Heliostar Metals - Exploration and Production Update: La Colorada Drill Results, Q1 Operational Strength
Charles Funk, President and CEO of Heliostar Metals (TSX.V:HSTR - OTCQX:HSTXF - FRA: RGG1), returns to the KE Report to discuss the latest drill results from the La Colorada Mine, Q1 production performance, and what’s next for the company’s growth strategy.
The May 15th drill results from the 16,000+ meter program at La Colorada included a highlight intercept of 56m at 2.88 g/t gold, supporting both near-term open-pit expansion and longer-term underground potential. Charles outlines how the company has rapidly transitioned La Colorada from care-and-maintenance to a 6.5-year mine life, with a mid-year technical report coming.
The conversation also covers:
- Strong Q1 cash generation: Ended Q1 with $27 million in the bank, no debt, with ~$13 million from operations alone
- Lower-than-expected Q1 costs
- Development timelines and cash flow projections to help self-fund the Ana Paula build in 2028
- Updates on the 15,000-meter drill program at Ana Paula, with results expected by mid-year
Charles emphasizes that current operations are performing ahead of schedule and under budget, while upcoming catalysts from both La Colorada and Ana Paula.
Please email me at Fleck@kereport.com with any follow up questions for Charles.
Click here to visit the Heliostar Metals website to learn more about the Company.
