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Production / Operations

Stonegate Capital Partners Initiates Coverage on Heliostar Metals Ltd (HSTR)

By The Northwire Desk — AI Analysis Sep 26, 2025 · 09:21 HSTR · 1.73 Heliostar Metals Ltd.
HSTR · Price

Executive Summary

  • Stonegate Capital Partners initiates coverage of Heliostar Metals Ltd, highlighting the company’s high‑grade Ana Paula underground development asset (~1.2 M oz at 5.4 g/t Au).
  • Heliostar reported $27.9 M revenue from the sale of 8,556 GEOs at an AISC of US$1,541/oz, and holds approximately $30 M in cash with no debt.
  • Production updates: La Colorada delivered 3,464 oz in Q2‑2025; San Agustín received approval to restart mining in Q4‑2025.

Key Details

  • Ana Paula Project: High‑grade underground development asset in Guerrero with ~1.2 M oz grading 5.4 g/t Au (High‑Grade Panel).
  • Drilling Program: Ongoing drilling extending the Parallel Panel and upgrading inferred resources; work is progressing toward a Preliminary Economic Assessment (PEA) and a Feasibility Study slated for mid‑2026.
  • Production Timeline: First production from Ana Paula targeted for 2028 at an estimated rate of ~100 koz/year, with underground permit amendment to be submitted in 2026.
  • Financial Highlights: Sold 8,556 GEOs at an AISC of US$1,541/oz, generating $27.9 M revenue; cash balance ~$30 M; debt‑free balance sheet.
  • Quarterly Production (2Q‑25): La Colorada produced 3,464 oz of gold at low cost; San Agustín received regulatory approval to restart mining operations in Q4‑2025.
  • Funding Strategy: Expansion of Ana Paula expected to be primarily self‑funded from cash generated by existing producing assets.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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