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%
Production / Operations Routine +

Heliostar Commences Open Pit Mining at La Colorada Mine

Heliostar restarts Veta Madre production while maintaining a cash-flow bridge to the Ana Paula project, which requires execution in 2027.

By The Northwire Desk — AI Analysis Aug 27, 2026 · 06:31 HSTR · 2.3 Heliostar Metals Ltd.
Executive Summary

Heliostar Metals Ltd. (HSTR) has physically commenced open-pit mining at the Veta Madre pit at its 100% owned La Colorada mine in Sonora, Mexico. The company reaffirms its 2026 La Colorada production guidance of 20,000–22,300 oz gold. Current production remains from stockpile-and-injection leaching, while the company is transitioning to stacking higher-grade new gold ore, with production from the new ore starting next year.

Veta Madre Plus is described as a larger pit than in the 2025 technical report, targeting an additional 20,000 oz beyond the current reserve base. La Colorada reported reserves are 376,000 oz Au grading 0.68 g/t in 17.1 Mt; Veta Madre pit reserves are 48,000 oz Au grading 0.71 g/t in 2.1 Mt.

The company also announced it has become a signatory to the International Cyanide Management Code.

Material Impact

Heliostar Metals Ltd. (HSTR) issued an operations update confirming a previously telegraphed milestone, rather than an earnings release, reserve update, or financing event. The company had already signaled the mining start at Veta Madre in multiple prior releases, with permits approved and stripping expected in Q3 2026. The additional 20,000 oz Veta Madre Plus target is also a repeat of prior guidance and does not constitute a new reserve conversion or updated technical report.

The stock has already moved up strongly from $1.60 on July 31 2026 to $2.33 on Aug 27 2026, suggesting the market had already priced much of this progress. While Cyanide Code signatory status is positive from an ESG and permitting perspective, it is not financially material by itself.

HSTR · Price
Company Overview

Heliostar Metals Ltd. is a Canadian-listed gold producer with 100% owned assets in Mexico and the United States. Its producing mines include La Colorada in Sonora and San Agustin in Durango. The company’s development projects consist of Ana Paula in Guerrero, Cerro del Gallo in Guanajuato, and San Antonio in Baja Sur. Its US assets are Goldstrike in Utah and Unga in Alaska. The corporate target is production above 500,000 oz Au per year by 2030.

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

Heliostar’s Ana Paula FS execution and AISC discipline will dictate the next leg higher.

Technical Study Aug 20, 2026 · 06:31

Heliostar’s Goldstrike antimony drilling adds optionality while gold economics drive valuation.

Drill Results Aug 07, 2026 · 06:31

Heliostar reported record Q2 gold output while its all-in sustaining costs breached full-year guidance, signaling quietly creeping expenses.

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 Jun 18, 2026 · 06:31

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.

Drill Results