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Starcore

Gold producer, with a project stated to be in Mexico.

NoneMexico — as stated on the recordings

producer gold NoneMexico
Dec 2025 → Jul 2026Covered
9 of 10Topics on record
6Figures tracked over time
1 executiveNamed on the record
Stage
Producer
Primary commodity
Gold
Jurisdiction
Mexico
Deposit
historical silver mine
Latest appearance
04 Jul 2026
On record
3 interviews · 50 statements · 1 executive

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
San Martin mine is 12,992 hectares; Starcore occupies about 11%
Management-stated Robert Eadie Jan 2026
Grade
about four 550 g per ton, with samples well in excess of 2,400 g per ton
Management-stated Robert Eadie Jul 2026
Money on hand
10 million in the bank
Stated capital need: at least a million dollars
Management-stated Robert Eadie Jul 2026
What happens next
18 to 24 months
Management-stated Robert Eadie Jul 2026
The main open question
The main limitation is lack of independent verification—no outside investor has reviewed Starcore's claims.
Weighed from the statements below, not our opinion of the company.
Our reading

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

Cash position approximately 1.5 million10 million ● Higher 2 statements on record
11 Dec 2025
approximately 1.5 million dollars per month in revenue
“I tell you where we're at now is roughly say um a million and a half uh dollars a month in revenue.”
04 Jul 2026
10 million in the bank
“our budget is at least a million dollars which we have 10 million in the bank”
Grade ● Broadly unchanged 3 statements on record
11 Dec 2025
550 grams per ton at La Tortilla
“La Tartia is a primarily a silver mine and it's a historical mine. So, we do have an average grade of 550 grams per ton”
04 Jul 2026
about four 550 g per ton, with samples well in excess of 2,400 g per ton
“we're counting a grade an average grade of about four 550 g per ton, but we have um samples well in excess of 2,400 g per ton”
Resource size about 800 ozabout 70,000 oz ≠ Different basis One statement qualifies the figure and the other does not (combined, copper, drilling) 4 statements on record
11 Dec 2025
about 800 ounces a month combined gold and silver production currently
“So we do it combined. So you'd say about 800 ounces a month.”
21 Jan 2026
Alcrestón: about 70,000 ounces of drilling; molybdenum deposit with copper porphyry potential
“It has about 70,000 ounces of drilling.”
Operating cost ≠ Different measure Stated in money, then in ounces — not the same quantity 4 statements on record
11 Dec 2025
roughly 1.5 million dollars a month in revenue
“I tell you where we're at now is roughly say um a million and a half uh dollars a month in revenue.”
21 Jan 2026
currently produce 900-1000 ounces per month blend of gold and silver
“and that allows us to produce uh anywhere between say 9 8 900 and 1,000 ounces per month of a blend of gold and silver.”
Capital needed ? Wording changed One statement carries no figure to compare 3 statements on record
21 Jan 2026
no debt on property or company; no forward sales
“we don't have any debt related to the property or the company. Uh we don't have any forward sales.”
04 Jul 2026
at least a million dollars
“our budget is at least a million dollars which we have 10 million in the bank”
Permitting ? Wording changed No comparable date in one of the two statements 3 statements on record
11 Dec 2025
operating mine at La Tortilla with permits, having to permit to move rock to mine it but not process it there
“We're an operating mine at La Tortia. We're uh having to permit. And that's just to move rock to mine the rock, but not actually process it there.”
04 Jul 2026
social permit obtained, environmental permit expected in 60-90 days
“we obtained that last month. And that really makes a big difference with the government is what is your social impact”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Starcore's own claims across 3 interviews — most-covered theme first.

What outside voices pick up on

No independent commentary on record yet — so far the page carries only the company's own voice.

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says Starcore has a 19-year operating track record at San Martin, producing 800–1,000 ounces per month of gold and silver, with $10 million in cash and no debt.

What it rests on
Evidence: 3 moments from 2 interviews
Read the full case

Management says Starcore has a 19-year operating track record at San Martin, producing 800–1,000 ounces per month of gold and silver, with $10 million in cash and no debt. For La Tortilla, a historical silver mine 2 hours away, management obtained a social permit and expects the environmental permit in 60–90 days, positioning the company to ship ore within 3–4 months once approved and double current processing capacity to 150 tons per day of ore grading 550 g/ton silver.

