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Starcore shifting focus to production-oriented assets in Mexico

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Starcore shifting focus to production-oriented assets in Mexico

Starcore International Mines Ltd. said March 26 that it plans narrows its focus on its production-oriented projects in Mexico via the disposal of certain noncore properties.

In line with this strategy, the company will sell the El Creston molybdenum deposit in Sonora, Mexico; the Lone Ranch gold exploration project in Washington state; and the Ajax molybdenum deposit in British Columbia.

Starcore will also seek a partner for its Toiyabe gold project in Nevada, or off-load the asset.

"The intended sale or joint venture of non-core assets we are announcing today will further align resources, improve efficiencies throughout our company, and prepare us for the next stage of growth," Starcore President and CEO Robert Eadie said.

Additionally, the company noted that it extended the review period for an option to acquire the Santa Fe project in Sinaloa, Mexico, for a sum of US$100,000.