Mako Mining Corp. (TSXV:MKO; OTCQX:MAKOF) has announced its Q2 2025 production results from the company’s San Albino gold Mine in Nicaragua, the Moss Mines in Arizona, as well as an update on the Eagle Mountain gold project in Guyana, highlighting key operational and financial highlights from the quarter.
San Albino Highlights:
- 54,354 tonnes mined, containing 10,911 ounces (“oz”) of gold (“Au”) at an average grade of 6.24 grams per tonne (“g/t”) Au and 12,491 oz of silver (“Ag”) at 7.15 g/t Ag
- 52,705 tonnes milled containing 11,153 oz Au and 12,847 oz Ag grading 6.58 g/t Au and 7.58 g/t Ag
- At the end of Q2, the stockpile was estimated at 127,897t, with an average grade of 2.52g/t Au for contained Au of 10,352oz
Financial Highlights:
Total gold sales for the quarter were 11,76oz Au for a total revenue of US$38.1M. Breaking that down by mine, sales from San Albino were 10,104oz Au at US$3,323 per ounce and sales from Moss Mine were 1,372oz Au from residual leaching activities at US$3,321 per ounce. Other transactions from Q2 include the delivery of final 13,500oz silver payment to Sailfish Silver Loan, totalling US$0.4M and a US1.5M release of collateral at Moss mine from Trisura Guarantee Insurance Company.
The cash balance for the company as of 30 June 2025 is US$28.6M.
Akiba Leisman, Chief Executive Officer of Mako comment, “In Q2 2025 we generated US$38.1 million in revenue, a record for the Company. Gold sales of 10,104 ounces were similar to the previous two quarters; however, realized gold prices of $3,323 per ounce were substantially higher. This was the first full quarter the Company owned the Moss Mine, with 1,372 gold ounces sold from the residual leach operations. After reinvesting cash flow in exploration in Nicaragua, rapidly advancing the Eagle Mountain project in Guyana, and preparing for the restart of mining operations at the Moss Mine in Arizona, the Company managed to increase cash on the balance sheet by US$18.2 million to US$28.6 million, which gives an indication as to how profitable our current mining assets are. This cash will be used for the eventual construction of the Eagle Mountain project next year.”
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