Starcore International Mines (TSX:SAM) reports the third quarter ending 31 January 2026 represents a return to full production at the San Martin Mine in Mexico.
During Q3, Starcore produced 2,162 equivalent-gold ounces, at a mine operating cash cost of US$2,394 ($3,387) per ounce and an all-in sustaining cost of US$3,554 per ounce.
CEO Robert Eadie says this is reflected in improved earnings from mining operations of C$6.2 million and C$10.4 million over the entire period, with positive cashflow of more than C$8.4 million.
“With the finalisation of the equipment installations to process the higher grade carbonaceous ore, we expect further increase in monthly metal production going forward,” Eadie says.
This news comes amid gold’s price being pushed higher following the renewed safe haven demand after US and Israel’s attacks on Iran sharply escalated tensions in the Middle East.
At the time of writing, gold’s price surged past US$5,301 an ounce. Over the past month, the precious metals’ price increased 7.22% and is up 83.46% compared to the same time last year, as reported by Trading Economics.
Starcore International Mines is engaged in precious metal production with a focus on Mexico. The company’s base producing assets include the San Martin Mine and the La Tortilla Silver Mine – both located in the state of Queretaro, Mexico.
Write to Aaliyah Rogan at Mining.com.au
Images: Starcore International Mines