▼ Bear case

The main limitation is lack of independent verification—no outside investor has reviewed Starcore's claims.

What it rests on
Evidence: 3 moments from 2 interviews
Read the full case

The main limitation is lack of independent verification—no outside investor has reviewed Starcore's claims. Management discloses technical risk: carbonaceous ore processing is still ramping from 75 to 150 tons per day, and a water-recycling issue occurred last quarter, raising questions about operational reliability before scaling La Tortilla. Capital needs are understated: $20 million was required to expand San Martin to 100,000 oz/year, yet only $10 million is in the bank for La Tortilla's ramp-up, and the company has not yet shipped bulk samples to prove metallurgy at scale.

◆ Watch next

Environmental permit decision for La Tortilla (expected 60–90 days from management's statement).

What it rests on
Evidence: 2 moments from 2 interviews
Read the full case

Environmental permit decision for La Tortilla (expected 60–90 days from management's statement). Bulk sample shipment (management says "couple of months"). Ramp to 150 tons/day processing and proof of sustainable 550 g/ton recovery. Evidence of whether carbonaceous ore processing scales reliably and water management is solved. Production target of 1,000 ounces by January to be confirmed.

Each moment links to the exact point in the source recording.

Not our view. These cases are assembled from what was said in the interviews below — management's own claims, and the sentiment of independent speakers as expressed in those transcripts. They are a summary of statements on the record, not TranscriptAgent's assessment of the company, not a rating or price target, and not investment advice.

Project 24 statements

The deposit 13

Key takeaway. Management describes the deposit as a historical silver mine that also produces gold and silver, with La Tortilla being primarily a silver mine with an average grade of about 550 grams per ton of silver and samples well in excess of 2,400…

Read the full summary

grams per ton (Jul 2026, Jan 2026, Dec 2025). The company reports that the Alcrestón area contains about 70,000 ounces of drilling and is a molybdenum deposit with copper porphyry potential, while calling the overall deposit a large epithemial deposit (Jan 2026). The mining operation has run for 45 years, and management says there are 15 years remaining if modeled conservatively, with current combined gold and silver production of about 800 ounces a month (Dec 2025). Starcore occupies about 11% of the 12,992-hectare San Martin mine property (Jan 2026, Jul 2026, Dec 2025).

What was actually said
deposit type
historical silver mine
“La Tortilla is a historical silver mine.”
Robert Eadie· 04 Jul 2026·
exploration upside
12,992 hectares
“we haven't explored the property, which is 12,992 hectares”
Robert Eadie· 04 Jul 2026·
grade
about four 550 g per ton, with samples well in excess of 2,400 g per ton
“we're counting a grade an average grade of about four 550 g per ton, but we have um samples well in excess of 2,400 g per ton”
Robert Eadie· 04 Jul 2026·
Show the other 10 statements
deposit type
large epithemial deposit
“It's a large um epithemial deposit and we have not been able to solve the mystery as the source as of yet.”
Robert Eadie· 21 Jan 2026·
exploration upside
mine operated for 45 years, 15 years remaining if modeled conservatively
“On the low side, the mine operated for 45 years. So, we still have 15 years if that be the case.”
Robert Eadie· 21 Jan 2026·
grade
La Tortilla: 550 grams average per ton of silver
“what we think the throughput through the mill will be 550 g average per ton of silver.”
Robert Eadie· 21 Jan 2026·
resource size
San Martin mine is 12,992 hectares; Starcore occupies about 11%
“The San Martin mine is 12,992 hectares which we occupy about 11%.”
Robert Eadie· 21 Jan 2026·
resource size
Alcrestón: about 70,000 ounces of drilling; molybdenum deposit with copper porphyry potential
“It has about 70,000 ounces of drilling.”
Robert Eadie· 21 Jan 2026·
deposit type
gold and silver
“there we produce gold and silver.”
Robert Eadie· 11 Dec 2025·
deposit type
La Tortilla is primarily a silver mine and historical mine
“La Tartia is a primarily a silver mine and it's a historical mine.”
Robert Eadie· 11 Dec 2025·
grade
550 grams per ton at La Tortilla
“La Tartia is a primarily a silver mine and it's a historical mine. So, we do have an average grade of 550 grams per ton”
Robert Eadie· 11 Dec 2025·
resource size
about 800 ounces a month combined gold and silver production currently
“So we do it combined. So you'd say about 800 ounces a month.”
Robert Eadie· 11 Dec 2025·
resource size
12,992 hectares
“It's a large project being 12,992 hectares.”
Robert Eadie· 11 Dec 2025·

Jurisdiction 8

Key takeaway. Starcore's management highlights a long-established presence in Mexico, describing the company as centrally located about three hours north of Mexico City (Jan 2026) and noting a 19-year track record at its San Martin operation (Jan 2026).

