NOTICE TO READER OF THE UNAUDITED CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
The unaudited condensed interim consolidated financial statements for the three months ended July 31, 2023, have been prepared by and are the responsibility of the Company's management. These financial statements have not been reviewed or audited by the Company's auditors.
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
2
Starcore International Mines Ltd.
Condensed Interim Consolidated Statements of Financial Position (in thousands of Canadian dollars) - (Unaudited)
July 31,
April 30,
As at
2023
2023
Assets
Current
Cash and cash equivalents (note 3)
$
5,695
$
6,443
Amounts receivable (note 4)
1,868
1,970
Inventory (note 5)
1,537
2,389
Prepaid expenses and advances
316
366
Investment (note 6)
426
639
Total Current Assets
9,842
11,807
Non-Current
Mining interest, plant and equipment (note 7)
28,791
30,230
Right-of-use assets (note 9)
718
376
Exploration and evaluation assets (note 8)
5,873
5,681
Deferred tax assets
2,812
2,812
Total Non-Current Assets
38,194
39,099
Total Assets
$
48,036
$
50,906
Liabilities
Current
Trade and other payables
$
3,235
$
3,125
Current portion of lease liability (note 9)
386
216
Total Current Liabilities
3,621
3,341
Non-Current
Rehabilitation and closure cost provision (note 11)
2,872
2,920
Lease liability (note 9)
295
168
Deferred tax liabilities
5,569
5,701
Total Non-Current Liabilities
8,736
8,789
Total Liabilities
$
12,357
$
12,130
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
3
Starcore International Mines Ltd.
Condensed Interim Consolidated Statements of Financial Position (in thousands of Canadian dollars) - (Unaudited)
July 31,
April 30,
As at
2023
2023
Equity
Share capital (note 12)
$
51,878
$
51,878
Equity reserve
11,349
11,349
Foreign currency translation reserve
3,621
5,010
Accumulated deficit
(31,169)
(29,461)
Total Equity
35,679
38,776
Total Liabilities and Equity
$
48,036
$
50,906
Commitments (note 14)
Subsequent Event (note 18)
Approved by the Directors:
"Robert Eadie"
Director
"Gary Arca"
Director
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
4
Starcore International Mines Ltd.
Condensed Interim Consolidated Statements of Operations and Comprehensive Income (in thousands of Canadian dollars except per share amounts) - (Unaudited)
For the three months ended July 31,
2023
2022
Revenues
Mined ore
$
6,233
$
6,750
Total Revenues (note 17)
$
6,233
$
6,750
Cost of Sales
Mined ore
(6,233)
(4,716)
Depreciation and depletion (notes 7 and 9)
(751)
(987)
Total Cost of Sales
(6,984)
(5,703)
Earnings (loss) from mining operations
(751)
1,047
Financing costs (note 10)
(9)
(49)
Foreign exchange
116
26
Management fees and salaries (note 14)
(288)
(532)
Office and administration
(350)
(337)
Professional and consulting fees
(181)
(287)
Shareholder relations
(95)
(224)
Transfer agent and regulatory fees
(28)
(32)
Earnings (loss) before taxes and other losses
(1,586)
(388)
Other Income / (Losses)
Unrealized gain (loss) on investment (note 6)
(213)
(103)
Total Other Income / (Losses)
(213)
(103)
Earnings (loss) before taxes
(1,799)
(491)
Income tax recovery (expense)
Deferred
91
(166)
Earnings (loss) for the period
(1,708)
(657)
Other comprehensive income (loss) - items that may be
subsequently reclassified to profit or loss:
Foreign currency translation differences
(1,389)
110
Comprehensive income (loss) for the period
$
(3,097)
$
(547)
Basic earnings (loss) per share (note 16)
$
(0.03)
$
(0.01)
Diluted earnings (loss) per share (note 16)
$
(0.03)
$
(0.01)
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
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Starcore International Mines Ltd. published this content on 14 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2023 23:24:07 UTC.
Starcore International Mines Ltd. is a Canada-based company, which is engaged in exploring, extracting, and processing gold and silver. The Company through its wholly owned subsidiary, Compania Minera Pena de Bernal, S.A. de C.V. (Bernal), which owns the San Martin mine in Queretaro, Mexico. It is also engaged in acquiring mining related operating assets and exploration assets in North America. Its San Martin mine is located approximately 50 kilometers (km) east of the City of Queretaro, Mexico, and consists of mining concessions covering approximately 13,077 hectares (ha), which includes seven underground mining units and four units under exploration. Its Ajax Molybdenum property, approximately 1,718 hectares in size, hosts the Ajax Porphyry Molybdenum Deposit. Its Opodepe project consists of the Teocuitla and El Creston properties. Its El Creston molybdenum property is located in the State of Sonora, Mexico. Its Toiyabe Gold Project is located in Lander County, Nevada, United States.
STARCORE INTERNATIONAL MINES LTD. 