Heliostar Metals (“Heliostar”) has announced in line quarterly production of 7.4koz of Gold Equivalent Ounces (“GEO”) with 8.3koz sold (H&Pe 9.6koz) and All In Sustaining Costs (“AISC”) of US$1,541/oz (H&Pe US$1,895/oz). This included a marginal amount of residual production from the El Castillo mine of 150oz which was not in our estimates. Revenue for the period was US$27.9m (H&Pe US$28.8m), with EBITDA of US$10.5m (H&Pe US$9.9m) and NPAT of US$6.09m (H&Pe US$9.4m). The miss was principally due ....
