International Mines Ltd.
- Ticker
- SAM.TO
- Exchange
- Unavailable
- Region
- Queretaro, Mexico
- Primary commodity
- Gold
- Secondary commodities
- Silver
- Document categories
- Drill results, Production, Metallurgy
- Extracted
- 2026-09-14 06:47:18 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Starcore International Mines reported Q1 2026 results showing a net income of $3.1 million and improved gold recovery of 85.5%. While mining income increased, all-in sustaining costs rose to US$3,940/EqOz.
Reasoning: The company reported improved profitability and gold recovery, though operating costs per equivalent ounce have increased.
Positive factors
- Increased income from mining operations
- Improved gold recovery (85.5% vs 77.4% YoY)
- Positive net income growth
Negative factors
- Higher cash costs per equivalent ounce compared to prior year
- Lower silver recovery compared to previous year
Facts used in scoring: 4
Classification and evidence
QA/QC Disclosedpositive · Story-specific tag
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release mentions a qualified person (Salvador Garcia) has prepared the technical information.
Evidence · text
“Salvador Garcia, a director of the Company and Chief Operating Officer, is the Company's qualified person”
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 4. Some facts used in scoring do not have a stored record.
Drill Results (2)
Fact 1San Martin · goldGrade: 1.35Grade Unit: grams/tonneNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- San Martin
- Commodity
- gold
- Region
- mexico
- Reported Region
- mexico
- Ticker
- SAM.TO
Geometry
- Grade
- 1.35
- Grade Unit
- grams/tonne
Classification
- Sample Type
- drill
QA/QC
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Reported mine gold grade for the quarter.
Evidence · table
“1.35”
Context: 1.8
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 2San Martin · silverGrade: 14.7Grade Unit: grams/tonneNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- San Martin
- Commodity
- silver
- Region
- mexico
- Reported Region
- mexico
- Ticker
- SAM.TO
Geometry
- Grade
- 14.7
- Grade Unit
- grams/tonne
Classification
- Sample Type
- drill
QA/QC
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Reported mine silver grade for the quarter.
Evidence · table
“14.70”
Context: 1.8
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Metallurgical Results (2)
Fact 1San Martin · goldRecovery: 85.5 %View all detailsHide details
Identity
- Project
- San Martin
- Commodity
- gold
- Region
- mexico
- Reported Region
- Queretaro, Mexico
- Ticker
- SAM.TO
Test Work
- Sample
- Mine Gold recovery
Recovery
- Recovery
- 85.5 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Gold recovery increased year-over-year.
Positive factors
- Significant improvement in recovery compared to July 2025 (77.4%)
Evidence · table
“85.5%”
Context: 1.8
Fact 2San Martin · silverRecovery: 58.1 %View all detailsHide details
Identity
- Project
- San Martin
- Commodity
- silver
- Region
- mexico
- Reported Region
- Queretaro, Mexico
- Ticker
- SAM.TO
Test Work
- Sample
- Mine Silver recovery
Recovery
- Recovery
- 58.1 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Silver recovery is relatively low and shows slight volatility.
Negative factors
- Slight decline in silver recovery compared to July 2025 (54.8%)
Evidence · table
“58.1%”
Context: 1.8
Tags used in scoring
Low Recoverynegative
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.