Heliostar Metals Ltd sets October 7 TSX trading start for HSTR
The company plans to leave the TSX Venture Exchange after Oct. 6, while shareholders keep their existing certificates and security identifiers.
Mara Quinlan
Heliostar Metals Ltd. CVEHSTR OTCMKTSHSTXF FRARGG1 said Monday its common shares will begin trading on the Toronto Stock Exchange at the Oct. 7 market open under the unchanged HSTR symbol. The move takes HSTR off the TSX Venture Exchange after the Oct. 6 close while leaving existing share certificates valid.
Shares rose 2.98 per cent to C$2.42 at the Oct. 5, 4 p.m. EDT close on the TSX Venture Exchange, according to the CVEHSTR quote. At the Oct. 5, 4 p.m. EDT close, the CVEHSTR quote showed about 610,000 shares traded against an average of about 608,000. That Venture trading gives holders a baseline before the switch, though it cannot show what liquidity will look like on the TSX.
Heliostar said shareholders do not need to exchange certificates or direct registration system advices because of the listing change. Its CUSIP and ISIN identifiers will stay the same, and the company did not ask holders to take any other action before the transfer. The release gave no opening price for the shares on the TSX.
The company operates the La Colorada gold mine in Sonora and the San Agustin mine in Durango. It said cash flow from those operations supports development of its Ana Paula project in Guerrero and other projects in Mexico and the United States. The company has set a goal of producing 500,000 ounces of gold annually by the end of the decade.
The Oct. 5 announcement also lists Heliostar's OTCQX trading under HSTXF and Frankfurt trading under RGG1. The announcement gives no new timetable for those overseas quotations. The planned change concerns the Canadian venue for HSTR, whose existing holders retain their shares.
"A big-board TSX listing rewards shareholders with greater trading liquidity, potential for additional index inclusions and broader capital markets exposure to support the growth of the Company." Heliostar chief executive Charles Funk said in the release.
Funk described additional index inclusion as a possibility, and the company offered no estimate of how much trading volume might change after the move. He also pointed to Heliostar's recent inclusion in GDXJ as another step in its push for market exposure. The listing announcement did not give a date or a target for any further index inclusion.
Heliostar expects to deliver an Ana Paula feasibility study in the first half of 2027 and targets production from that project in 2028, according to the release. Those are company plans; its other development projects include Cerro del Gallo in Guanajuato and Goldstrike in Utah.
Heliostar shares are scheduled to start trading on the Toronto Stock Exchange at the Oct. 7 market open.
