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.
About Mako Mining Corp.
Mako Mining Corp. (OTCQX: MAKOF, TSX-V: MKO) is a publicly traded gold mining, development, and exploration company with a focus on high-grade, open-pit gold mining. The company operates the San Albino gold mine in Nueva Segovia, Nicaragua, recognized as one of the highest-grade open-pit gold mines globally. Mako also holds a 100% interest in the Eagle Mountain Gold Project in Guyana, a PEA-stage asset with substantial engineering, environmental, and permitting activities underway, and is in the process of acquiring the Moss gold mine in Arizona, a producing asset located in a historically prolific gold district.
Core Operations
Mako's flagship asset, the San Albino gold mine, is a high-grade, open-pit operation that commenced commercial production in 2021. The mine's exceptional ore grades and efficient processing plant enable the company to achieve industry-leading production costs and strong cash flow. San Albino also offers district-scale exploration potential, with ongoing drilling campaigns targeting high-grade extensions and new zones within its land package.
The Eagle Mountain project in Guyana represents a significant growth opportunity. This PEA-stage project has demonstrated robust economics, with an after-tax NPV of $292 million at $1,850 gold prices. Recent geotechnical drilling and channel sampling have confirmed mineralization consistent with or exceeding the resource model, supporting the project's development potential. Mako is advancing permitting and engineering activities to prepare for future production.
In addition, Mako is acquiring the Moss gold mine, an open-pit heap leach operation in Arizona. The acquisition, funded through existing cash flow, will add a producing asset in a low-risk jurisdiction to Mako's portfolio. The company plans to optimize the mine plan and restart mining operations shortly after the acquisition closes.
Competitive Positioning
Mako Mining distinguishes itself through its focus on high-grade deposits, which lower operational costs and enhance profitability. The company's phased development strategy, demonstrated expertise in exploration, and ability to integrate acquisitions position it as a competitive player in the gold mining industry. Its operations in Nicaragua, Guyana, and Arizona provide geographic diversification, balancing high-grade opportunities in emerging markets with stability in established jurisdictions.
Recent Developments
- Eagle Mountain Project: Advanced engineering and environmental studies, including geotechnical drilling and EIA preparation, to support permitting and future production.
- Moss Mine Acquisition: Conditional approval received from the TSXV for the acquisition, with operational control already established and mining activities set to resume within weeks.
- San Albino Exploration: Ongoing drilling campaigns have identified high-grade extensions, further enhancing the mine's resource potential.
Growth Strategy
Mako's growth strategy centers on leveraging cash flow from San Albino to fund exploration and acquisitions, such as Eagle Mountain and Moss. The company is committed to maintaining operational efficiency while pursuing district-scale exploration opportunities. Its disciplined approach to capital allocation ensures that growth initiatives are sustainable and accretive to shareholder value.
Conclusion
With a portfolio of high-grade assets, a proven track record in exploration and development, and a strategic focus on operational efficiency, Mako Mining Corp. is well-positioned for long-term success in the gold mining industry. The company's recent acquisitions and ongoing exploration efforts underscore its commitment to growth and value creation.
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.
Mako Mining Corp. (TSXV: MKO; OTCQX: MAKOF) has announced significant drilling results from its Las Conchitas area at the San Albino-Murra property. The program, utilizing seven diamond drill rigs, aims to evaluate gold mineralization suitable for both open pit and underground mining methods. Highlights include high-grade intersections such as 42.59 g/t Au over 2.10 m and 65.45 g/t Au over 1.80 m. CEO Akiba Leisman emphasized the expanding potential of the San Albino-Murra district, supported by a $17.2 million exploration campaign. Mako plans to continue testing the full 28 km mineralized strike in the upcoming years.
Mako Mining Corp. (TSXV: MKO; OTCQX: MAKOF) released its Q3 2022 production results from the San Albino gold mine. The mine reported the extraction of 10,531 ounces of gold from 52,084 tonnes mined at an average grade of 6.28 g/t Au. Milling operations processed 44,452 tonnes with recovery rates improving to 86.4% post-optimizations. The company anticipates increased recovery in Q4 and reported a robust operating cash flow alongside a $1.3 million monthly increase in exploration expenditures.
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) reported high-grade drill results from the San Albino West Pit in Nicaragua, confirming gold mineralization over an area significantly larger than previously estimated. The company completed 13,284 meters in 99 drill holes in 2022, identifying new high-grade intercepts, including 36.65 g/t Au over 3.1 m. These results indicate potential for increased mineral resources and better accessibility for open-pit mining. The drilling aims to expand the San Albino gold deposit and enhance operational profitability.
Mako Mining Corp. reported operational updates on October 3, 2022, revealing Q2 2022 recoveries at 74.5%, lower than the 86% from 2019 tests. Post improvements initiated on August 10, recoveries averaged 85.9%. Key upgrades included reducing preg-robbing materials and optimizing mill throughput and cyanide levels. Despite lower recoveries, Mako generated $7.5 million in Mine Operating Cash Flow for Q2 2022, allowing $2.7 million for growth exploration. Future improvements include resuming pre-leach thickener operations to enhance efficiency.
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