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View FS - Starcore International Mines Ltd.

View FS - Starcore International Mines Ltd.

Starcore International Mines Ltd. Interim Consolidated Balance Sheets (in thousands of Canadian dollars) (Unaudited) January 31, July 31, 2009 2008 Assets Current Cash and cash equivalents (notes 3 and 13) $ 1,848 $ 2,890 Amounts receivable (note 4) 1,788 2,664 Inventory (note 5) 1,301 1,517 Prepaid expenses and advances 1,047 1,090 5,984 8,161 Mining interest, plant and equipment (note 6) 46,107 38,294 Mineral properties and deferred exploration costs (note 7) 806 806 Liabilities $ 52,897 $ 47,261 Current Accounts payable and accrued liabilities $ 2,538 $ 4,953 Current portion of loan payable (note 8) 3,156 2,173 5,694 7,126 Loan payable (notes 8, and 13) 5,979 6,304 Reclamation and closure cost obligations (note 9) 1,853 1,708 Other long-term liabilities (note 10) 2,780 2,190 Future income taxes 9,388 7,674 Shareholders’ Equity 25,694 25,002 Share capital (note 11) 33,318 33,318 Contributed surplus (note 11) 3,768 3,985 Warrants (notes 8 and 11) 6,202 6,202 Accumulated other comprehensive income (loss) 2,542 (2,750) Deficit (18,627) (18,496) Commitments (notes 7, 8, 9, 10, 11, and 13) Segmented information (note 14) Nature of Operation and Going Concern (note 1) Approved by the Directors: 27,203 22,259 $ 52,897 $ 47,261 “Robert Eadie” Director “Gary Arca” Director The accompanying notes form an integral part of these financial statements. 2

Starcore International Mines Ltd. Interim Consolidated Statements of Operations and Other Comprehensive Income (Loss) (in thousands of Canadian dollars except per share amounts) (Unaudited) For the three months ended January 31, For the six months ended January 31, 2009 2008 2009 2008 Revenues (note 12) Mined ore $ 4,906 $ 3,054 $ 9,277 $ 8,095 Purchased concentrate 434 2,170 2,692 4,754 5,340 5,224 11,969 12,849 Cost of Sales Mined Ore (note 11(d)) 3,028 2,611 5,949 5,078 Purchased concentrate 428 2,126 2,537 4,666 Reclamation and closure (note 9) 20 10 39 32 Amortization and depletion 654 429 1,275 1,083 4,130 5,176 9,800 10,859 Earnings from mining operations 1,210 48 2,169 1,990 Administrative Expenses Amortization 13 9 29 19 Stock-based compensation (note 11(d)) (112) 95 (99) 1,012 Interest on long-term debt (note 8) 169 182 315 420 Accretion on long-term debt (note 8) 57 37 109 77 Professional and consulting fees 16 194 122 288 Management fees and salary 103 313 180 449 Office, travel and administration 96 438 171 669 Shareholder relations 130 96 233 258 Transfer agent and regulatory fees 2 - 8 15 474 1,364 1,068 3,207 Income before other income and income taxes 736 (1,316) 1,101 (1,217) Other income Foreign exchange (732) (420) (980) (300) Investment and interest income 49 31 94 78 Income before income taxes 53 (1,705) 215 (1,439) Foreign taxes recovery (expense) - 378 - (49) Future income tax (75) (164) (346) (642) Net loss for the period (22) (1,491) (131) (2,130) Other Comprehensive income (loss): Foreign currency translation adjustment 523 838 5,292 (1,348) Comprehensive income (loss) for the period $ 501 $ (653) $ 5,161 $ (3,478) Basic and diluted loss per share $ (0.00) $ (0.02) $ (0.00) $ (0.04) Weighted average number of shares outstanding 60,690,789 60,677,746 60,690,789 60,677,746 The accompanying notes form an integral part of these financial statements. 3

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Disclaimer - Starcore International Mines Ltd.
Disclaimer Disclaimer - Starcore International Mines Ltd.
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