Mississauga, ON -- (ReleaseWire) -- 02/18/2014 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Starcore Soars to 52 Week High on Gold Production in Q2.”
Companies mentioned in this article include Starcore International Mines, Ltd. (TSX:SAM).
Gold plays suffered in 2013 as the precious yellow metal lost almost 30 percent; its worst annual performance in more than three decades. Although some analysts still remain relatively pessimistic about gold going forward, the metal has started 2014 strong, making gold plays steady gainers in the first seven weeks of the year.
In August, Vancouver-based Starcore International Mines, Ltd. (TSX:SAM) hit a bottom at 13.5 cents at the end of a descent that began with the stock trading as high as 45.5 cents in October 2012. As the stock was finding its low, production was picking-up at Starcore’s San Martin Mine in Queretaro, Mexico. Through its wholly-owned subsidiary, Compañia Minera Peña de Bernal, S.A. de C.V., the San Martin Mine is the principle asset of Starcore. The mine has Proven and Probable Reserves totaling 705,998 tonnes at a grade of 2.53 grams gold/tonne and 23.6 grams silver/tonne. Additionally, an Inferred Mineral Resource is estimated at 1,005,000 tonnes at an approximate grade of 2.17 grams gold/tonne and 20 grams silver/tonne. The company is planning a 5,000-metre drill program this year to build upon previous drilling that shows additional mineralization outside the immediate mine and to expand on the resources.
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