Heliostar Metals Ltd Stock Price, News & Analysis

Heliostar Metals (OTCQX: HSTXF) filed a NI 43-101 Prefeasibility Study (PFS) technical report for the Cerro del Gallo project in Guanajuato, Mexico, with an effective date of December 11, 2025.

The report was prepared by Kappes, Cassiday & Associates as lead author/consultant and has been posted on SEDAR+ and the company's website.

Heliostar (OTCQX: HSTXF) provided 2026 production and cost guidance and a multi‑project growth plan. The company forecasts 50,000–55,000 oz gold consolidated production with by‑product cash costs of $1,850–$1,950/oz and AISC of $2,025–$2,125/oz. Projected 2026 mine outputs: La Colorada 20,000–22,300 oz gold (AISC $1,775–$1,875) and San Agustin 30,000–32,700 oz gold (AISC $2,150–$2,250).

Key growth actions include pre‑stripping 11 million tonnes at Veta Madre to access 43,000 oz reserves in H1 2027, a 20,000 m Ana Paula drill program plus 6,500 m added, a Feasibility Study due H1 2027, and a $27M exploration program funded from operating cash flow.

Heliostar (OTCQX: HSTXF) reported full-year 2025 production of 34,098 GEOs (32,990 gold ounces and 80,527 silver ounces), meeting its 2025 guidance range of 31,000–41,000 GEOs. Quarterly production in Q4 2025 was 8,459 GEOs (8,180 gold ounces and 21,494 silver ounces). The company reported a preliminary cash balance of US$41M and no debt as of December 31, 2025, with cash costs and AISC expected to be within guidance.

By asset: La Colorada produced 17,793 gold oz and 57,493 silver oz; San Agustin produced 14,883 gold oz and 22,469 silver oz. Guidance used $2,500/oz gold and $30/oz silver; realized prices averaged $3,477 gold and $37.52 silver. Financial results for year-end will be released in March 2026.

Heliostar Metals (OTCQX: HSTXF; TSXV: HSTR) filed a NI 43-101 Preliminary Economic Assessment (PEA) Technical Report for the Ana Paula Project in Guerrero, Mexico.

The report has an effective date of November 6, 2025, names M3 Engineering & Technology Corp. as lead author and consultant, and lists JDS Energy & Mining as subcontractor. The technical report titled "NI 43-101 Technical Report Preliminary Economic Assessment of the Ana Paula Project, Guerrero, Mexico" was posted on SEDAR+ and on Heliostar's investor website.

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).