Heliostar Metals Produced 9,082oz AuEq in 1Q25

Heliostar Metals reported preliminary interim results for 1Q25. The company produced 9,082oz of gold equivalent (AuEq), marking the first quarter of full production for the company.

Heliostar Metals reported 9,082oz AuEq production and sales of 8,034oz AuEq in 1Q25. Preliminary consolidated cash costs for the quarter were US$1,175/oz to 1,275/oz of AuEq sold, and consolidated all-in sustaining costs (AISC) were US$1,375/oz to 1,475/oz AuEq sold. The average sale price for gold during 1Q25 was US$2,875/oz.   

Heliostar Metals stated it is on track to achieve its previously released annual sales guidance of 31,000oz to 41,000oz AuEq for 2025. It also noted it is on track for its annual cash cost guidance range of US$1,800-1,900/oz AuEq sold and AISC guidance of US$1,950-2,100/oz AuEq sold. “1Q25 was a very strong first full quarter of production for the company.  We restarted production at La Colorada mine, fully paid off the acquisition debt, and returned lower costs than budgeted,” said Charles Funk, CEO, Heliostar Metals, adding that the company expects production to decrease in 2Q25 due to the drawdown of inventory on the leach pad at San Agustin mine before a planned restart of primary mining activities later in 2025. 

Heliostar Metals concluded the quarter with a cash balance of US$27 million and reported no debt. The company plans to use its cash balance to expand drilling at La Colorada and commence a drilling campaign at the Ana Paula project, where it sees potential to increase the underground resource. The company's focus for 2Q25 includes delivering an updated technical report to support a planned increase in production at La Colorada and completing permitting for the restart of mining at San Agustin.