Heliostar Eyes Gold Production to 300,000 Ounces by End of Decade

Heliostar Metals (TSXV:HSTR,OTCQX:HSTXF,FWB:RGG1) is on track to significantly ramp up its gold production, with plans to grow from 30,000 ounces to 300,000 ounces annually by the end of the decade.

“Our strategy is powered by the fact that we are a producer, but we really are a development and growth company,” said Stephen Soock, vice president of investor relations and development at Heliostar, in an interview with the Investing News Network.

The company’s rapid expansion is being driven by its portfolio of Mexican assets acquired from Argonaut Gold, which Soock described as “the deal of a lifetime” that came at “the right timing, right situation, right contrarian view on Mexico.”

Soock said Heliostar’s operations are currently generating about $15 million a quarter in operational cashflow, much of which is being reinvested into near-term growth opportunities.

The company plans to use that cashflow to fund construction at its Ana Paula project “without issuing another share,” a move that Soock said will help avoid equity dilution.

Watch the full interview with Soock above.