Latest news for Heliostar Metals (OTC:HSTXF) Stock

Heliostar Metals Ltd is a junior exploration and development company with a portfolio of high-grade gold projects in Alaska and Mexico. It is engaged in the acquisition, exploration, and development of mineral properties in North America The Company has one reportable segment being the exploration and evaluation of mineral properties. The company's assets and liabilities are held within Canada, Mexico and the United States.

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Gold Sector Gains CA$6 Million Boost with Strategic Private Placement

Region,Del,Maule,,Chile,-,Miner,Inside,The,Access,Tunnel

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Gold mining companies are aggressively merging to take advantage of high gold prices and are also eyeing copper mines to buy.

Gold Mining M&amp;A Heats Up As Rising Metal Prices Boost Cash (CORRECTED)

HELIOSTAR METALS LTD by Heliostar Metals Ltd.

Heliostar Metals Ltd

U.S.-listed shares of Chinese EV startups Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), and Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) rose as high as 7.3% in premarket trading on Tuesday after President Donald Trump&#8216;s inauguration even as shares of California-based EV startup Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) fell.
What Happened: Trump on Monday revoked a 2021 executive order signed by former President Joe Biden that sought to ensure that 50% of new vehicles sold in the U.S. by 2030 are electric. The new President also said that his administration would consider <a href="https://www.benzinga.com/tech/25/01/43090016/which-evs-might-lose-7500-ev-tax-credit-under-trump-administration">ending the $7500 federal tax credit available on select EV purchases</a>, posing a threat to the EV industry and dragging Rivian shares 1.1% lower in pre-market trading on Tuesday. 
Chinese EV manufacturers, however, rose in pre-market trading as Trump did not target China in his inauguration speech or impose tariffs on Beijing. Trump, instead said that he could impose 25% tariffs on Canada and Mexico on Feb. 1. 
To add to the Chinese EV startups&#8217; rally, Nio saw 2800 brand vehicle registrations in China for the week of January 13-19, up 86.7% as compared to the previous week. 
Li Auto had 9500 insurance registrations in the period, up 25% from the week before,
Xpeng also saw 9400 insurance registrations in the week, marking a jump of 27% from the week before.
Meanwhile, Tesla: Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock rose 1.85% in pre-market trading on Tuesday, despite Trump&#8217;s announcements about EVs, likely owing to investor expectations of Tesla CEO Elon Musk&#8216;s close affinity to Trump aiding the company and enabling a favorable regulatory environment for its vision of deploying autonomous vehicles on public roads this year.
Musk has also previously dismissed the impact of a drop in EV tax credit for Tesla saying that the impact of the elimination of subsidies&nbsp;<a href="https://www.benzinga.com/news/24/07/39934750/trump-presidency-and-ira-cut-would-be-devastating-for-competitors-says-elon-musk-long-term-probably" target="_blank" rel="noreferrer noopener">would only be slight for Tesla</a>&nbsp;but devastating for its competitors. The elimination of EV subsidies would probably help Tesla in the long term, he added.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43090016/which-evs-might-lose-7500-ev-tax-credit-under-trump-administration">Here Are The EVs Which Could Lose $7,500 EV Tax Credit Under Trump Administration</a></li>
</ul>
Photo courtesy: Shutterstock

Politics

Tech

RIVN

TSLA

XPEV

Tesla's Chinese Rivals Li, Xpeng, Nio Surge While Rivian Declines In Pre-Market As Trump Revokes Biden's EV Target

Morgan Stanley analyst Joseph Moore downgrades Astera Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) from Overweight to Equal-Weight and maintains the price target from $142 to $142.

Downgrades

Price Target

Analyst Ratings

ALAB

Morgan Stanley Downgrades Astera Labs to Equal-Weight, Maintains Price Target to $142

Morgan Stanley analyst John Glass downgrades Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) from Equal-Weight to Underweight and lowers the price target from $22 to $14.

