# Heliostar Presents Q2 2026 Financial and Operating Results with Record Gold Production and Cash Balance Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/heliostar-presents-q2-2026-financial-and-operating-results-with-record-gold-prod--6a73d790-e32d-4cb9-9b3c-d45e9b0cf3a0 Original source: https://money.tmx.com/en/quote/HSTR/news/4830052050996834/heliostar-presents-q2-2026-financial-and-operating-results-with-record-gold-prod Publisher: tmx Original announcement: 2026-08-07T10:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Heliostar Metals Ltd. - Ticker: HSTR - Exchange: TSX - Region: Unavailable - Primary commodity: Gold - Secondary commodities: Silver, Antimony - Document categories: Production, Agreement transaction, Resource update, Drill results - Extracted: 2026-09-12 06:36:16 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Heliostar Metals Ltd. announced record Q2 2026 financial and operating results, achieving 14,803 gold ounces and 79,710 silver ounces produced, alongside record revenues of $56.5 million and a $43.0 million cash balance. The company maintained low-cost production, though AISC and cash costs increased quarter-over-quarter, and net income decreased due to higher stock-based compensation and tax expenses. Heliostar also completed the acquisition of the Goldstrike project, adding significant gold resources and critical minerals exposure, and continues to advance its Ana Paula project with positive drill results. Reasoning: Heliostar reported record Q2 2026 gold and silver production, revenues, and cash balance, driven by strong performance from its operating mines and the acquisition of the Goldstrike project, despite increased operating costs and a decrease in net income compared to the prior quarter. The company is on track to meet its full-year production guidance and is advancing key development projects. - Positive factor: Record gold production \(14,803 oz\) - Positive factor: Record silver production \(79,710 oz\) - Positive factor: Record cash position \($43.0 million\) - Positive factor: Record revenues \($56.5 million\) - Positive factor: Record mine operating earnings \($31.1 million\) - Positive factor: Increased quarterly gold production from San Agustin by 49% - Positive factor: Acquisition of Goldstrike project, adding resources and diversification - Positive factor: Ana Paula infill drilling encountering high-grade mineralization - Positive factor: On track to meet full-year production guidance - Positive factor: Mine life extension initiatives at La Colorada and San Agustin - Negative factor: AISC per gold ounce sold increased to $2,287 from $1,996 in Q1 2026 - Negative factor: Cash cost per gold ounce sold increased to $1,654 from $1,602 in Q1 2026 - Negative factor: Net income decreased compared to previous quarter \($8.0M vs $14.1M\) - Negative factor: Working capital decreased from previous quarter \($45.9M vs $70.0M\) Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 30 ## Classification and evidence **Record Production** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company reported record gold production of 14,803 ounces and silver production of 79,710 ounces for Q2 2026. Evidence · text > Produced a record 14,803 gold ounces and 79,710 silver ounces **Record Cash Position** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Heliostar achieved a record cash position of $43.0 million at the end of Q2 2026. Evidence · text > Record cash position of $43.0 million at end of Q2 **Record Revenue** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company reported record revenues of $56.5 million for Q2 2026. Evidence · text > Record revenues of $56.5 million **AISC Increase** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: AISC per gold ounce sold increased to $2,287 in Q2 2026 from $1,996 in Q1 2026 and $1,541 in Q2 2025. Evidence · table > $2,287 Context: AISC per gold ounce sold \(by-product\) **Cash Cost Increase** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: Cash cost per gold ounce sold increased to $1,654 in Q2 2026 from $1,602 in Q1 2026 and $1,413 in Q2 2025. Evidence · table > $1,654 Context: Cash costper gold ounce sold \(by-product\) **Acquisition Completed** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Heliostar completed the acquisition of the Goldstrike project during Q2 2026. Evidence · text > Completed acquisition of Goldstrike during Q2 **Resource Diversification** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Goldstrike acquisition provides geographic diversification and adds another development project to the company's pipeline. Evidence · text > The acquisition provides geographic diversification, adds another high-quality development project to the Company's pipeline **Critical Minerals Exposure** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Goldstrike acquisition adds critical minerals exposure through the Antimony Ridge prospect. Evidence · text > adds critical minerals exposure through the Antimony Ridge prospect **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Goldstrike project's resource estimate is reported under an NI 43-101 Technical Report. Evidence · text > NI 43-101 Technical Report Goldstrike Project, Utah, USA **Infill Drilling** Polarity: neutral Story-specific tag Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The Ana Paula project is undergoing a 25,000-metre infill drilling program to deliver mineral reserves for the Feasibility Study. Evidence · text > The objective of the infill program was to deliver mineral reserves that will support a 10-year life-of-mine in the Feasibility Study **Step-Out Extension** Polarity: positive Story-specific tag Definition: Mineralization extended beyond the previously known limit. Why it applies: The exploration drill program at Ana Paula targeted the Expansion Zone, expanding the mineralized footprint at depth. Evidence · text > The