Helius Minerals Comments on Recent Statements Regarding the Serra Pelada Project
Helius clarifies the Serra Pelada dispute and continues acquisition progress amid liability management.
Helius Minerals Limited (HHH) has addressed recent statements from Phoenix Gems concerning a civil dispute over the Serra Pelada project. The company noted that a court judgment regarding Brent Smith’s shareholder status in Phoenix Gems do Brasil Ltda. does not grant any rights, title, or interest in the Serra Pelada project to Phoenix Gems or Mr. Smith.
Helius asserts that any claims made by Phoenix Gems or Mr. Smith over the project are without merit. The judgment explicitly preserves the rights of good-faith third parties.
Helius remains focused on completing its acquisition of the Serra Pelada project and advancing development, as previously disclosed in its June 30, 2026 news release. The company stated it will take appropriate steps in the ordinary course to protect its interests.
Helius Minerals Limited (HHH) issued a standard legal clarification regarding a third-party dispute, a move that does not alter the acquisition timeline, financial position, or operational status of the Serra Pelada project. The market’s reaction, with the share price declining from $5.96 on June 30 to $5.25 on July 6, suggests investors are digesting the broader liability update from early June rather than reacting to this specific legal defense. The update serves as routine housekeeping, mitigating a specific legal overhang without creating new value or materially changing the risk/reward profile.
Helius Minerals Limited (TSXV: HHH) is a mining company focused on acquiring and developing the Serra Pelada Gold-PGM project in Pará, Brazil. The company holds an option to acquire a 75% interest via Colossus Minerals Inc.'s Brazilian subsidiaries, Colossus Mineração Ltda. and Mineração Fazenda Monte Belo Ltda.
The project is currently in pre-production, with the company advancing regulatory compliance, liability resolution, and project rehabilitation. Although the site has been on care and maintenance since 2014, it retains existing drilling and underground development infrastructure.