Morgan Stanley Downgrades Wendy's to Underweight, Lowers Price Target to $14

<a href="https://www.wsj.com/real-estate/commercial/the-u-s-government-has-a-landlord-and-trump-isnt-a-fan-872c469e" title="https://www.wsj.com/real-estate/commercial/the-u-s-government-has-a-landlord-and-trump-isnt-a-fan-872c469e">https://www.wsj.com/real-estate/commercial/the-u-s-government-has-a-landlord-and-trump-isnt-a-fan-872c469e</a>

iShares Trust Dow Jones US Real Estate Fund Index

The Wall Street Journal Reported The Trump Administration Is Considering Selling Two-thirds Of The Federal Government's Office Stock To The Private Sector

Morgan Stanley analyst John Glass downgrades Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) from Overweight to Equal-Weight and lowers the price target from $158 to $140.

Morgan Stanley Downgrades Yum Brands to Equal-Weight, Lowers Price Target to $140

Shares of INNOVATE Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VATE#NYSE">VATE</a>) rose sharply in today's <a href="https://www.benzinga.com/quote/VATE">pre-market trading</a>.
INNOVATE announced the FDA approval of MediBeacon&#8217;s TGFR System For accurate kidney function testing.
INNOVATE shares jumped 19.4% to $6.10 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>EON Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EONR#NYSE">EONR</a>) gained 89.2% to $1.93 in pre-market trading.</li>
<li>Dogwood Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWTX#NASDAQ">DWTX</a>) rose 62.5% to $3.04 in pre-market trading after falling 3% on Friday.</li>
<li>Crown Electrokinetics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRKN#NASDAQ">CRKN</a>) rose 43.5% to $0.1794 in pre-market trading. Crown Electrokinetics shares jumped around 57% on Friday after the company announced it entered into an exclusive partnership with Electro Scan.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) gained 30.7% to $2.33 in pre-market trading. Trio Petroleum said as of Jan. 7, it has fully repaid senior secured convertible promissory notes with aggregate principal of $1.6 million.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) gained 22.9% to $43.21 in pre-market trading.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) gained 22.8% to $0.9185 in pre-market trading.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) gained 22.6% to $1.63 in pre-market trading.</li>
<li>First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) gained 12.7% to $7.09 in pre-market trading. First Foundation will release its fourth quarter 2024 earnings results before the opening bell on Thursday, Jan. 30.</li>
<li>Riskified Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSKD#NYSE">RSKD</a>) gained 9.2% to $5.49 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Canoo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>) fell 72.3% to $0.3736 in pre-market trading after the company announced Chapter 7 bankruptcy filing, ending operations effective immediately.</li>
<li>Orangekloud Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORKT#NASDAQ">ORKT</a>) shares fell 30.3% to $0.78 in pre-market trading after dipping 72% on Friday.</li>
<li>Treace Medical Concepts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMCI#NASDAQ">TMCI</a>) fell 29.4% to $6.14 in pre-market trading after gaining over 5% on Friday.</li>
<li>IF Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IROQ#NASDAQ">IROQ</a>) shares dipped 29.4% to $18.00 in pre-market trading after gaining 6% on Friday.</li>
<li>TechTarget, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTGT#NASDAQ">TTGT</a>) shares tumbled 19.5% to $14.00 in pre-market trading.</li>
<li>Elicio Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELTX#NASDAQ">ELTX</a>) shares fell 19.4% to $5.10 in pre-market trading.</li>
<li>Baird Medical Investment Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDMD#NASDAQ">BDMD</a>) fell 18.2% to $7.24 in today's pre-market trading after jumping 63% on Friday.</li>
<li>Rayonier Advanced Materials Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYAM#NYSE">RYAM</a>) declined 17.1% to $6.24 in pre-market trading</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) fell 16.2% to $50.98 in pre-market trading after the company announced weak quarterly earnings.</li>
<li>SWK Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKH#NASDAQ">SWKH</a>) dipped 14.3% to $14.00 in pre-market trading.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/01/43089042/3m-netflix-and-3-stocks-to-watch-heading-into-tuesday">3M, Netflix And 3 Stocks To Watch Heading Into Tuesday</a></li>
</ul>

