Heliostar Metals Ltd.

Section1: Company Overview and Fundamental Insights:

Heliostar Metals Ltd. (TSXV: HSTR) is a junior mining company with a portfolio of advanced high-grade gold projects in Mexico and Alaska. The Company is focused on developing the 100% owned Ana Paula Project in Guerrero, Mexico which holds 1.46 million ounces of gold at 2.16 g/t. In addition, Heliostar is working with the Mexican government to permit the San Antonio Gold Project in Baja Sur, Mexico which holds 1.73 million ounces of gold at 0.83 g/t. The Company continues its work on expanding the resource at the Unga Gold Project in Alaska, United States of America which holds 384,318 ounces of gold at 13.8 g/t.

Kalkine’s Penny Report covers the Investment Highlights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

The top 10 shareholders together form ~37.66% of the total shareholding. Ontario, Ltd. and Franklin Advisers, Inc. hold a maximum stake in the company at ~14.74% and ~7.43%, respectively.

The company reported rising financials in 9M 2024, where it clocked healthy growth under its Income (loss) before Taxes, which is a key positive. Furthermore, it witnessed elevated Cash used in Investing Activities, reflecting its commitment to expansion and innovation.

Section 2: Business Updates and Financial Highlights

The picture below gives an overview of the company’s recent activities, such as an announcement regarding updates on Positive Stockpile Drilling Results  and Temporary Production Decline in Q2 2025.

Section 3: Key Risks and Company Outlook

Section 4: Stock Recommendation Summary

The stock has witnessed an upward of ~4.13% and ~22.33% over the last 1 week and 3 months respectively. Moreover, it is trading above the average 52-week high price of CAD 1.48 and the 52-week low price of CAD 0.26, providing an opportunity to ride the trend.

Valuation Methodology: EV to Sales Based Relative Valuation (Illustrative):

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is June 30, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement. 

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

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. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.