Heliostar Metals Ltd Stock Price, News & Analysis

Heliostar Metals (OTCQX: HSTXF) restarted mining, crushing, conveying and stacking of ore at the San Agustin mine in Durango on December 18, 2025, with heap leach operations ongoing.

The company expects mining the current reserve to produce 45,000 oz at an AISC of US$1,990/GEO, and cites an expected US$40M cash flow at a US$3,000/oz gold price. An amended NI 43-101 Technical Report lists a probable reserve of 68,000 oz, initial capital of US$4.2M, post-tax NPV5% of US$35.3M and IRR of 548% (upside case at US$3,000/oz).

Heliostar is conducting a 10,000–15,000m drill program (to date 37 holes / 3,300m completed, assays pending) targeting oxide extensions to extend mine life.

Heliostar (OTCQX: HSTXF) confirmed that its La Colorada expansion permit application progressed through the 20-business-day SEMARNAT review without requests, activating the "positiva ficta" process.

The company completed required submissions and bonding payments in November 2025 and said it is awaiting formal permit documentation, which it expects in Q1 2026. Heliostar stated that restart of open-pit mining in the Veta Madre pit is planned to begin in Q1 2026, and it will provide a further update on the restart schedule in that quarter.

Heliostar Metals (OTCQX: HSTXF) released a Prefeasibility Study for its 100% owned Cerro del Gallo project (effective July 31, 2025) showing robust economics and expansion potential.

Key metrics: after-tax NPV5% of US$423.9M and IRR 33.1% at US$2,300/oz gold; payback 2.3 years; initial CAPEX US$195.3M; life-of-mine production 1.31M GEOs over 15.3 years (avg ~85.7 koz GEO/yr; ~94 koz/yr in Years 1–5); co-product AISC US$1,390/GEO. Indicated resources total ~4.9M GEOs; Probable reserves 2.27M GEOs support the PFS. Study highlights low strip ratio (0.32:1), heap-leach + ADR + SART flowsheet, and planned next steps to expand resources and advance to feasibility.

Heliostar Metals (OTCQX: HSTXF) has entered a three-month marketing and investor relations agreement with GRA Enterprises LLC DBA National Inflation Association effective December 1, 2025 for US$30,000.

The company also disclosed a previously unannounced three-month April agreement with the same provider that commenced April 23, 2025 and for which it paid US$30,000. Services include website features on National Inflation Association’s webpage and related investor relations support. Gerard Adams is identified as the principal responsible for activities under the agreements. The agreements are subject to Heliostar’s TSXV filing requirements and must be approved by the TSXV.

Heliostar Metals (OTCQX: HSTXF) announced that James Perry succeeded Jacques Vaillancourt as Chairman following the Annual General & Special Meeting on November 26, 2025. Perry brings over 17 years of global mining experience and currently serves as President of Sweetwater Royalties, which holds more than 4.5 million mineral acres. Management reiterated the company goal of becoming a 500,000 ounce per year gold producer by the end of the decade.

Under the Omnibus Equity Incentive Plan, Heliostar granted 250,000 stock options at an exercise price of $2.63 (5-year term, vesting over three years) and 200,000 restricted share units (vesting in three equal annual instalments).

Heliostar Metals (OTCQX: HSTXF) filed an Updated Technical Report for its operating La Colorada mine in Sonora, Mexico on November 28, 2025.

The report, titled "La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report," has an effective date of October 19, 2025 and was prepared under NI 43-101 standards with Mine Technical Services Ltd. Engineering as lead author and Call & Nicholas as subcontractor.

The report is available on SEDAR+ and will be posted on Heliostar's investor website.

Heliostar (OTCQX: HSTXF) reported drill results from its 100%‑owned Ana Paula project (Guerrero, Mexico) including an 83.2 m interval grading 17.35 g/t Au from 76.0 m (including 46.65 m at 27.35 g/t) plus other notable intercepts such as 70.65 m at 9.38 g/t and 92.05 m at 4.33 g/t. The company has completed 44 holes and 12,615 m to date and will expand the Ana Paula program by 33% to 20,000 m to support resource conversion and a Feasibility Study. Drilling includes geotechnical, hydrogeologic and metallurgical sampling to inform mine design. Twelve holes remain pending assay and the next results are expected in December. The release references a $1,011 all‑in sustaining cost from the November 6, 2025 PEA.

Heliostar Metals (OTCQX: HSTXF) reported Q3 2025 results with 9,165 GEOs produced and 7,709 GEOs sold, generating $26.8M revenue and $14.2M mine operating earnings. Q3 net income was $1.3M after $6.4M exploration. Cash was $34.6M, working capital $46.7M, and the company held 1,688 unsold ounces with no debt. Consolidated cash cost was $1,500/GEO and AISC $1,825/GEO. Company remains on track for 2025 guidance of 31,000–41,000 GEOs. A PEA for Ana Paula shows 101koz/yr at $1,011/oz AISC, NPV5% of $1,012M and IRR 51.3%.

Heliostar (OTCQX: HSTXF) released a PEA for the Ana Paula underground project (Nov 6, 2025) showing strong economics and a path to production in 2028. Key base-case metrics at a US$2,400/oz gold price include a post-tax NPV5 of US$426.0M, IRR 28.1%, and 2.9 year payback. The 9-year mine plan forecasts ~875koz recovered (avg ~101koz/yr) with AISC US$1,011/oz and initial CAPEX US$300.1M. The PEA uses 742koz M&I plus 514koz Inferred resources and assumes 90% recovery with a BIOX circuit. The company plans early works, decline restart in 2026 and a feasibility study toward 2028 production.