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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. has signed a binding letter of intent (LOI) with Sailfish Royalty Corp. to establish a 24-month silver stream for cash consideration of US$6 million. The agreement involves Mako delivering 13,500 ounces of silver monthly from its concessions, starting after the first month post-closing. Sailfish has the option to purchase additional silver after 12 months for US$1 million. The transaction, considered a related party transaction, is subject to specific conditions, including due diligence and financing completion. The cash will help Mako repay loans, improving its financial flexibility for future opportunities.
Mako Mining Corp. (OTCQX:MAKOF) plans to consolidate its common shares on a ten-to-one basis, following shareholder approval on July 26, 2022. Currently, there are approximately 657 million common shares outstanding, which will reduce to around 65.7 million after consolidation. CEO Akiba Leisman emphasized that this move aims to attract institutional investors and enhance stock liquidity and valuation. The consolidation requires TSX Venture Exchange approval and will maintain the trading symbol 'MKO'. Expected benefits include increased investor interest and reduced price volatility.
Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) announced on February 7, 2023, the resignation of Mr. Brian Szeto from its board of directors due to his employer's compliance policy changes. CEO Akiba Leisman expressed regret about Szeto's departure but noted his ongoing support for the company and the San Albino project. Mako Mining focuses on the profitable operation of its high-grade San Albino gold mine in Nicaragua and aims to fund exploration across its land package. The company continues to prioritize growth and operational excellence.
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) announced additional high-grade drilling results from the Las Conchitas area of its San Albino-Murra property. The drilling program, with 718 holes totaling 78,641m, revealed significant gold and silver intercepts across three zones: North, Central, and South. Highlights include:
- 16.56 g/t Au and 38.8 g/t Ag over 1.80m (LC-N)
- 33.91 g/t Au and 30.0 g/t Ag over 2.00m (LC-C)
- 12.73 g/t Au and 24.7 g/t Ag over 6.00m (LC-S)
- High-grade silver intercept of 3,792.0 g/t Ag over 1.00m
CEO Akiba Leisman emphasized the potential economic impact of these findings.
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) has appointed Brian Szeto as an independent director, effective January 23, 2023. With over 20 years of experience in mining finance, Szeto previously held significant roles including Vice President at DBRS Morningstar and had a successful career as a mining analyst. His appointment is anticipated to enhance Mako's presence in capital markets and support growth at the San Albino gold mine, known for its high-grade output in Nicaragua. CEO Akiba Leisman emphasized that Szeto's experience will be vital for the company’s future objectives.
Mako Mining Corp. has announced its Q4 2022 production results from the San Albino gold mine in Nicaragua, marking the sixth quarter since declaring commercial production. Highlights include 50,893 tonnes mined yielding 9,990 oz Au at a grade of 6.11 g/t Au and 16,692 oz Ag at 10.20 g/t Ag. The company milled 49,204 tonnes, recovering 11,937 oz Au at 7.55 g/t Au and 18,408 oz Ag at 11.64 g/t Ag. Mako's average realized gold price was $1,726 per ounce. CEO Akiba Leisman expressed confidence in operational optimization, anticipating future consistent throughput at 600 tonnes per day by late Q1 2023.
Mako Mining Corp. (OTCQX: MAKOF) reports promising drill results from the San Albino SW Pit in Nicaragua, confirming several high-grade gold mineralization zones. In 2022, 16,472 meters were drilled with notable intersections including 98.50 g/t Au over 1.9m and 52.66 g/t Au over 2.0m. CEO Akiba Leisman emphasized the potential of this area, anticipating an update to the current resource and plans to commence mining within months. The drilling program aims to define continuity and expand the mineralized zones further.
Mako Mining Corp. (TSXV: MKO; OTCQX: MAKOF) reported financial results for Q3 2022, highlighting $13.6 million in revenue and a net loss of $7 million. Adjusted EBITDA stood at $4 million, while Mine Operating Cash Flow was $3.8 million. Cash costs per ounce sold were $1,018, with all-in sustaining costs at $1,367. Despite lower recovery rates and throughput, the company has invested $4 million in growth exploration. The CEO anticipates a strong Q4, projecting increased throughput, reduced costs, and record gold sales.
Mako Mining Corp. (OTCQX: MAKOF) announced a positive interim Q4 2022 update regarding its San Albino gold mine in Nicaragua. The company has resolved previous recovery issues, achieving a production rate of 539 tonnes per day (tpd) with 85.6% recoveries in October. Mako expects record gold sales in Q4 2022, having sold 5,455 ounces by mid-November. Additionally, a pre-leach thickener was commissioned to enhance throughput, allowing operations to reach 600 tpd without further capital expenditures. Financial results for Q3 2022 will be reported on November 21, 2022.
Mako Mining Corp (TSXV: MKO; OTCQX: MAKOF) has released an update regarding its operations in Nicaragua following new U.S. sanctions imposed on the General Directorate of Mines. The company is conducting an internal review of the impact of these measures but anticipates no material changes to its operations at the San Albino mine. CEO Akiba Leisman reaffirmed the company's commitment to its Nicaraguan operations and local communities. Mako will provide further updates after discussions with U.S. advisors.
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