Heliostar Metals Starts Open-Pit Mining at La Colorada, Advances Ana Paula
Heliostar Metals (TSXV:HSTR,OTCQX:HSTXF) acquired La Colorada in Sonora during the project’s shutdown, initially restarting it with stockpiles. The company is now working toward expanding the 50,000 ounce Veta Madre pit at the project.
Speaking to the Investing News Network at the Precious Metals Summit in Beaver Creek, Colorado, CEO Charles Funk said that Heliostar is targeting another 20,000 ounces for Veta Madre following receipt of a permit in 2025.
“We’ll be adding extra material in Q2 next year that’ll return La Colorada to primary production again, which is a great milestone for us,” he said.
Meanwhile, the feasibility study for the company’s flagship development, Ana Paula in Guerrero, is about a third done and due in Q2 next year. A construction decision is planned for the middle of 2027, with first gold targeted for the end of 2028. The study targets 10 years of production at 100,000 ounces per year.
“We believe we can bring Ana Paula online without issuing further equity,” Funk said.
Watch the full interview with Heliostar Metals CEO Charles Funk above.
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