Welcome to our dedicated page for Mako Mng news (Ticker: MAKOF), a resource for investors and traders seeking the latest updates and insights on Mako Mng stock.
Mako Mining Corp (MAKOF) delivers high-grade gold production through its San Albino mine in Nicaragua while advancing exploration in Guyana and evaluating strategic acquisitions. This news hub provides investors with official updates on operational milestones, resource expansion, and corporate developments.
Access timely reports on quarterly earnings, drilling results, and operational efficiencies from one of the mining sector's most disciplined operators. Track progress across key initiatives including the Eagle Mountain Gold Project and potential expansion into new jurisdictions through carefully vetted acquisitions.
Our curated news collection features verified updates on:
• Production results from active mining operations
• Exploration updates across district-scale land packages
• Strategic partnerships and asset evaluations
• Corporate governance and leadership developments
Bookmark this page for direct access to MAKOF's latest technical reports, financial disclosures, and progress updates from management. Stay informed about this growth-focused miner through comprehensive coverage of its operational excellence and exploration potential.
Mako Mining Corp (TSXV:MKO)(OTCQX:MAKOF) has announced key corporate updates. The company has appointed Steve Parsons as President, who previously served as Officer of the subsidiary Goldsource Mines since its acquisition in July 2024.
The company has granted 740,000 stock options to executive officers, employees, and contractors, with a five-year term expiring April 18th, 2030. These options will vest in 25% installments from 2026 to 2029, with an exercise price of C$4.47.
Additionally, Mako has awarded 502,785 restricted share units with a restricted period ending in 2028, and 145,000 deferred share units to directors, vesting upon service termination.
Mako Mining (MAKOF) reported strong Q1 2025 production results from its San Albino gold mine in Nicaragua. The company achieved record revenue of $31.5 million from total gold sales of 10,817 ounces, benefiting from higher realized gold prices.
Key operational highlights include:
- 48,813 tonnes mined containing 11,495 oz gold at 7.32 g/t
- 53,551 tonnes milled at 608 tonnes per day (22% above capacity)
- 85.3% mill recovery rate for gold
- 46.6:1 strip ratio
The company maintained a strong financial position with a cash balance of $14.2 million as of April 14th, 2025. The quarter also saw the completion of the Moss Mine acquisition, contributing 936 gold ounces from residual leach operations. Additionally, Mako is advancing its Eagle Mountain project in Guyana, targeting H2 2025 for Environmental Impact Statement submission.
Mako Mining (MAKOF) has reported its Q4 and full-year 2024 financial results, highlighting strong performance at its San Albino gold mine in Nicaragua. Q4 2024 delivered record gold sales of $28.9 million, generating $14.7 million in Mine Operating Cash Flow and $4.7 million in Net Income.
The company sold 10,888 oz of gold in Q4 at an average price of $2,670/oz with an All-In Sustaining Cost of $1,352/oz. Full-year metrics showed impressive returns with ROE of 39.3% and ROA of 25.7%. The company achieved $42.2 million in Adjusted EBITDA and earnings per share of $0.27 from 39,001 oz gold sold at an average price of $2,397/oz.
Post year-end, Mako acquired the Moss gold mine in Arizona through its subsidiary for $6.49 million, with net acquisition costs reduced to approximately $2 million after accounting for existing cash, bullion, and bond collateral releases.
Mako Mining Corp (TSXV:MKO)(OTCQX:MAKOF) has completed the acquisition of the Moss gold mine in Arizona's Oatman District for US$6.49 million in cash. The purchase was made through Mako US Corp from Wexford EG Acquisition , acquiring 100% ownership of EGA, which had previously acquired Golden Vertex Corp through bankruptcy proceedings.
Since December 31st, 2024, the mine has produced 1,593 ounces of gold and 11,023 ounces of silver, valued at approximately US$4.8 million and generating net cash of US$3.0 million. Additionally, Trisura Guarantee Insurance Company will release US$1.5 million from environmental bonds, effectively reducing Mako's net acquisition cost to approximately US$2.0 million.
The transaction involves ongoing royalty disputes with Sandstorm Gold (1% net smelter return) and Patriot Gold (3% net smelter return) in the United States Bankruptcy Court. Mining operations have recently resumed after a temporary suspension during bankruptcy proceedings.
