February 2, 2012
Starcore Repays US$3.2 Million Debt One Year Ahead of Schedule
- Further to its press releases of January 24th and January 31st, 2012, Starcore International Mines Ltd.
(the “Company”) announces that it has repaid its outstanding loan with
Investec Bank (U.K.) Limited (“Investec”) of approximately US$3.2
million, which funds were used to acquire the San Martin Mine in
“This is a huge milestone for Starcore,” said Robert Eadie, President
& CEO of the Company. “The Company is now debt free. We are
aggressively continuing with our exploration and development program to
keep increasing our reserves at San Martin Mine, as we are eager to
reward our shareholders for their patience and support over the last
The Company is still obligated under the Investec Loan agreement for
forward sales contracts for the sale of 14,513 ounces of gold at a price
of US$731 per ounce until January 31, 2013.
For more information on the Company visit our website at www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
Signed “Robert Eadie”
Robert Eadie, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936
The Toronto Stock Exchange has not reviewed nor does
it accept responsibility for the adequacy or accuracy of this press
Back to the main News page, or press the Back button on your browser.