# Starcore Reports Second Quarter Production Results Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/starcore-reports-second-quarter-production-results--9deca13a-7ebe-4352-96f5-cbdf1a38c2c5 Original source: https://money.tmx.com/en/quote/SAM/news/5029941682500610/starcore-reports-second-quarter-production-results Publisher: tmx Original announcement: 2025-11-19T07:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Starcore International Mines Ltd. - Ticker: SAM - Exchange: TSX - Region: Queretaro, Mexico - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Metallurgy, Production - Extracted: 2026-09-12 23:10:21 UTC Narrative sentiment: -0.60 · Bearish ## Minestarters Atlas summary Starcore reported Q2 2026 production results for the San Martin Mine, noting lower metal production and recovery rates. The decline was attributed to preg-robbing clay in the ore and carbon fines in the ADR process, which the company is addressing through plant optimization and new equipment installation. Reasoning: Production results show a decline in gold and silver recovery and grade due to metallurgical challenges \(preg-robbing clay and carbon fines\), though management is implementing technical fixes. - Positive factor: installation of filter presses to mitigate carbon fines - Positive factor: optimization of CIL plant - Positive factor: installation of cyanide destruction module - Negative factor: lower metal production due to preg-robbing clay - Negative factor: gold recovery decline - Negative factor: silver recovery decline - Negative factor: carbon fines issues in ADR process Facts used in scoring: 2 ## Classification and evidence **Refractory Ore** Polarity: negative Story-specific tag Definition: Ore requires oxidation/pressure treatment before recovery — a processing and recovery risk. Why it applies: The company explicitly mentions 'preg-robbing' effect caused by clay, which traps gold and reduces recovery. Evidence · text > presence of clay in the ore, which caused what's known as a "preg-robbing" effect **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release names a Qualified Person \(Salvador García\) responsible for the technical information. Evidence · text > Salvador García, a director of the Company and Chief Operating Officer, is the Company's qualified person **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("CIL"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Metallurgical Results (2) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/starcore-reports-second-quarter-production-results--9deca13a-7ebe-4352-96f5-cbdf1a38c2c5#fact-metallurgical-facts-0) San Martin · gold #### Identity - Project: San Martin - Commodity: gold - Region: mexico - Reported Region: Queretaro, Mexico - Ticker: SAM #### Test Work - Program Status: optimization - Processing Route: CIL - Sample: San Martin Production Q2 2026 #### Recovery - Recovery: 77.17 % - Recovery Basis: actual\_test - Head Grade: 1.33 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-19T00:00:00.000Z Reasoning: Gold grade and recovery are lower than previous periods due to identified metallurgical issues. - Negative factor: lower recovery due to preg-robbing clay and carbon fines Evidence · table > 1.33 Context: 51,960 #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 77.17% is below the weak band \(80%\) ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/starcore-reports-second-quarter-production-results--9deca13a-7ebe-4352-96f5-cbdf1a38c2c5#fact-metallurgical-facts-1) San Martin · silver #### Identity - Project: San Martin - Commodity: silver - Region: mexico - Reported Region: Queretaro, Mexico - Ticker: SAM #### Test Work - Program Status: optimization - Processing Route: CIL - Sample: San Martin Production Q2 2026 #### Recovery - Recovery: 49.3 % - Recovery Basis: actual\_test - Head Grade: 14.48 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-19T00:00:00.000Z Reasoning: Silver recovery declined compared to Q1 2026. - Negative factor: lower silver recovery Evidence · table > 14.48 Context: 51,960 #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 49.3% is below the weak band \(75%\) ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.