Starcore International Mines Ltd. announced that it has repaid outstanding secured bonds in the aggregate principal amount of CAD 4.5 million. The Bonds were to mature on May 12, 2017. As provided for by the terms of the Bonds, Starcore elected an early repayment of the Bonds, with total payout of CAD 4,678,520.55, which included interest in the amount of CAD 178,520.55. After this Bond repayment, the company has an approximate cash balance of CAD 10.1 million, or CAD 0.2055 per share, due largely to the recent closing of the sale of the San Pedrito real estate asset.

The company also reports that David Gunning has resigned as a director and Chief Operating Officer of the Company. Ralf Kleine, who has been involved in Starcore's San Martin Mine operations since 2010, assumes the position of Interim COO. Kleine has served as technical consultant at the mine, as well as having assumed the position of President of Starcore in 2010 and 2011.