Image source: © 2025 Krish Capital Pty.Ltd

Highlights

  • HSTR’s operating income for 9MFY25 increased by 62.1% YoY, while income before taxes declined by 614.5% YoY.
  • The company reported 10.7million at 1.81 g/t gold from La Colorada’s Truckshop stockpile, with low-capex sources set to boost near-term cash flow.
  • HSTR maintains full-year AISC guidance of USD 1,950–2,100, emphasizing disciplined ramp-up, cost control, and execution focus.

Heliostar Metals Ltd. (TSXV: HSTR) is a junior mining company advancing high-grade gold projects including the 1.46Moz Ana Paula Project in Guerrero, Mexico 2.16 g/t, the 1.73Moz San Antonio Project in Baja Sur, Mexico 0.83 g/t, pending permitting, and the 384,318oz Unga Project in Alaska, USA 13.8 g/t.

In the nine months of the financial year 2025 (9MFY25), the company’s operating income (loss) increased by 62.1% YoY to CAD 15.1 million due to increased revenue from the commencement of production at LA Colorado and tighter cost control. Income before taxes declined by 614.5% YoY to CAD 14.9 million, driven by a significant gain of CAD 93.8 million related to the acquisition of LA Colorado partially offset the operating loss and boosted pre-tax income. The sharp rise in Net income of 611.2% YoY was due to the one-time gain from the LA Colorado, along with limited tax expense. 

Business update

HSTR anticipates lower Q2FY25 output due to the planned drawdown of leach pad inventory at San Agustin. However, this is a strategic move ahead of restarting primary mining operations later in FY25. Despite the short-term dip, the company remains well-positioned to meet its full-year gold production and cost guidance, as stated by the company.

The company announced encouraging Truckshop stockpile drill results at La Colorada, including 10.7 million at 1.81 g/t gold, with low-capex sources expected to provide interim cash flow ahead of larger pit expansions.

Company Outlook

In FY 2025, HSTR targets 31,000–41,000 Gold Equivalent Ounces (GEOs), primarily from La Colorada (17,500–23,800 GEOs at USD 1,850–1,975 AISC) and San Agustin (5,000–6,200 GEOs post-restart at higher costs). The company maintains a full-year AISC guidance of USD 1,950–2,100, reflecting a disciplined ramp-up, cost control, and execution focus.

Top 10 Shareholders

The top 10 shareholders collectively own approximately 37.66% of the company’s shares, with Ontario, Ltd. and Franklin Advisers, Inc. holding the largest stakes at around 14.74% and 7.43%, respectively.

Stock Information

The stock has witnessed an upside of ~16.67% over the last week and a decline of ~1.48% over the last month, respectively. Moreover, it is trading above the average 52-week high price of CAD 1.48 and 52-week low price of CAD 0.26, with a closing price of CAD 1.33 as of July 02, 2025.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 02 July 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.