Heliostar talks Goldstrike project details
Heliostar transforms into a multi-asset producer with aggressive Utah acquisition and Mexican mine restarts.
The most recent news (March 23-24, 2026) announces that Heliostar has entered into a binding agreement to acquire a 100% interest in the Goldstrike project in Utah from Liberty Gold Corp. for a total consideration of $72.5 million. The deal is structured with an initial $10M cash payment and 1.59M shares, followed by $62.5M in milestone payments over five years. Goldstrike is a Carlin-style deposit with an indicated resource of 975,000 oz Au at 0.46 g/t. Simultaneously, the company reported fiscal 2025 results showing $47.4M in mine operating earnings and a successful restart of the San Agustin mine.
This is a Material - Positive development. - Strategic Diversification: The acquisition provides Heliostar with a significant footprint in a Tier-1 mining jurisdiction (Utah, USA), reducing its heavy reliance on Mexican assets. - Attractive Deal Structure: The $72.5M price tag is heavily back-weighted. By paying only $10M upfront, Heliostar preserves its $40.6M cash pile for the development of its flagship Ana Paula project. - Resource Growth: Adding nearly 1 million ounces of gold significantly advances the company's stated goal of becoming a 500,000 oz/year producer by 2030. - Operational Synergy: The company is leveraging cash flow from its recently restarted San Agustin and La Colorada mines to fund M&A and development without immediate massive equity dilution.
Heliostar is a gold producer and developer with a portfolio in Mexico and the USA. - Flagship Project: Ana Paula (Guerrero, Mexico). A high-grade underground project with a PEA showing 101,000 oz/year production at an AISC of $1,011/oz. - Producing Assets: La Colorada (Sonora) and San Agustin (Durango), both recently restarted and generating positive operating cash flow. - New Asset: Goldstrike (Utah), a past-producing heap leach project.