Starcore International Mines : Financial Reporting Document

January 31,

April 30,

As at

2023

2022

Assets

Current

Cash and cash equivalents

$

7,131

$

8,818

Amounts receivable (note 3)

1,718

1,580

Inventory (note 4)

1,565

1,535

Investment (note 5)

328

492

Prepaid expenses and advances

340

472

Total Current Assets

11,082

12,897

Non-Current

Mining interest, plant and equipment (note 6)

28,950

29,820

Right-of-use assets (note 8)

429

894

Exploration and evaluation assets (note 7)

5,625

5,082

Deferred tax assets

3,513

3,348

Total Non-Current Assets

38,517

39,144

Total Assets

$

49,599

$

52,041

Liabilities

Current

Trade and other payables

$

2,443

$

3,126

Current portion of lease liability (note 8)

208

636

Total Current Liabilities

2,651

3,762

Non-Current

Rehabilitation and closure cost provision (note 9)

2,590

2,353

Lease liability (note 8)

220

262

Deferred tax liabilities

5,750

5,610

Total Non-Current Liabilities

8,560

8,225

Total Liabilities

$

11,211

$

11,987

January 31,

April 30,

As at

2023

2022

Equity

Share capital (note 10)

$

51,878

$

50,725

Equity reserve

11,349

11,349

Foreign currency translation reserve

3,660

2,185

Accumulated deficit

(28,499)

(24,205)

Total Equity

38,388

40,054

Total Liabilities and Equity

$

49,599

$

52,041

Commitments (note 12)

Subsequent Event (note 12)

Approved by the Directors:

"Robert Eadie"

Director

"Gary Arca"

Director

For the three months ended

For the nine months ended

January 31,

January 31,

2023

2022

2023

2022

Revenues

Mined ore

$

6,162

$

5,387

$

17,724

$

18,220

Cost of Sales

Mined ore

(5,806)

(4,117)

(14,520)

(12,394)

Depreciation and depletion

(909)

(850)

(2,842)

(2,476)

Total Cost of Sales

(6,715)

(4,967)

(17,362)

(14,870)

Earnings (loss) from mining operations

(553)

420

362

3,350

Financing costs

(31)

(47)

(120)

(134)

Foreign exchange gain (loss)

86

72

183

93

Management fees and salaries

(496)

(226)

(1,467)

(916)

Office and administration

(545)

(310)

(1,261)

(576)

Professional and consulting fees

(253)

(174)

(856)

(554)

Pre exploration costs

(14)

-

(65)

(25)

Shareholder relations

(241)

(176)

(606)

(461)

Transfer agent and regulatory fees

(26)

(19)

(98)

(57)

Earnings (loss) before other losses and taxes

(2,073)

(460)

(3,928)

720

Other Losses

Unrealized loss on investment (note 5)

(41)

(41)

(164)

(246)

Loss on Toiyabe (note 7)

-

(1)

-

(40)

Total Other Losses

(41)

(42)

(164)

(286)

Earnings (loss) before taxes

(2,114)

(502)

(4,092)

434

Income taxes

Current (expense)/recovery

(4)

-

(444)

-

Deferred (expense)/recovery

256

111

242

(208)

Earnings (loss) for the period

(1,862)

(391)

(4,294)

226

Other comprehensive income (loss)

Foreign currency translation differences

(959)

755

1,475

930

Comprehensive income (loss) for the period

$

(2,821)

$

364

$

(2,819)

$

1,156

Basic earnings (loss) per share (Note 14)

$

(0.03)

$

(0.01)

$

(0.08)

$

0.00

Diluted earnings (loss) per share (Note 14)

$

(0.03)

$

(0.01)

$

(0.08)

$

0.00