Read the full summary

On permitting, management reports that San Martin is fully permitted with 11 years of environmental permits remaining (Jan 2026), while at La Tortilla the company has an operating mine with permits but needs additional permitting to move rock to process it elsewhere rather than on site (Dec 2025). More recently, management stated that a social permit has been obtained and an environmental permit is expected within 60–90 days (Jul 2026), supported by a 10-year social license (Jul 2026) and a recent community meeting with La Tortilla (Jan 2026).

What was actually said
community agreement
10-year social license
“La Tortilla is 2 hours away from the mine uh from our operating mine. And what that does for us is that it allows us to use the infrastructure”
Robert Eadie· 04 Jul 2026·
permit status
social permit obtained, environmental permit expected in 60-90 days
“we obtained that last month. And that really makes a big difference with the government is what is your social impact”
Robert Eadie· 04 Jul 2026·
community agreement
recent community meeting with La Tortilla; 19-year track record at San Martin
“Um we just met with the local community which now is a requirement in Mexico.”
Robert Eadie· 21 Jan 2026·
Show the other 5 statements
country
Mexico
“We produce gold and silver from the San Martin mine which is centrally located about 3 hours north of Mexico City.”
Robert Eadie· 21 Jan 2026·
permit status
San Martin: fully permitted with 11 years remaining environmental permits
“we have another 11 years uh in environmental permits.”
Robert Eadie· 21 Jan 2026·
region
centrally located about 3 hours north of Mexico City
“We produce gold and silver from the San Martin mine which is centrally located about 3 hours north of Mexico City.”
Robert Eadie· 21 Jan 2026·
country
Mexico
“Our operations uh our primary operations are in a place called um Pena de Brunell which is about 3 hours north of Mexico City”
Robert Eadie· 11 Dec 2025·
permit status
operating mine at La Tortilla with permits, having to permit to move rock to mine it but not process it there
“We're an operating mine at La Tortia. We're uh having to permit. And that's just to move rock to mine the rock, but not actually process it there.”
Robert Eadie· 11 Dec 2025·

Technical risk 3

Key takeaway. Management has acknowledged two technical risks.

Read the full summary

First, carbonaceous ore deposits require different processing; the company is currently treating that ore at about 75 tons per day and aims to double that rate (July 2026). Second, there are water management issues involving recycled versus fresh water (January 2026). Separately, management reports using dry stack tailings with no tailings dam, where cyanide is destroyed and water is recycled or made benign (January 2026).

What was actually said
metallurgy
treating carbonaceous ore at about 75 tons per day, goal is double that
“We're at about 75 tons per day and the goal is double that but we're slowly moving that up”
Robert Eadie· 04 Jul 2026·
metallurgy
dry stack tailings with no tailings dam; cyanide destroyed and water recycled or made benign
“We don't have a tailings dam or a pond. We don't have liquid. We extract the liquid from the material uh after it comes to waste and we recycle or destroy the cyanide in the process.”
Robert Eadie· 21 Jan 2026·
stated risk
carbon ore deposits require different processing; water management issues with recycled vs fresh water
“We tried to bring it on. We did have a problem last quarter where that the the water got mixed up with recycled water where we needed fresh water and so that's why it caused us some production problems.”
Robert Eadie· 21 Jan 2026·

Economics 10 statements

Economics 5

Key takeaway. Management points to low production and startup costs at La Tortilla, citing existing infrastructure (Jan 2026).

Read the full summary

The company reports it currently produces a blend of 900–1000 ounces of gold and silver per month, processing 625 tons per day with capacity to reach 1,000 tons per day (Jan 2026). In a separate statement, management said revenue is roughly $1.5 million a month and projected cash flow of $180 million over 18 to 24 months (Dec 2025).

