Helius Obtains Suspension of Ex Parte Preliminary Injunction Issued Regarding the Serra Pelada Project
Helius clears legal hurdles for Serra Pelada despite ongoing concerns regarding dilution and liabilities.
Helius Minerals Limited (HHH) received a favorable ruling from the Court of Appeals of Pernambuco, Brazil, suspending an ex parte preliminary injunction issued on July 31, 2026. The injunction, filed by Brent Smith representing Phoenix Gems, sought to block the sale or transfer of Colossus Brazil and the Serra Pelada mining rights.
The appellate court ordered the lower court to cancel litigation blocks on the National Mining Agency (ANM) and the state commercial registry, effectively removing the legal barrier to the acquisition. Helius can now proceed with closing the acquisition of Colossus Brazil under the March 3, 2025 agreement. Management denies Smith has valid claims and vows to vigorously defend against interference.
Helius Minerals Limited (HHH) has seen a significant legal overhang removed regarding its Serra Pelada acquisition following a recent ruling. The transaction had already been telegraphed through multiple prior releases, including TSXV approval in June, an option exercise in June, and financing secured in February.
The stock had already priced in the acquisition narrative, rallying from approximately $1.52 in August 2025 to a high of $6.75 in April 2026 before retreating to $3.94. This development represents a procedural milestone that confirms the path to closing but does not alter the underlying project economics, liability profile, or capital requirements. The market’s reaction, with the stock down approximately 42% from its peak despite the legal win, indicates the news was expected and fully absorbed.
Helius Minerals Limited (TSXV: HHH) is a mining company focused on the Serra Pelada Gold-PGM project in Pará, Brazil. The company holds an option to acquire a 75% interest in the project from Colossus Minerals Inc. The project has historical infrastructure but has been dormant since 2014. Helius is working to reactivate operations, secure regulatory approvals, and resolve legacy liabilities.