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Mako Mining Corp. (MAKOF) is a publicly listed gold mining, development, and exploration company operating the San Albino gold mine in Nueva Segovia, Nicaragua. With record gold sales and consistent financial growth, Mako focuses on profitable operations and funding exploration on its district-scale land package. Led by CEO Akiba Leisman, the Company reported strong financial results, including increased Mine Operating Cash Flow and Net Income, positioning itself for further growth and the acquisition of Goldsource Mines.
Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) announced its Q4 2022 financial results, marking the sixth quarter since declaring commercial production at the San Albino gold mine. Key highlights include:
- $16.1 million in revenue
- $7.8 million in Adjusted EBITDA
- $8.8 million in Mine Operating Cash Flow
- $0.8 million net loss, primarily due to depreciation and exploration expenses
- Cash costs at $715/oz sold
- AISC at $1,062/oz sold
Record gold sales of 9,956 ounces were achieved, and the company reported total Mine OCF of $28.8 million for the year. Mako plans to continue growth and debt repayment while transitioning to higher-grade material mining.
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