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) announced positive results from its drilling program at the Las Conchitas area of the San Albino-Murra property. The drilling has confirmed high-grade gold and silver mineralization, with notable highlights including 15.36 g/t Au and 16.0 g/t Ag over 7.2m at Las Conchitas - Central. A total of 63,136 meters were drilled, with promising continuity in gold grades across multiple zones. The results support the potential for expanding mineral resources as Mako prepares to update its resource estimate in Q1 2023.
Mako Mining Corp. (TSXV: MKO; OTCQX: MAKOF) has announced high-grade drill results from the San Albino West Pit, Nicaragua. The drilling program aims to expand the gold deposit size and explore mineralization beyond the permitted limits. To date, 32,436 meters have been drilled, revealing significant intersections, including 64.90 g/t Au over 2.00m. The company plans to initiate mining in this area early next year. CEO Akiba Leisman highlights improved geological understanding, with results validating previous findings. Upcoming results from Las Conchitas are expected within a week.
Mako Mining Corp. (OTCQX: MAKOF) announced promising results from its drilling program at the Las Conchitas area, part of the San Albino-Murra property. Highlights include intersecting high-grade gold and silver, such as 85.10 g/t Au and 153.0 g/t Ag over 1.30m. The drilling has confirmed continuity between two previously separated mineralized zones, expanding the known strike length to over 295m. The company plans to continue drilling, with a maiden resource estimate expected by Q1 2023.
Mako Mining Corp. (OTCQX: MAKOF) reported its Q2 2022 financial results, reflecting revenues of $16.2 million and an Adjusted EBITDA of $7.4 million. The company incurred a net loss of $3.2 million due to $6.8 million in depreciation. Cash costs per ounce sold were $860, while total cash costs were $903, with AISC at $1,121. Exploration expenses totaled $2.7 million. Mako has successfully extended the Wexford loan maturity to March 31, 2024, enabling operational flexibility.
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) announced a new gold-bearing structure named "Crucita" at its San Albino-Murra property, located 1.44 km south of its operational San Albino gold mine. Recent diamond drilling at the Las Conchitas-North area revealed high-grade intersections including 37.28 g/t Au and 34.9 g/t Ag over 2.60 m. The company is currently running five drill rigs and has completed 10,199 meters in its 2022 drilling campaign. CEO Akiba Leisman anticipates ongoing discoveries across their extensive 188 km² land package, emphasizing the potential of their orogenic gold system.
Mako Mining Corp. (OTCQX: MAKOF) reported its Q2 2022 production results from the San Albino gold mine in Nicaragua. A total of 47,220 tonnes were mined, yielding 11,421 ounces of gold at a grade of 7.52 g/t Au. The company milled 49,332 tonnes for 11,576 ounces at a grade of 7.30 g/t Au, achieving a gold recovery of 74.5%. The average realized price per ounce sold was US$1,866. Despite strong production, recovery rates were lower than expected due to carbon contamination. The company is optimizing its processing to improve recovery rates.
Mako Mining Corp. reported significant high-grade drill results from the San Albino West Pit in Nicaragua, revealing gold mineralization over an area of approximately 530m by 470m. Key findings include 42.91 g/t Au over 4.50m in drill hole SA22-615 and additional high-grade intercepts in various holes. This drilling program successfully established geological continuity of previously identified mineral zones, with an updated mineral resource estimate expected early next year. A total of 27,533 meters in drill holes have been completed since 2011.
Mako Mining Corp. (TSXV: MKO, OTCQX: MAKOF) has announced positive drill results from the San Pablo zone at its Las Conchitas-North area. Significant gold and silver grades were reported from the newly discovered Mina Francisco and Tirado veins, with highlights including 51.80 g/t Au and 29.8 g/t Ag over 0.90 m from Mina Francisco. The exploration program, funded by cash flow from the San Albino mine, aims to expand resource potential. A total of 4,670 meters have been drilled in 2022, with further results expected throughout the year.
Mako Mining Corp. (TSXV: MKO; OTCQX: MAKOF) reported its Q1 2022 financial results, highlighting a revenue of $17.3 million and adjusted EBITDA of $8.3 million. The company incurred a net loss of $1.0 million while cash costs were recorded at $797 per ounce sold. The San Albino mine produced 9,580 ounces at a cash cost significantly impacted by rising diesel prices. Mako also invested $1.9 million in exploration and evaluation. Key developments include $4.6 million in loan repayments during the quarter and plans to double production capacity to 1,000 tonnes per day by next year.
FAQ
What is the current stock price of Mako Mng (MAKOF)?
What is the market cap of Mako Mng (MAKOF)?
What is Mako Mining Corp.'s primary focus?
What are Mako's key assets?
How does Mako Mining generate revenue?
What makes San Albino unique?
What is the significance of the Eagle Mountain project?
What is the status of the Moss Mine acquisition?
How does Mako fund its growth initiatives?
What are Mako's competitive advantages?
What are the company's recent exploration highlights?
What is Mako's strategy for long-term growth?