Mako Mining Corp. (MAKOF) has received conditional TSX Venture Exchange approval for its proposed acquisition of the Moss Mine in Arizona through purchasing 100% of EG Acquisition from Wexford Capital LP-controlled funds. The acquisition price ranges between US$4.9-6.4 million, depending on royalty extinguishment.
Since taking operational control on December 31st, 2024, EGA has achieved significant milestones: replenished consumables, completed critical maintenance, and prepared to restart mining operations within five weeks. January 2025 operations generated 832 oz. gold and 5,607 oz. silver sales, valued at US$2.6 million, exceeding the initial US$1.6 million investment for maintenance.
Under the proposed terms, all net cashflow from precious metal sales since December 31st, 2024, will benefit Mako. Additionally, Mako expects to receive US$1.5 million in cash collateral from Trisura Guarantee Insurance Company, effectively reducing the acquisition price.
Mako Mining Corp. (MAKOF) has reported significant results from its geotechnical drilling program at the Eagle Mountain Gold Project in Guyana. Key findings include intersections of 2.93 g/t gold over 15.4 metres at Eagle Mountain and 3.73 g/t Au over 31.5 metres at the Salbora Deposit.
The Phase 1 program, completed in late 2024, included eleven drill holes testing saprolite and fresh rock characteristics. A notable channel sample at Salbora returned 8.42 g/t Au over 21.0 metres. The company is conducting this work to finalize engineering parameters and site infrastructure layout for environmental permit applications.
The CEO highlighted that these results match or exceed those defined in the 2024 PEA, which showed an after-tax NPV 5% of US$292 million at US$1,850 gold. The company expects improved economics with current gold prices being nearly $1,000 per ounce higher.
Mako Mining reported strong Q4 2024 production results from its San Albino gold mine in Nicaragua. The company achieved record gold revenue of US$28.8 million with 12,053 oz Au recovered and 10,803 oz Au sold. Mining operations processed 46,733 tonnes at an average grade of 9.73 g/t Au, while the mill operated at 576 tonnes per day, 15% above nameplate capacity, with 85% gold recovery.
Cash balance increased by US$9.5 million to US$14.5 million in Q4. The company mined from five different zones: Las Conchitas South (El Limon 47.5%, Las Dolores 13.5%, Mango 2%), Las Conchitas Central (Cruz Grande 18%) and San Albino (Southwest Pit 19%). Additionally, Mako announced plans to acquire the Moss gold mine in Arizona for US$4.9 million.
Mako Mining Corp. (MAKOF) has announced a non-binding letter of intent to acquire 100% of EG Acquisition (EGA), which will own the Moss gold mine in Arizona. The purchase price ranges from US$4.9 million to US$6.4 million, payable in cash, with closing expected by February 2025.
The acquisition follows a bankruptcy process that eliminated over US$60 million of liabilities associated with the Moss mine. The deal includes the elimination of a silver stream and potential extinguishment of two material royalties. Mako plans to restart mining operations after optimizing the mine plan and debottlenecking the crushing plant.
The company's current cash and gold sales receivables have increased by over US$6 million to nearly US$13 million at year end. A pre-arranged bonding facility will release approximately US$1.5 million of the US$3.0 million held as collateral, effectively reducing the acquisition cost.
Mako Mining reported Q3 2024 financial results with $15.7 million in revenue and $4.3 million in Adjusted EBITDA. The company sold 6,532 ounces of gold at $2,383/oz AISC, with $607/oz related to accelerated pre-strip work. A six-month permit delay for Las Conchitas EIA affected production, resulting in lower head grades (4.2 g/t gold). Despite challenges, the company maintained $5.0 million cash balance and $1.5 million in gold receivables. The company repaid $2.7 million in debt and conducted $1.6 million in stock repurchases.
Mako Mining announces TSX Venture Exchange's acceptance of its normal course issuer bid (NCIB) to purchase up to 3,956,485 common shares, representing 5% of the company's total issued and outstanding shares. The NCIB will run from November 19, 2024 to November 18, 2025. Shares will be purchased for cancellation through TSXV facilities at market price, with Ventum Financial Corp. managing the purchases. The company's board believes the current share price undervalues Mako's business and future prospects, making the share repurchase program a prudent use of funds.
