Precious Metals Review Identifies Starcore International Ventures Ltd. (SAM.V) As Undervalued in December Report That Discusses Plans For “Low Cost – High Margin” Silver Production On Flagship Property

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Precious Metals Review Co. has issued a special mining review report which identifies Starcore International Ventures Ltd. (TSX-V:SAM) as significantly undervalued.

Precious Metals Review Co. (The “Company”) has issued a special mining review report which identifies Starcore International Ventures (TSX-V:SAM) as significantly undervalued. The Company’s financial journalist report contributed by Madison Avenue Research to PreciousMetalsReview.com may be viewed in it’s entirety at the Company’s web site; at the following URL: http://preciousmetalsreview.com/pmrdec04.pdf

Starcore International Ventures Ltd. has a HIGH PROBABILITY to multiply its market capitalization several times it’s current value due in part to the exceptional opportunity afforded the Company from the aforementioned deal it has with Wheaton River Minerals Ltd. and Starcore’s plan to mine the El Transito property for substantial returns and further explore the property.

Starcore’s El Transito Deposit Mine Project has an established ore reserve and appears amenable for low-cost, fast track production. In excess of $2.4 USD million was previously invested in exploration and development on this location. The numbers below are derived from historical data taken from the 1988 Pincock, Allen, & Holt prefeasibility study which is not CSA NI-43-101 compliant as it predates new rules, however it gives us great insight from with which to extrapolate: Of the mineral resource base of 552769 tonnes grading 11.2 oz/tonne silver, 2.6% lead, and 5.3% zinc, a large portion appears to be amenable to open pit mining methods. Starcore’s arrangement now is to produce a 300 Tonne per/day mill and mine it for substantial returns with a large portion of the cash flow proceeds from the mine to be used to finance additional exploration in the area.

The 1988 study on the property indicates Starcore could possibly expand the resource base to 3 - 5 million tonne of comparable grade. Madison Avenue Research Group projects $169.37 per Tonne revenue at current market rates and a profit of $129.37 per Tonne Gross (before NSR, Wheaton River, and Tax). At 300 Tonnes per day at full capacity this will give Starcore 9000 Tonnes a month; $1,164,330 per month of after-production-cost cash flow from this mine alone to be used towards 1) repayment of capital costs associated with set-up of processing plant at mine (estimated recuperation time of 3 months) 2) financing of additional exploration in the area as discussed above, and 3) possible dividends to shareholders.

Starcore is agile and able to handle viable projects that lack the economies of scale required by many major players, when you hear “Starcore” you should think “nimble low-cost producer”. Mexico is synonymous with many successful silver ventures; Gammon Lake Resources Inc. (GRS:AMEX), Silver Standard Resources Inc. (SSRI:NASDAQ), Admiral Bay Resources Inc. (ADB:TSX-V)… Starcore joins this list considering the importance of it’s metallurgical target area.

See the report in its entirety, along with terms of use at http://preciousmetalsreview.com/pmrdec04.pdf.

Disclaimer, Disclosure, & Terms of Use: This is a journalistic article and the author is not a registered securities advisor, opinions expressed should not be considered as investment advice to buy or sell securities, but rather opinion. See the report in its entirety, along with full terms of use at http://preciousmetalsreview.com/pmrdec04.pdf.

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Alfred Seung

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