Starcore Reports Third Quarter Earnings of $4.2 Million and $10.8 Million for the Nine Months Ended April 30, 2012
Starcore International Mines Ltd. has filed the results for the quarter and nine months ended April 30, 2012, for the Company and its mining operations. Over the third quarter ended April 30, 2012, the Company is pleased to report revenues of $14.0 million, earnings from mining operations of $5.0 million and earnings for the period of $4.17 million, which includes a net $1.93 million gain in financing costs due to gains in the Company’s gold forward sales contracts. The basic and diluted income per share for the quarter ended April 30, 2012 was $0.03. Over the nine months ended April 30, 2012, the Company reports revenues of $49.4 million, earnings from mining operations of $17.8 million and earnings for the period of $10.8 million, which includes a net $1.95 million loss in financing costs due to net losses in gold forward sales contracts over the period. The basic and diluted income per share for the nine month period ended April 30, 2012 was $0.09 and $0.08, respectively.
