Starcore International Mines (TSX:SAM) has secured approval for a plan or arrangement with its wholly owned subsidiary EU Gold Mining, regarding the spin-out of its mineral properties located in Africa.
In July 2025, Starcore entered into the deal to assign its rights, titles, and interests over the 1,393km2 of landholding to EU Gold Mining – which will advance exploration efforts at the Côte d’Ivoire projects.
EU Gold, which is seeking a separate listing in Canada, will focus on developing the mineral properties. As a result of the spin-out, both companies will operate as separate and independent entities.
As part of the deal, Starcore shareholders will be issued one common EU Gold share for every two Starcore shares owned.
CEO Robert Eadie says by spinning out the properties to EU Gold, Starcore has undergone a corporate restructuring enabling it to focus on the Mexican project portfolio.
The company’s project portfolio located in Mexico includes the producing San Martin Mine and La Tortilla Silver Mine.
As previously reported, Starcore expects to improve recoveries and return to “robust” mining and plant operations during Q1 2026 at the San Martin Mine.
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.
Write to Aaliyah Rogan at Mining.com.au
Images: Starcore International Mines
