- Heliostar Metals (TSXV:HSTR) completed the first gold pour at its San Agustin mine in Durango, Mexico, after successfully restarting operations in January 2026
- The gold mining company operates a portfolio of production and development assets in Mexico
- Heliostar Metals stock has added 232.22 per cent year-over-year
Heliostar Metals (TSXV:HSTR) completed the first gold pour at its San Agustin mine in Durango, Mexico, after successfully restarting operations in January 2026.
The restart, completed on time and on budget, has exceeded internal targets for ore mining rates and recoverable ounces stacked, putting operations on track to meet production guidance of 30,000-32,700 ounces of gold in 2026.
Concurrently, the company is progressing with a 10,000-15,000 metre drilling program at San Agustin to potentially expand the open pit’s 115,000 gold equivalent ounce (GEO) reserve and extend mine life. According to Thursday’s news release, initial assays will be released over the near term.
The milestone follows Heliostar’s record output of 9,165 GEOs in Q3 2025, earning US$1.3 million in net income, and the achievement of full-year guidance for the company’s first full year in production.
Management commentary
“It is an extraordinary time in the gold market to bring new production online,” Charles Funk, chief executive officer of Heliostar Metals, said in a statement. “Bringing San Agustin online has increased our year-on-year consolidated production guidance by over 60 per cent, whilst maintaining a low ~$2,000 AISC in 2026. At our 2026 budget gold price of $3,800 per ounce, cash flow from San Agustin allows us to fund our company-wide exploration programs and capital programs, including a pit expansion at La Colorada and decline development at Ana Paula.”
“At current spot prices, we can do all this and build our cash position more rapidly to help fund the Ana Paula CAPEX planned for 2027/28,” Funk added. “At San Agustin, the next key update will be results from the drill program targeting mine life extension. These results are expected in mid-late Q1, 2026.”
About Heliostar Metals
Heliostar is a gold mining company operating a portfolio of production and development assets in Mexico.
Heliostar Metals stock (TSXV:HSTR) last traded at C$2.99 and has added 232.22 per cent year-over-year.
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