Starcore International Mines (TSX:SAM) is expecting to improve recoveries and return to “robust” mining and plant operations in the January 2026 quarter at its San Martin Mine in Mexico.
This news comes after Starcore released its October 2025 quarter production results from San Martin.
At San Martin 1,860 ounces of gold-equivalent was produced at a mine operating cash cost of US$2,625 ($3,951) per equivalent-ounce and an all-in sustaining cost of US$3,537 per equivalent-ounce for the six months ended 31 October 2025.
During the quarter, the company achieved US$10.7 million in gold and silver sales.
According to Trading Economics, gold prices climbed 1% to around US$4,340 per ounce at the start of this week, approaching an all-time high. The price jump is supported by expectations of more US interest rate cuts.
Over the past month, the precious metals’ price has increased 7.22% and is up 63.62% compared to the same time last year.
Silver’s price climbed above US$63 per ounce earlier this week, setting a new record high and representing a 120% increase year-to-date. Over the past month, silver’s price has risen 26.59% and is up 108.34% compared to the same time last year, as reported by Trading Economics.
As of 31 October 2025, Starcore had US$9.8 million cash at hand, as well as US$7 million in working capital.
In the first fiscal quarter ended October 2025, San Martin produced 51,960 tonnes at grades of 1.33 grams per tonne gold and 14.48g/t silver with an overall recovery of 77.17% gold and 49.30% silver, as previously reported.
In the previous quarter, San Martin produced 54,247 tonnes at grades of 1.47g/t gold and 12.88g/t silver.
During this period, Starcore’s metal production was lower due to a preg-robbing effect and fine particles of activated carbon mixed with the pulp sent to the desorption process.
CEO Robert Eadie says over the past quarter, the production issues are being addressed with modifications to the plant process.
Starcore International Mines is a precious metals producer with focus and experience in Mexico.
Write to Aaliyah Rogan at Mining.com.au
Images: Starcore International Mines
