In this KE Report Company Update, Stephen Soock, VP of Investor Relations & Development at Heliostar Metals (TSX-V:HSTR – OTCQX:HSTXF – FSE:R0G1), breaks down a busy month of news across financials, operations, and exploration.

Key Discussion Highlights:

• Q3 Financials
  Record ~9,000 GEOs produced; strong net income; quarter-end cash US$34.6M plus unsold ounces; ~US$6.5M spent on exploration.
  
  
• Costs & Guidance
  Cash costs ~US$1,500/oz, AISC ~US$1,800/oz; Q4 costs to rise with San Agustin restart but still within guidance.
  
  
• La Colorada & San Agustin
  La Colorada steady production from stockpiles ahead of a 2026 shift to higher-grade open-pit mining.
  San Agustin restart underway with first ore expected by year-end and strong cash flow in 2026.
  
  
• Ana Paula PEA
  Robust economics at US$2,400 gold; >US$1B NPV at US$3,800 gold; ~100,000 oz/yr at ~US$1,000 AISC once built.
  
  
• Drill Program Expansion
  Increased to 20,000m following impressive hits, including 83m of 17 g/t Au; continued potential to extend mine life.
  
  
• Development Timeline
  Feasibility, permitting, and financing work in progress; construction decision targeted H1 2027; production H2 2028.
  
  
• Upcoming Catalysts
  SGA PFS, more drill results, La Colorada permit updates, and San Agustin’s first production.
  
  

Please email me at Fleck@kereport.com with any follow up questions for Charles. 

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