# Starcore Reports Q1 Results Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--fddb7c86-788e-4b7a-8c12-5165ea9012d9 Original source: https://orestocks.com/company/SAM.TO/press-releases/6957497230227035 Publisher: orestocks Original announcement: 2026-09-14T06:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - 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 Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas 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 factor: Increased income from mining operations - Positive factor: Improved gold recovery \(85.5% vs 77.4% YoY\) - Positive factor: Positive net income growth - Negative factor: Higher cash costs per equivalent ounce compared to prior year - Negative factor: Lower silver recovery compared to previous year Facts used in scoring: 4 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: 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 Only** Polarity: negative Definition: 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 1 [Link to this fact](https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--fddb7c86-788e-4b7a-8c12-5165ea9012d9#fact-drill-facts-0) San Martin · gold Needs review: drill\_no\_hole\_id #### 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 Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--fddb7c86-788e-4b7a-8c12-5165ea9012d9#fact-drill-facts-1) San Martin · silver Needs review: drill\_no\_hole\_id #### 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 Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: 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 1 [Link to this fact](https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--fddb7c86-788e-4b7a-8c12-5165ea9012d9#fact-metallurgical-facts-2) San Martin · gold #### 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 factor: Significant improvement in recovery compared to July 2025 \(77.4%\) Evidence · table > 85.5% Context: 1.8 ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/starcore-reports-q1-results--fddb7c86-788e-4b7a-8c12-5165ea9012d9#fact-metallurgical-facts-3) San Martin · silver #### 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 factor: Slight decline in silver recovery compared to July 2025 \(54.8%\) Evidence · table > 58.1% Context: 1.8 #### 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.