TSX: SAM | FSE: V4JA | US: SHVLF
Recorded on February 19, 2026
Steve Yang sits down with Starcore International Mines President & CEO Robert Eadie to unpack how a junior producer in Mexico plans to scale cash flow by stacking three revenue streams onto existing infrastructure. Eadie breaks down the San Martin Mine operating base, why carbonaceous ore processing is positioned as the near-term unlock, and how nearby feed can help keep the mill working without a massive rebuild. They dig into dry stack tailings and what “real” environmental execution looks like in day-to-day mining decisions. Robert also explains the operational culture angle most CEOs dodge—worker health systems, on-site medical support, and why that matters for productivity and retention. The conversation then moves into jurisdiction reality: security conditions on the ground in Mexico and the practical protocols operators use as precious metals cycle higher. Finally, Robert details the company’s Africa assets spin-out and capital return structure, plus how management thinks about dilution, warrants, and shareholder alignment going forward. Disclosure: Starcore is a sponsor and the host discloses personal share ownership in the interview. #Millettian
Key topics
Starcore’s three revenue streams plan and execution path
San Martin Mine operations, throughput, and production profile
Carbonaceous ore processing timeline and expected impact
Adding new feed while leveraging existing mill infrastructure
Dry stack tailings, environmental controls, and operating discipline
Mexico jurisdiction and security realities for producers
Africa assets spin-out, capital return structure, and shareholder alignment
Share structure, warrants, and funding discipline
Guest or company links
Website https://starcore.com/
Investors https://starcore.com/en/investors/
Contact https://starcore.com/en/contact/contact-us/
Host Steve Yang Natural Resource Stocks
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Chapters
00:00 Cold open: three revenue streams and the catalyst window
01:50 Welcome and what Starcore does
02:42 San Martin Mine base and Mexico focus
03:39 The three revenue streams framework
04:45 Carbonaceous ore processing and go-live timing
06:22 Tailings strategy and environmental execution
08:10 Worker health systems and operating culture
09:09 Costs, grades, and processing economics
10:18 Africa assets spin-out and capital return structure
12:46 Mexico security backdrop and producer protocols
16:52 Share structure, warrants, and dilution discipline
18:11 Cash flow scale discussion and market-cap thesis
21:42 Sponsor disclosure and closing
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