Pre-Market Outlook

Movers

ATPC

BDMD

CGBS

CRKN

DWTX

New Oriental Education & Technology Group

ELTX

EONR

FFWM

GOEV

IROQ

ORKT

RSKD

RYAM

SWKH

TMCI

TPET

TTGT

VATE

Why INNOVATE Shares Are Trading Higher By Over 19%; Here Are 20 Stocks Moving Premarket

Amazon.com Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) autonomous driving unit Zoox is reportedly looking to begin offering rides to the public &#8220;quite soon.&#8221;
What Happened: Zoox co-founder Jesse Levinson <a href="https://www.cnbc.com/2025/01/17/amazon-zoox-plans-commercial-expansion.html">told</a> CNBC that the company intends to offer rides to the public and significantly grow its fleet of self-driving vehicles in 2025.
Zoox is currently testing its vehicles on the roads of San Francisco, Las Vegas, and Foster City, California. 
According to CNBC, the company will first launch commercial services in Las Vegas, followed by San Francisco. The company will launch an &#8220;early rider program&#8221; in Las Vegas in the coming months and open rides to the public later this year, the report said.
Zoox is also eyeing expansion to Miami and Austin, Levinson told CNBC, without detailing a timeline. 
"I don't want to imply that it'll be a commercially meaningful business this year … but it's going to be useful in terms of customers will be able to get value out of it and actually use it to go places. We're excited for that," Levinson told CNBC. "We've taken a pretty conservative and steady approach to scaling and rolling out, just because of the safety-critical nature."
Why It Matters: Zoox, once operational, will be up against Alphabet&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo which is already operating its robotaxis in Phoenix and Los Angeles.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is also looking to join the robotaxi business in 2025. During the company's third-quarter earnings call last year, Elon Musk said that the company expects to start a ride-hail service in Texas and California starting next year, <a href="https://www.benzinga.com/news/24/10/41484511/palo-alto-may-open-streets-to-tesla-robotaxis-but-california-regulators-will-decide-fate" target="_blank" rel="noreferrer noopener">subject to regulatory approval</a>, with Model 3 and Model Y vehicles equipped with its full self-driving (FSD) driver assistance technology.
However, the vehicles might not all operate as driverless robotaxis but with a driver as some states demand it until the company touches certain milestones in terms of miles and hours driven, the company then said. Musk, known for overestimating his company&#8217;s products, expressed confidence about the&nbsp;<a href="https://www.benzinga.com/top-stories/24/10/41279865/elon-musk-may-unveil-teslas-robotaxi-but-consumers-respond-with-ehhh-new-study-reveals-skepticism-ne" target="_blank" rel="noreferrer noopener">company operating driverless paid rides sometime in 2025</a> despite its FSD technology not achieving fully autonomous driving yet. 
Levinson in October dismissed the possibility of Tesla deploying autonomous vehicles without safety drivers in California this year,&nbsp;<a href="https://www.benzinga.com/news/24/10/41645383/elon-musk-slams-zoox-co-founder-over-fsd-criticism-your-company-would-be-dead-already-if-not-for-ama" target="_blank" rel="noreferrer noopener">alleging that the EV giant&nbsp;</a>lacks a technology that works.
Tesla is faced with a lot of regulatory hurdles that they haven&#8217;t even started trying to climb yet, Levinson&nbsp;<a href="https://www.youtube.com/watch?v=RwFzIm-M6TU" target="_blank" rel="noreferrer noopener">said</a>&nbsp;at the TechCrunch Disrupt 2024 event in San Francisco. But the fundamental problem, he said, is that Tesla doesn&#8217;t have a &#8220;technology that worked.&#8221;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43090016/which-evs-might-lose-7500-ev-tax-credit-under-trump-administration">Here Are The EVs Which Could Lose $7,500 EV Tax Credit Under Trump Administration</a></li>
</ul>
Photo courtesy: Zoox

