Starcore International Mines (TSX:SAM) has reported a first-quarter profit of C$927,000 ($1 million) from its gold and silver mining operations in Queretaro, Mexico, overcoming what the company described as ‘early operational issues’.
Gold and silver sales were C$8.7 million for the three months ending 31 July 2025, with income from mining operations of C$1.9 million.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at C$1.3 million.
“Although we faced some operational and recovery challenges this quarter, we are confident that the adjustments we’ve made have resolved the issues and production will continue as projected,” CEO Robert Eadie said.
Starcore ended the quarter with C$900,000 in cash and C$1.6 million in working capital.
The company reported production of 2,130 equivalent gold ounces, with all-in sustaining costs of US$3,081 per ounce and a mine operating cash cost of US$2,499 per ounce.
Starcore operates the San Martin Mine in Mexico and also holds exploration projects across North America and the Ivory Coast.
Write to Dan Petrie at Mining.com.au
Images: Starcore
