Heliostar Lifts 2026 Guidance After First Gold Pour at San Agustin

The open-pit operation now becomes Heliostar’s second producing asset, alongside its La Colorada mine in Sonora.

SEATTLE (Scrap Monster): Mexico-focused miner Heliostar Metals has poured first gold from the recently restarted San Agustin mine in Durango state, marking a key operational milestone for the company.

The open-pit operation now becomes Heliostar’s second producing asset, alongside its La Colorada mine in Sonora. The company expects San Agustin to produce approximately 45,000 ounces of gold from remaining reserves.

Operations were restarted on time and on budget, with first gold poured in late January. Heliostar said the mine has exceeded internal targets for ore mining rates and recoverable ounces placed on the leach pad, keeping it on track to meet 2026 production guidance. CEO Charles Funk said the start-up comes at a favorable time for gold markets and allows the company to lift year-on-year consolidated production guidance by more than 60%.

For 2026, Heliostar expects total gold output of 50,000–55,000 ounces, including 30,000–32,700 ounces from San Agustin and 20,000–22,300 ounces from La Colorada, while maintaining all-in sustaining costs near $2,000 per ounce.

The company is also advancing a 10,000–15,000-metre drilling program aimed at extending San Agustin’s current 14-month mine life. Shares rose nearly 3% on Friday.

YOU MAY ALSO BE INTERESTED IN:

B2Gold Corp. Announced First Gold Pour at the Goose Mine

Newmont Announced First Gold Pour at Ahafo North Project in Ghana

• Failed Rio Tinto-Glencore talks show big copper deals are hard to do
• French cities urged to lead on single-use plastic reduction
• eCycle Opportunities Collects 4,000+ Pounds of E-Waste at Free Event
• Contamination Economics: Why Scrap Loads Get Downgraded and How Value Is Lost