Media

AMZN

GOOG

GOOGL

Amazon's Zoox Eyes Joining Leagues Of Waymo In 2025, To Offer Rides To Public 'Quite Soon'

Macro Economic Events

Econ #s

Economics

Eurozone ZEW Economic Sentiment For January 18.0 Vs. 16.9 Est.; 17.0 Prior

Germany ZEW Economic Sentiment For January 10.3 Vs. 15.2 Est.; 15.7 Prior

Morgan Stanley analyst John Glass upgrades Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) from Equal-Weight to Overweight and raises the price target from $205 to $213.

Upgrades

TXRH

Morgan Stanley Upgrades Texas Roadhouse to Overweight, Raises Price Target to $213

Germany ZEW Current Conditions For January -90.4 Vs. -93.1 Est.; -93.1 Prior

MBWM

Mercantile Bank Corporation Says Overall Financial Standing And Commercial Loan Funding Will Allow Company To Meet Challenges Arising From Changing Operating Environments

Mercantile Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NASDAQ">MBWM</a>) reported quarterly earnings of $1.22 per share which beat the analyst consensus estimate of $1.14 by 7.02 percent. This is a 2.4 percent decrease over earnings of $1.25 per share from the same period last year. The company reported quarterly sales of $58.500 million which beat the analyst consensus estimate of $57.378 million by 1.96 percent. This is a 2.72 percent increase over sales of $56.949 million the same period last year.

Earnings

Earnings Beats

Mercantile Bank Q4 2024 GAAP EPS $1.22 Beats $1.14 Estimate, Sales $58.500M Beat $57.378M Estimate

Net interest income was Baht 149,376 million, a slight increase of Baht 932 million or 0.63% from the previous year partly due to limited loan growth in line with the economic situation and the enhancement of credit underwriting processes to ensure quality lending. Net interest margin ratio stood at 3.64%, a slight decrease from the previous year. Non-interest income was Baht 48,570 million, an increase of Baht 4,361 million or 9.86% mainly due to increased fee income from customer's wealth management service through the offering of comprehensive financial products from the Bank and its subsidiaries, as well as partners. Additionally, there was an increase in gains from financial instruments measured at fair value through profit or loss and investment income, along with increased revenue from foreign exchange transactions which were in line with the recovery of tourism.

KPCPY

Kasikornbank Public Company Q4 Net Interest Income Baht 36,345M Down 6.5% YoY; EPS Bhat 4.43 Up 11.9% YoY

Mercantile Bank Corporation Declared Regular Quarterly Cash Dividend Of $0.37 Per Common Share, Which Is  5.7% Higher Than Cash Dividends Paid During Q1 Of 2024; Dividend Is Payable On March 19, 2025

