Heliostar Metals (HSTR) Mining Forum Americas 2026 summary

Strategic growth and production targets

• Aims to reach 500,000 ounces annual gold production by decade's end, with significant steps underway and a robust development pipeline including Ana Paula, Cerro de Gallo, and Goldstrike.

• Current operations in Mexico include two profitable mines and a resource base exceeding 7 million ounces of gold and 100 million ounces of silver.

• Year-over-year gold production has grown from 30,000 to over 50,000 ounces, maintaining high margins and low all-in sustaining costs around $2,000–$2,100 per ounce.

• No near-term equity raise is planned due to strong cash flow and project financing for Ana Paula; recent GDXJ index inclusion and TSX uplisting targeted.

• Management team has deep mine-building experience and emphasizes community engagement, including scholarships and local infrastructure support.

Ana Paula project and feasibility study

• Ana Paula is the key growth driver, with a PEA showing $300 million CapEx, $1,000/oz AISC, and 100,000 ounces annual production for nine years.

• Feasibility study is one-third complete, targeting a 10-year mine life at 100,000 ounces per year, with mill expansion plans from 1,800 to 2,000–2,500 tons per day.

• First gold pour expected in late 2028; project financing led by Hannam & Partners, with no equity dilution anticipated.

• Ore body shows high grades and widths, supporting low OpEx and strong margins; ongoing drilling indicates potential for mine life extension.

• Feasibility study delivery set for Q2 2027, with construction decision mid-year and incremental improvements expected from design changes.

Operating mines and near-term growth

• La Colorada mine transformed from closure to profitable operation using innovative injection leaching, contributing significantly to current guidance.

• Veta Madre Plus expansion underway, targeting 20,000 additional ounces and new oxide material stacking from Q2 next year.

• San Agustin mine expanded, generating $70 million in cash flow until April 2027, with exploration aimed at extending mine life by 12 months.

• Both mines provide strong cash flow to fund development pipeline and support organic growth.