What was actually said
operating cost
currently process 625 tons per day; can process up to 1000 tons per day capacity
“We have the capacity of about a thousand tons per day. We currently use about 625 tons per day uh of throughput in the mill”
Robert Eadie· 21 Jan 2026·
operating cost
low cost of production and startup for La Tortilla due to existing infrastructure
“Now what that allows Steve is a low cost of production and startup.”
Robert Eadie· 21 Jan 2026·
operating cost
currently produce 900-1000 ounces per month blend of gold and silver
“and that allows us to produce uh anywhere between say 9 8 900 and 1,000 ounces per month of a blend of gold and silver.”
Robert Eadie· 21 Jan 2026·
Show the other 2 statements
npv
180 million in 18 to 24 months projected cash flow
“I'm looking to grow the company to the cash flow to be about 180 million in 18 to 24 months.”
Robert Eadie· 11 Dec 2025·
operating cost
roughly 1.5 million dollars a month in revenue
“I tell you where we're at now is roughly say um a million and a half uh dollars a month in revenue.”
Robert Eadie· 11 Dec 2025·

Financing 5

Key takeaway. Management reports that as of December 2025 the company was generating approximately $1.5 million per month in revenue, and by July 2026 had $10 million in the bank with no debt or forward sales on the property or company.

Read the full summary

However, the capital needed has shifted: in January 2026, the CEO stated $20 million would be required to expand San Martin to a 100,000-ounce-per-year producer, but by July 2026 management said at least a million dollars was needed — a much smaller figure that appears to refer to near-term requirements rather than the expansion.

What was actually said
capital needed
at least a million dollars
“our budget is at least a million dollars which we have 10 million in the bank”
Robert Eadie· 04 Jul 2026·
cash position
10 million in the bank
“our budget is at least a million dollars which we have 10 million in the bank”
Robert Eadie· 04 Jul 2026·
capital needed
no debt on property or company; no forward sales
“we don't have any debt related to the property or the company. Uh we don't have any forward sales.”
Robert Eadie· 21 Jan 2026·
Show the other 2 statements
capital needed
$20 million to expand San Martin to 100,000 ounce producer per year
“San Martin we unlocked the source of the gold and we needed to invest 20 million to make it you know 100,000 ounce producer per year”
Robert Eadie· 21 Jan 2026·
cash position
approximately 1.5 million dollars per month in revenue
“I tell you where we're at now is roughly say um a million and a half uh dollars a month in revenue.”
Robert Eadie· 11 Dec 2025·

Timeline 6 statements

Timeline 6

Key takeaway. Management described a multi-stage timeline for the La Tortilla project.

Read the full summary

The company reports that it filed with the environmental agency last October and obtained community approval in January 2026; once the permit is received, it expects to start shipping ore within 90 to 120 days. Separately, management noted that bulk samples should ship "in another couple of months" as of January 2026, and that the lease and purchase agreement on the property was signed "a couple months ago" as of December 2025. Looking to near-term production, the company said in December 2025 that forward-looking output was expected to reach about a thousand ounces in January.

What was actually said
milestone
18 to 24 months
“the term I gave was 18 to 24 months. And so, we're probably 4 months into the 18 to 24 months to get everything accomplished”
Robert Eadie· 04 Jul 2026·
milestone
3 months, 90 days, 120 days once the permit is received to start shipping ore
“everything is in place to start shipping or relatively quickly, meaning 3 months, 90 days, 120 days once the permit's received”
Robert Eadie· 04 Jul 2026·
milestone
bulk samples shipping in another couple of months
“We're talking, you know, another couple of months and we hope to be shipping some bulk samples.”
Robert Eadie· 21 Jan 2026·
Show the other 3 statements
permit timing
La Tortilla: filings started with environmental agency last year (October); community approval obtained
“late last year October and then we started with our filings with the environmental agency in Mexico.”
Robert Eadie· 21 Jan 2026·
milestone
recently signed lease and purchase agreement on La Tortilla a couple months ago
“being a couple of months ago, we just signed a lease to per a lease and a purchase agreement on a silver project called Laortia.”
Robert Eadie· 11 Dec 2025·
milestone
forward-looking production to come up to about a thousand ounces in January
“forward-looking statement [snorts] that should come up to about a thousand in January.”
Robert Eadie· 11 Dec 2025·