General

Know Labs Forms New Business Unit To Cater To intellectual Property Portfolio

Editor&#8217;s Note: This story has been updated to include premarket price movements.
MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares dropped 3.43% in Tuesday premarket, falling to $382.90 as cryptocurrency markets reacted to President Donald Trump&#8216;s inauguration speech that notably <a href="https://www.benzinga.com/25/01/43086698/crypto-market-plunges-after-trumps-inaugural-speech-fails-to-mention-digital-assets">omitted any mention of digital assets</a>.
What Happened: The enterprise software company, which holds over $45 billion in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), had seen its stock surge 8.04% to $396.50 on Friday amid optimism about Trump&#8217;s anticipated crypto-friendly policies. 
The company&#8217;s executive chairman Michael Saylor attended a &#8220;Crypto Ball&#8221; last Friday where he met with Trump&#8217;s incoming cabinet members, fueling speculation about <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43078515/michael-saylor-meets-trumps-cabinet-at-crypto-ball-what-does-the-bitcoin-bulls-cryptic-post-indicate">favorable cryptocurrency regulations</a>.
However, Trump&#8217;s inaugural address focused instead on traditional assets, declaring the start of a &#8220;Golden Age of America&#8221; &#8211; a reference that prompted Bitcoin critic Peter Schiff to highlight the president&#8217;s apparent preference for gold over cryptocurrency. 
See Also: <a href="https://www.benzinga.com/25/01/43088034/bitcoin-ethereum-dogecoin-retrace-from-pre-inauguration-highs-as-trumps-address-disappoints-analyst-highlights-possibility-of-btc-consolidation-in-101k-106k-range">Bitcoin, Ethereum, Dogecoin Retrace From Pre-Inauguration Highs As Trump Skips Crypto Mention: Analyst Highlights BTC Consolidation In $101K-$106K Range</a>
Why It Matters: The speech&#8217;s omission of digital assets triggered a broader <a href="https://www.benzinga.com/25/01/43088563/bitcoin-vs-gold-peter-schiff-decodes-trumps-golden-age-reference-in-inaugural-speech">crypto market decline</a>, with Bitcoin falling from $106,000 to $101,775.
The selloff comes as Trump named Mark Uyeda as acting U.S. Securities and Exchange Commission chair, replacing Gary Gensler. 
The firm has been purchasing Bitcoin for ten consecutive weeks, according to its public disclosures.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43088840/donald-and-melania-trump-memecoins-crash-after-presidential-inaugurationfirst-couples-crypto-wealth-plunges-36">Donald And Melania Trump Memecoins Crash, Erode Billions In Investors&#8217; Wealth</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Equities

$BTC

MSTR

MicroStrategy Drops Nearly 4% In Tuesday Premarket After Trump's Inauguration Speech Sidelines Cryptocurrency, Bitcoin Retreats Below $102K (UPDATED)

Keefe, Bruyette &amp; Woods analyst Wood Lay initiates coverage on Firstsun Capital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSUN#NASDAQ">FSUN</a>) with a Outperform rating and announces Price Target of $46.

Initiation

FSUN

Keefe, Bruyette & Woods Initiates Coverage On Firstsun Capital with Outperform Rating, Announces Price Target of $46

Highlights and Key Items:
<ul>
<li>Recorded full year 2024 sales volumes of 24,100 to 24,600 working interest ("WI") barrels of oil equivalent per day ("BOEPD"), at the midpoint of its guidance range of 23,500 to 25,100 WI BOEPD;
<ul>
<li>Full year 2024 sales volumes were 19,400 to 19,800 net revenue interest ("NRI") BOEPD, at the midpoint of the Company's guidance range of 18,800 to 20,300 NRI BOEPD;</li>
</ul>
</li>
<li>Generated Q4 2024 sales volumes of about 23,600 to 24,000 WI BOEPD, or 19,100 to 19,500 NRI BOEPD, both within guidance;</li>
<li>Produced between 24,550 and 25,050 WI BOEPD for full year 2024, in line with the midpoint of its full year guidance range of 24,100 to 25,400 WI BOEPD;
<ul>
<li>Full year 2024 production volumes were 19,800 to 20,200 NRI BOEPD, above the midpoint of the Company's guidance range of 19,300 to 20,600 NRI BOEPD; and</li>
</ul>
</li>
<li>Delivered Q4 2024 production of about 25,100 to 25,600 WI BOEPD, or 20,600 to 21,000 NRI BOEPD, in line with guidance.</li>
</ul>

VAALCO Energy Reports Record 2024 Sales Volumes Of 24,100-24,600 BOEPD, Exceeding Guidance Midpoints

New Oriental Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) reported quarterly adjusted earnings of $0.22 per share which missed the analyst consensus estimate of $0.30 by 26.67 percent. This is a 24.14 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $1.04 billion which beat the analyst consensus estimate of $1.03 billion by 0.78 percent. This is a 19.37 percent increase over sales of $869.60 million the same period last year.

