12:08 PM EDT, 07/30/2024 (MT Newswires) -- Starcore International Mines ( SHVLF ) on Tuesday said it swung to a profit in its fiscal fourth quarter.

The company reported income of $4.5 million, or $0.06 per share, in the quarter ended April 30, improving from a loss of $963,000, or $0.02.

Revenue jumped to $9.3 million from $5.2 million as gold equivalent production increased to 3,200 ounces from 2,400 ounces.

"Our mining operations at San Martin reported healthy profits from mining operations in this period due to improved grades and, of course, metal prices," chief executive Robert Eadie said. "We continue to invest in San Martin and other projects in Mexico to complement our operations and build shareholder value."

The company's shares were last seen up $0.015 to $0.10 on the Toronto Stock Exchange.

Price: 0.10, Change: +0.02, Percent Change: +17.65