exploration drill program targeted the Expansion Zone beneath the High Grade Panel, expanding the mineralized footprint at depth. **Feasibility Study Progress** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: Work on the Feasibility Study for the Ana Paula project is ongoing, with planned publication in mid-2027. Evidence · text > work on the Feasibility Study is ongoing. This includes advanced metallurgical testing, updating the resource to include the recent drilling, detailed process plant design and mine plan optimization. **Mine Life Extension** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Drilling at San Agustin and engineering at Veta Madre Plus at La Colorada aim to extend mine life. Evidence · text > aim of extending the mine life at San Agustin ## Extracted facts Stored fact records: 5. Some facts used in scoring do not have a stored record. ## Drill Results (3) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/heliostar-presents-q2-2026-financial-and-operating-results-with-record-gold-prod--6a73d790-e32d-4cb9-9b3c-d45e9b0cf3a0#fact-drill-facts-27) Ana Paula · gold Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Ana Paula - Commodity: gold - Region: mexico - Reported Region: mexico - Ticker: HSTR #### Geometry - Grade: 10.9 - Grade Unit: g/t - Intercept: 99.8 m #### Classification - Program: resource - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-25T00:00:00.000Z #### Dates - Event date: 2026-08-07T00:00:00.000Z Reasoning: This historical high-grade, wide intercept from infill drilling at Ana Paula is significant for refining the inferred resource and supporting the upcoming Feasibility Study. - Positive factor: High-grade mineralization - Positive factor: Wide intercept length - Positive factor: Supports updated resource for Feasibility Study Evidence · text > 99.8 metres of 10.9 grams per tonne \("g/t"\) gold as per the June 25, 2026, press release #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/heliostar-presents-q2-2026-financial-and-operating-results-with-record-gold-prod--6a73d790-e32d-4cb9-9b3c-d45e9b0cf3a0#fact-drill-facts-28) Ana Paula · gold Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Ana Paula - Commodity: gold - Region: mexico - Reported Region: mexico - Ticker: HSTR #### Geometry - Grade: 2.88 - Grade Unit: g/t - Intercept: 49.6 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-25T00:00:00.000Z #### Dates - Event date: 2026-08-07T00:00:00.000Z Reasoning: This historical intercept from step-down drilling at Ana Paula indicates expansion of the mineralized footprint at depth, which is positive for exploration potential. - Positive factor: Good grade mineralization - Positive factor: Wide intercept length - Positive factor: Expands mineralized footprint at depth Evidence · text > results of up to 49.6 metres of 2.88 g/t gold including 9.05 metres of 9.49 g/t gold \(as reported in the same press release above\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/heliostar-presents-q2-2026-financial-and-operating-results-with-record-gold-prod--6a73d790-e32d-4cb9-9b3c-d45e9b0cf3a0#fact-drill-facts-29) Ana Paula · gold Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Ana Paula - Commodity: gold - Region: mexico - Reported Region: mexico - Ticker: HSTR #### Geometry - Grade: 9.49 - Grade Unit: g/t - Intercept: 9.05 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-25T00:00:00.000Z #### Dates - Event date: 2026-08-07T00:00:00.000Z Reasoning: This historical high-grade sub-interval within a wider intercept further confirms significant mineralization at depth in the Ana Paula Expansion Zone. - Positive factor: High-grade sub-interval - Positive factor: Expands mineralized footprint at depth Evidence · text > including 9.05 metres of 9.49 g/t gold \(as reported in the same press release above\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/heliostar-presents-q2-2026-financial-and-operating-results-with-record-gold-prod--6a73d790-e32d-4cb9-9b3c-d45e9b0cf3a0#fact-resource-facts-25) Goldstrike #### Identity - Project: Goldstrike - Region: usa\_ut - Reported Region: Utah, USA - Ticker: HSTR #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:eea708a75780b1142965 #### Resource Data - Category: indicated - Tonnes: 65800000 - Grade: 0.46 - Grade Unit: g/t - Contained Metal: 975 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-03-26 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-07T00:00:00.000Z Reasoning: The Goldstrike project adds a substantial indicated gold resource, reported under NI 43-101 standards, to the company's portfolio. - Positive factor: Significant indicated gold resource - Positive factor: NI 43-101 compliant Evidence · text > indicated resources of 975k ounces at 0.46 g/t gold in 65.8 million tonnes \("Mt"\) in a Carlin-style system as reported in "NI 43-101 Technical Report Goldstrike Project, Utah, USA" with an effective date of March 26, 2026 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/heliostar-presents-q2-2026-financial-and-operating-results-with-record-gold-prod--6a73d790-e32d-4cb9-9b3c-d45e9b0cf3a0#fact-resource-facts-26) Goldstrike #### Identity - Project: Goldstrike - Region: usa\_ut - Reported Region: Utah, USA - Ticker: HSTR #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:b709d7977714fa9910c2 #### Resource Data - Category: inferred - Tonnes: 8900000 - Grade: 0.31 - Grade Unit: g/t - Contained Metal: 90 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-03-26 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-07T00:00:00.000Z Reasoning: The Goldstrike project includes an inferred gold resource, providing further exploration potential. - Positive factor: Additional inferred gold resource - Positive factor: NI 43-101 compliant Evidence · text > inferred resources of 90k ounces at 0.31 g/t in 8.9Mt, as reported by the Company on March 24, 2026 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.