Earnings Misses

New Oriental Education Q2 Adj $0.22 Misses $0.30 Estimate, Sales $1.04B Beat $1.03B Estimate

Heliostar Announces C$5M Non-Brokered Private Placement

Heliostar announces C$5M private offering

Heliostar to acquire gold portfolio of producing mines and development projects in Mexico for $5M

Heliostar Metals to get up to $10M through debt facilities

Heliostar Metals: Gold Producer With Growth Potential

Franklin Gold And Precious Metals Fund Q3 2024 Commentary

These mining stocks are cheaper than the topsoil in your backyard.

Cheaper Than Dirt

MoneyShow's Best Investment Ideas For 2025: Part 4

BELGF

BRVMF

BYDDF

BYDDY

CBGZF

CELTF

CGLCF

CTGO

CTYMF

CXBMF

DOLLF

ESGFF

GFIOF

GMINF

GRLGF

GYYSF

PSIX

RYAAY

SPGI

SVLKF

VZLA

WGXRF

ZIJMF

ZIJMY

Press Releases

Heliostar Receives Regulatory Approval for Acquisition of Mexico Business Unit from Florida Canyon Gold Inc.

Heliostar Hits 16m Grading 16.7 g/t Gold in New Zone with Step-Out Drilling at Ana Paula

Heliostar Announces Closing of US$10M Debt Facilities to Support Acquisition of Production Assets

Heliostar Announces Closing of Acquisition of Producing Mines and Development Projects in Mexico

Heliostar Announces 2024 Production Guidance for Acquired Mines

Heliostar Announces First Results from 2024 Drilling Program at La Colorada Mine

Heliostar Drills 71.8 g/t Gold over 16.1 metres in the High Grade Panel at Ana Paula, Mexico

Heliostar Metals Adds to Board of Directors

Plans To Restart Mining Operations at La Colorada Mine, Mexico

Heliostar Files Technical Reports on Mines and Development Project Recently Acquired in Mexico

TSXV:HSTR

Heliostar Metals

Source: <a href="https://www.streetwisereports.com/article/2024/10/11/gold-sector-gains-ca-6-million-boost-with-strategic-private-placement.html?utm_medium=feed">Streetwise Reports 10/11/2024</a>

Heliostar Metals Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HSTXF#OTC">HSTXF</a>) announced a private placement financing of 10,000,000 units priced at CA$0.60 per unit on October 7, 2024. The company&#39;s intervention was to raise CA$6 million in gross proceeds. Each unit includes one common share and a half-share purchase warrant, with each full warrant exercisable at CA$0.90 per share for a two-year period following the close of the offering.

The entire placement is expected to be subscribed to by Eric Sprott through his affiliated company, 2176423 Ontario Ltd. The transaction is set to close around October 11, pending customary conditions and approval from the TSX Venture Exchange. The net proceeds from the placement are designated for working capital and general corporate purposes, and all issued securities will carry a four-month and one-day hold period in line with securities regulations.

<h2>Precious Metals Shine Amid Economic and Technical Indicators</h2>

Gold&#39;s position remained positive as of October 2024, supported by broad trends in both demand and price levels. According to The Speculative Investor on October 7, analysts anticipated that the upcoming U.S. presidential election, regardless of the outcome, would likely exert a downward trend on the U.S. dollar, effectively supporting the gold market over the next year. &quot;Both Kamala Harris and Donald Trump espoused policies that would be bearish for the US$ and bullish for gold&quot; the report noted, pointing to potential ongoing upward momentum for the precious metal.

On the technical side, The Daily Gold report on October 6 highlighted robust signals within gold&#39;s recent chart performance. &quot;The monthly chart remained very strong for Gold, with strength shown in the last three candles all closing near the month&#39;s highs&quot; illustrating resilience and a potentially extended upward trend. This analysis showed support for gold reaching toward a projected level of US$3,000, with strong momentum over recent months signaling growth potential.

