Heliostar to Acquire Goldstrike Gold Project in Utah
Heliostar transitions from explorer to producer with aggressive M&A and self-funded growth strategy.
The most recent news (March 23, 2026) announces the acquisition of a 100% interest in the Goldstrike Project in Utah from Liberty Gold for $72.5 million. The deal is heavily back-weighted: only $10M is due in cash at closing, with the remaining $62.5M spread over five years through milestone and anniversary payments. This follows a string of positive operational updates, including the restart of the San Agustin mine (first gold pour Jan 2026), achieving 2025 production guidance of 34,098 GEOs, and reporting a strong cash position of $40.6M as of Dec 31, 2025.
The acquisition of Goldstrike is Material - Positive because it provides a clear production pipeline in a Tier-1 jurisdiction (USA) without immediate massive dilution or debt strain, thanks to the deferred payment structure. - Operational Synergy: The company is successfully using cash flow from its Mexican operations (La Colorada and San Agustin) to fund the development of its flagship Ana Paula project and now this new acquisition. - Financial Strength: Reporting $47.4M in mine operating earnings for the nine months of 2025 proves the company's ability to generate internal capital. - Growth Profile: Heliostar is effectively executing a "hub and spoke" model in Mexico while diversifying geographically into Utah. The 2026 guidance of 50k-55k oz gold shows a ~60% year-over-year production increase.
Heliostar is a gold producer and developer focused on Mexico and the USA. - Flagship Project: Ana Paula (Guerrero, Mexico). A high-grade underground project with a PEA showing an NPV5% of $426M (at $2,400 gold) and an AISC of $1,011/oz. It is targeted for production in 2028 at ~100k oz/year. - Secondary Assets: La Colorada (producing), San Agustin (restarted production Jan 2026), and Cerro del Gallo (PFS stage).