First Gold at San Agustin Prompts Heliostar to Upgrade 2026 Guidance
Mining News | 2026-02-09 21:34:40
The open-pit operation now becomes Heliostar’s second producing asset, alongside its La Colorada mine in Sonora.
By Paul Ploumis
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.
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What makes the San Agustin restart especially important for Heliostar Metals?
Frequently Asked Questions
- What is the significance of first gold at San Agustin?
It marks a key operational milestone, adding a second producing mine to Heliostar’s portfolio and supporting higher company-wide production.
- How much gold is San Agustin expected to produce?
The mine is expected to produce around 45,000 ounces from remaining reserves, including 30,000–32,700 ounces in 2026.
- What is Heliostar’s total gold production guidance for 2026?
Heliostar expects total output of 50,000–55,000 ounces in 2026 from San Agustin and La Colorada combined.