In silver, The Daily Gold report further noted a strong September performance, where the metal gained 8% and closed at an 11-year high, overcoming recent technical barriers from 2020 and 2021. Silver now faces substantial resistance around US$32 to US$35 but could trend upward to US$36 or US$37.

<h2>Key Developments Fuel Heliostar&#39;s Expansion Plans</h2>

This CA$6 million financing aligns with Heliostar&#39;s strategic growth ambitions, with influential investor Eric Sprott&#39;s involvement supporting the company&#39;s drive to become a prominent mid-tier precious metals producer. According to Heliostar&#39;s October 2024 investor presentation, the company has focused on advancing its diverse portfolio, which now includes two producing mines and multiple developmental assets in Mexico and Alaska. Heliostar has prioritized resource growth and development, with significant initiatives underway to expand output from existing resources. This includes the Creston pit cutback at La Colorada, a project containing probable reserves of 220,000 ounces of gold and 4.1 million ounces silver.

Further drilling and development have also resumed at the high-grade Ana Paula project, where Heliostar aims to increase resource size and explore connections between high-grade zones. A feasibility study for Ana Paula is anticipated for completion by the end of 2025.

In line with its growth strategy, Heliostar continues to make cost-effective acquisitions, including the US$10 million purchase of the Ana Paula project in 2023 and a recent US$5 million investment in Argonaut&#39;s Mexican assets. These acquisitions are pivotal in Heliostar&#39;s goal to achieve annual production capacity of over 150,000 ounces of gold through a phased development approach. This financing and resource development momentum underscores Heliostar&#39;s commitment to establishing a robust production base, strategically positioning the company for long-term growth and value creation.

<h2>Ownership and Share Structure</h2>

As of October 10, Refinitiv lists ownership for Heliostar as 30.31% for institutions, 2.31% held by management and insiders, and 1.52% with corporations. The rest is retail.

Heliostar, as of the date of this writing, has a market capitalization of CA$126.68 Million and 196.29 million free float shares.

Important Disclosures:

1) James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.

2) This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

Editor&#8217;s name: This story has been updated to correct the spelling of Alamos Gold CEO John McCluskey&#8217;s name. 



Gold mining companies are ramping up <a href="https://www.benzinga.com/m-a/24/08/40309407/gold-fields-acquires-osisko-mining-for-1-57b-secures-control-over-highly-prospective-windfall-projec">M&amp;A activity</a> as record gold prices boost the free cash flow they can use to make deals.



As older mines become depleted and mining costs rise, quickly adding ounces in the ground is tempting, but it also adds the risk of paying too much or having trouble incorporating assets.



In the latest merger in the gold mining sector, Gold Fields Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) said it plans to buy Osisko Mining Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OBNNF#OTC">OBNNF</a>) for $1.57 billion in cash, giving the acquirer full ownership of the Windfall gold project in Canada.



&#8220;Deposits with the scale and quality of Windfall, combined with a world-class jurisdiction like Québec, are extremely rare," Gold Fields CEO&nbsp;Mike Fraser said in a prepared statement.



Also Read: <a href="https://www.benzinga.com/news/earnings/24/08/40349152/barrick-ceo-on-high-gold-prices-why-he-says-the-miner-is-undervalued-you-get-a-lot-for-free">Barrick CEO On High Gold Prices, Why He Says The Miner Is Undervalued: &#8216;You Get A Lot For Free&#8217;</a>



As gold companies rake in free cash flow from high gold prices, a big question this earnings season has been how they will allocate those funds, Bank of America analysts said in a note. Options include returning money to shareholders with dividends or share buybacks, exploring for gold and developing mines themselves, or buying other miners to bulk up on deposits quickly.



"Depleting resources, declining supply in old mines and the lack of new mines have been inherent threats to the industry," a Zacks Equity Research note said. "Due to the scarcity of discoveries and {exhausting of) existing resources, miners prefer building up reserves through acquisitions rather than digging new ones that are risky and capital-intensive."



