Northwire Canada EditionThursday, October 15, 2026
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GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
Drill Results Routine +

Heliostar Set to Expand La Colorada with Strong Drill Results and Key Permits

Heliostar’s Veta Madre expansion remains on track despite the stock falling 45% from its peak as the market digests execution pace and cost trajectory.

By The Northwire Desk — AI Analysis Jun 18, 2026 · 06:31 HSTR · 1.82 Heliostar Metals Ltd.
Executive Summary
  • Heliostar Metals announced strong drill intercepts at the Veta Madre pit area at its La Colorada mine, including high-grade intervals up to 1.3m @ 173.5 g/t Au.
  • Final permitting approvals for the Veta Madre pit expansion have been received, clearing the last regulatory hurdle for the project.
  • Engineering for the larger "Veta Madre Plus" pit is ongoing, with waste stripping targeted to commence in early Q3 2026.
  • Production from the expanded pit is targeted for the first half of 2027.
  • The completed drill program (44 holes, 8,425m) aims to de-risk and expand the pit to the south and at depth, targeting an additional ~20,000 ounces of gold above the current mine plan.
  • Management confirmed it will not release a new NI 43-101 report for this expansion but will reflect the updated resource model and higher gold price impacts in its 2027 annual production and cost guidance.
  • This is a drill results and operations update, not an earnings release. All financial metrics cited below are prior-period context to frame the operational update.
Material Impact
  • The news confirms execution of a previously telegraphed plan. The Veta Madre permit closure and Q3 stripping start were already priced into the January 2026 guidance.
  • The ~20,000 oz reserve upside is incremental but does not materially alter the 6.1-year mine life or the company's near-term cash flow profile.
  • The stock has declined ~45% from its January 2026 peak (~$3.28 to ~$1.82). The market appears to have already discounted the execution timeline and is likely focused on broader macro headwinds, cost trajectory, and the capital intensity of the Ana Paula development.
  • This is a routine positive execution update. It does not re-rate the business, change guidance, or introduce new financial metrics.
HSTR · Price
Company Overview
  • Heliostar Metals is a producing gold and silver miner operating in Mexico and the USA.
  • Flagship Assets: La Colorada (Sonora, Mexico) and San Agustin (Durango, Mexico).
  • Development Pipeline: Ana Paula (Guerrero, Mexico) underground project targeting 101 koz/yr by 2028; Cerro del Gallo (Guanajuato, Mexico) PFS stage; Goldstrike (Utah, USA) acquired in April 2026; San Antonio (Baja California Sur) early-stage.
  • Management: Charles Funk (CEO), Gregg Bush (COO), Vitalina Lyssoun (CFO).
  • Strategic Investors: Eric Sprott (15%), Franklin Templeton (5.6%), Adrian Day - Europac (3.8%).
Read the original news release →

More from Heliostar Metals Ltd.

Oct 13, 2026 · 06:31

Heliostar advances Ana Paula permit submission to advance its 2027 construction decision despite lingering cost creep and dilution risks.

Production / Operations Sep 21, 2026 · 06:31

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Earnings Jun 25, 2026 · 06:31

Heliostar’s high-grade Ana Paula intercepts de-risk the feasibility study despite a $300m capex wall and aisc volatility testing near-term execution.

Drill Results