Corporate 10 statements

Management 5

Key takeaway. Management points to a strong operating track record: the company says it has been producing gold and silver for 20 years (as of July 2026), with the San Martin mine itself operated for 19 years (January 2026) or 20 years (December 2025,…

Read the full summary

counting from when it was purchased from Gold Corp). The CEO also highlights team experience, noting that 270 people work at the mine, most of them engineers, and that general manager/COO Salvador Garcia is a career engineer originally trained by Gold Corp. Management further emphasizes workforce longevity, reporting that many staff have tenures of 15–20 years at San Martin.

What was actually said
track record
been producing gold and silver for 20 years
“we've been producing gold and silver for 20 years in January so almost there”
Robert Eadie· 04 Jul 2026·
track record
19 years of operations at San Martin; long-serving staff with 15-20 year tenure
“the mine's been in production for uh 20 plus 26 years, 19 years under us.”
Robert Eadie· 21 Jan 2026·
team experience
Salvador Garcia as general manager/COO, career engineer trained by Gold Corp
“We also have a general manager, a COO named Salvador Garcia who's a career engineer. Spent his entire life uh in Mexico mining trained by Gold Corp”
Robert Eadie· 11 Dec 2025·
Show the other 2 statements
team experience
270 people working at the mine, majority are engineers
“We have 270 people working. the majority uh engineers, majority, there's very few people that are um unskilled workers”
Robert Eadie· 11 Dec 2025·
track record
20 years operating San Martin mine since January 19 years ago purchased from Gold Corp
“And over the last 19 years, we bought it 19 years ago in January from Gold Corp.”
Robert Eadie· 11 Dec 2025·

Share structure 4

Key takeaway. As of December 2025, management reports about 89.9 million shares outstanding and roughly 103 million fully diluted.

Read the full summary

The CEO has noted that insider ownership is strong—he is himself a large investor (January 2026). On the warrant side, the company has approximately 13 million warrants in total: 3 million at 25 cents and 10 million at 35 cents (December 2025).

What was actually said
insider ownership
CEO is a large investor himself
“mostly they are my own personal views as being the CEO of the company but also a large investor myself.”
Robert Eadie· 21 Jan 2026·
shares outstanding
89,863,000
“the outstanding right now is 89,863,000. Call it 90 million.”
Robert Eadie· 11 Dec 2025·
shares outstanding
103 million fully diluted
“So fully diluted, it's 103.”
Robert Eadie· 11 Dec 2025·
Show the other 1 statement
warrants
13 million total: 3 million at 25 cents, 10 million at 35 cents
“the warrants outstanding are 13 million. So fully diluted, it's 103. there's a few or 3 million at 25 to someone very friendly and there's 10 million at 35”
Robert Eadie· 11 Dec 2025·

Market 1

What was actually said
timing rationale
current gold price over $4,000 and silver at about $60
“there's an element of luck with everything. Well, it seems like you got the wind behind your sales with over $4,000 gold right now and uh it looks like $60 silver right now.”
Robert Eadie· 11 Dec 2025·

Sources 3 interviews

Every interview 3

DateChannelInterviewStatements
04 Jul 2026 Natural Resource Stocks Starcore CEO Answers The $5 Share Question And The Weakness Investors Keep Missing 11
21 Jan 2026 Natural Resource Stocks Restart Timeline Revealed: Starcore’s Path From Samples To Production 20
11 Dec 2025 Natural Resource Stocks Starcore CEO Robert Eadie On Growing A Mexican Gold And Silver Producer 19

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

silver 2
starcore international mines 2
la tortilla 2
el creston 2
gold 2
starcore international mines (tsx: sam) 1
ajax 1
tsx 1

Questions people ask

What is Starcore's project and where is it?

Starcore is a producer gold company, with a project stated to be in Mexico. Everything here is drawn from its executives' own interviews.

Which interviews mention Starcore?

We track 3 interviews mentioning Starcore, across 1 channel (Natural Resource Stocks).

What are investors saying about Starcore?

No independent commentary is on record yet — so far the page carries only the company's own voice.

What do recent interviews with Starcore cover?

The most-discussed topics on record are the deposit, jurisdiction, timeline, economics — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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