On Friday, gold futures hit a record above $2,500 per ounce amid expectations of Federal Reserve rate cuts. The surge in the precious metal boosted gold mining stocks, with the&nbsp;VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rising 3.08% in Friday afternoon trading, as of last check.



<h1 class="wp-block-heading">A Feeding Frenzy for Assets</h1>



Gold deals last year included Pan American Silver Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NASDAQ">PAAS</a>) and Agnico Eagle Mines Ltd.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) purchase of Yamana Gold Inc. in a $4.8 billion cash-and-stock deal. But the blockbuster was the biggest-ever gold merger when Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) bought Newcrest Mining Ltd. for nearly $17 billion.



The Newmont-Newcrest deal is sparking further interest in gold M&amp;A, as Newmont said it intends to sell eight mines, including two it acquired from Newcrest, to help pay down debt and focus on top-tier mines and a two-year share repurchase program.&nbsp;



Newmont CEO Tom Palmer in a recent conference call said 20 parties made bids for its Akyem property in Ghana, and seven of those companies are preparing bids for the second phase of the sale process.&nbsp;



"We're certainly seeing a competitive process and good value coming through," he said.



Meanwhile, the company had 67 parties participate in the first phase of the sales process for its&nbsp;Cripple Creek &amp; Victor, Éléonore, Porcupine, Musselwhite and Coffee mines in Canada. There were "around" 24 bids submitted, he said.



"We've had a range of bids, from a single asset to a bundle of assets to the full portfolio," Palmer said. "And we are busily now having received those bids just in recent days, working through a process of assessing those, and determining, which parties we'll take into Phase 2. There's some very nice competition in that process."



In another example of how M&amp;A begets more M&amp;A, Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) last month closed a $325 million all-stock deal for Argonaut Gold. Assets that Alamos didn't want were spun out and sold to Heliostar Metals Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HSTXF#OTC">HSTXF</a>) and Integra Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITRG#NYSE">ITRG</a>).



<h1 class="wp-block-heading">Copper to Continue to Play a Role</h1>



A trend in gold mining has been gold companies accumulating substantial amounts of copper. Copper is often found alongside gold in the earth's crust, and copper mine lives can run into decades, giving gold shareholders the promise of cash flow if gold deposits wane.



Additionally, copper is increasingly attractive to both base and precious metals mining companies as experts estimate demand for the metal will continue increasing as nations electrify their economies. Copper is widely used in wiring and electric vehicle batteries.



One of the reasons Newmont bought Newcrest was the latter's large holdings of copper, as the latter added nearly 50 billion pounds of copper reserves and resources to Newmont's books in one fell swoop.



In 2023, Agnico Eagle bought a 50% interest in a Mexican copper-zinc project from Teck Resources Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>).



Meanwhile, Barrick Gold Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)&nbsp;is spending nearly $2 billion to expand a copper mine in Zambia and $7 billion to build a copper and gold mine in Pakistan, with new production from both expected to begin in 2028.&nbsp;



John McCluskey, CEO of Alamos Gold, told Benzinga he thinks the largest gold companies will continue to scoop up copper assets as part of a broader decades-long gold M&amp;A trend.



"At the major end, you're going to find that," he said.



Now Read:&nbsp; • <a href="https://www.benzinga.com/government/24/08/40303994/global-gold-demand-hits-record-in-q2-as-investors-push-price-higher" target="_blank" rel="noreferrer noopener">Global Gold Demand Hits Record in Q2 As Investors Push Price Higher</a>



Benzinga Mining is the bridge between mining companies and retail investors. Reach out to&nbsp;<a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a>&nbsp;to get started!



Photo: Underground gold and copper mine. Photo by Jose Luis Stephens via Shutterstock.

Gold Mining M&A Heats Up As Rising Metal Prices Boost Cash (CORRECTED)

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