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FAQ: Stonegate Capital Partners' Mid-Quarter Update on Heliostar Metals Ltd (TSXV: HSTR) 2Q26
TL;DR
Heliostar Metals' Ana Paula project offers investors strong leverage to gold prices with a 28% IRR and 2.9-year payback at $2,400/oz, creating significant competitive advantage.
Heliostar Metals' PEA outlines a 9-year mine producing 101 koz/year at $1,011/oz AISC, with engineering and a 15,000m drill program supporting a 2026 feasibility study.
Heliostar Metals' responsible gold mining development creates economic opportunities and supports local communities through sustainable operations with positive long-term environmental and social impacts.
Heliostar Metals' Ana Paula project contains gold averaging 5.37 g/t, with mining operations restarting at San Agustin adding 45,000 ounces to production potential.
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This update provides a mid-quarter coverage review of Heliostar Metals Ltd (TSXV: HSTR), focusing on the advancement of its flagship Ana Paula project and other corporate developments.
The PEA outlines total recovered production of approximately 875,000 ounces of gold over a nine-year mine life, with an average mill feed grade of 5.37 g/t gold, annual production of roughly 101,000 ounces, cash costs of ~US$923/oz, and all-in sustaining costs (AISC) of ~US$1,011/oz.
At a gold price of US$2,400/oz, the PEA delivers a post-tax NPV5 of US$426 million, a 28% internal rate of return (IRR), and a 2.9-year payback period, with strong leverage to higher gold prices.
Management is progressing engineering, metallurgical work, and a 15,000-meter drill program to support a Feasibility Study targeted for mid-2026, with first underground production still expected in 2028.
Key takeaways include: mining operations restarted at San Agustin, adding 45,000 ounces; the Cerro del Gallo Pre-Feasibility Study (PFS) shows a base case NPV of $424.0M; and an oxide targets drilling program is underway with 37 holes completed and submitted for analysis.
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies, with an affiliate, Stonegate Capital Markets, offering investment banking services.
The flagship Ana Paula project is located in Guerrero.
This update was released on January 6th, 2026. For more information, you can contact Stonegate Capital Partners at (214) 987-4121 or via email at info@stonegateinc.com.
Curated from Reportable
