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. (TSXV: MKO; OTCQX: MAKOF) announced its Q1 2022 production results from the San Albino gold mine in Nicaragua. In this quarter, 49,780 tonnes were mined, yielding 11,577 ounces of gold at a grade of 7.23 g/t Au. The mill processed 46,869 tonnes, recovering 10,843 ounces of gold with an 85.6% recovery rate. The company sold 9,580 ounces at an average price of US$1,870 per ounce. CEO Akiba Leisman highlighted improvements in throughput, operating cash flow, and the ongoing optimization of the mill, indicating strong potential for future production.
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) reported strong Q4 2021 results, with $16.6 million in revenue and $9.4 million in Mine Operating Cash Flow. The company achieved a net income of $3.2 million while maintaining cash costs of $589 per ounce sold. Exploration expenses totaled $1.7 million, contributing to a robust financial position. Significant principal repayments of $7.1 million since Q4 2021 reflect the company’s commitment to financial health and plans to double processing capacity to 1,000 tonnes per day by next year.
Mako Mining Corp. (TSXV: MKO; OTCQX: MAKOF) announced promising results from its exploration of the La Segoviana Concession, revealing high-grade gold mineralization at four prospects: El Silencio, La Reforma, San Luis-Caballo, and Minas America. Sampling yielded impressive grades, with La Reforma reaching up to 105.70 g/t Au over 1.5m. The company has secured surface rights for La Reforma, aimed at expediting development. A planned 7,000m drilling program will commence in the latter half of 2022 to further explore the region's potential.
Mako Mining Corp. (OTCQX: MAKOF) announced promising drill results from the Las Conchitas-South area of its San Albino-Murra property in Nicaragua. Notable highlights include:
- 138.29 g/t Au and 99.0 g/t Ag over 1.45 m in drill hole LC21-432.
- 74.31 g/t Au and 38.1 g/t Ag over 0.80 m in LC21-415, demonstrating a 30m strike extension.
- 31.00 g/t Au and 14.9 g/t Ag over 1.00 m in LC21-419, confirming mineralization extension.
CEO Akiba Leisman emphasized these results suggest significant potential for the Las Conchitas maiden resource estimate by year-end.
Mako Mining Corp. (TSXV: MKO) (OTCQX: MAKOF) announced positive results from expansion drilling at its San Albino Mine in Nicaragua, confirming high-grade mineralization. The company approved a US$17.2 million exploration program funded through mine cash flow, planning 110,080m of drilling. Enhanced resource potential was highlighted with significant gold and silver intersections, including 43.73 g/t Au over 2.00m. The appointment of Paolo Durand as Vice President of Corporate Development was also announced, supporting the company's growth strategy.
Mako Mining Corp. (TSXV: MKO; OTCQX: MAKOF) has updated its capital structure as of February 8, 2022. Since Q3 2021, the company cancelled 37.3 million warrants and 12.34 million options unexercised. In February 2022, 1,503,800 RSUs were granted to executives and 1,318,400 DSUs to non-executive directors. The company repaid US$5.3 million of principal to Wexford Capital and Sailfish Royalty Corp. The share capital structure remains at 659,308,984 shares outstanding, with US$9.4 million principal remaining on the Wexford loan and 3,895 ounces of gold on the Sailfish loan.
Mako Mining Corp. has announced positive drill results from its expansion drilling at the San Albino resource, indicating potential increases in mineral resources. Significant intercepts include 22.20 g/t Au and 23.1 g/t Ag in the West Pit, and 31.70 g/t Au and 39.2 g/t Ag in the SW Pit. The company is expanding its drilling operations with plans to increase its rig count to eight. A technical report is filed under NI 43-101 outlining these findings. Management anticipates a significant upgrade in mineral resources based on current drilling results.
Mako Mining Corp. has released its fourth quarter 2021 production results from the San Albino gold mine in Nicaragua, marking a strong performance since declaring commercial production on July 1, 2021. In Q4 2021, the mine produced 12,251 ounces of gold with a blended grade of 8.63 g/t. The total mined was 44,160 tonnes, with 10,291 oz Au recovered and sold at an average price of US$1,797 per ounce. The mill averaged over 500 tonnes per day, achieving improved operational efficiency. Further improvements in mill availability are expected in early 2022.
Mako Mining Corp. has announced positive results from the first 12 benches of the San Albino vein at its gold project in Nicaragua. Mining yielded 32,208 ounces of gold and 55,687 ounces of silver from 103,783 tonnes of diluted material, averaging 9.72 g/t Au and 16.69 g/t Ag. These results show a 10% positive grade reconciliation compared to the mineral resource estimate, a significant validation of the geological model. The company aims to capitalize on this data for further exploration.
Mako Mining Corp. has received an exploration permit from MARENA for its La Segoviana concession, valid for 10 years and renewable for an additional 20. The permit allows for up to 1,100,000 meters of drilling, including 500,000 meters of diamond drilling, and 32,500 meters of trenching. Key surface rights have also been acquired for La Segoviana, with plans for the first exploration budget to be prepared in early 2022. Furthermore, the company has announced the departure of Cesar Gonzalez, Vice President of Corporate Development, to pursue other opportunities.
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