- Record revenue of $31.5 million in Q1 2025 from gold sales.
- Strong operational performance with mill throughput 22% above capacity.
- Cash position solid at $14.2 million post-Moss Mine acquisition.
Mako Mining Corp. (MAKOF, Financial) has reported robust financial and operational results for Q1 2025, primarily driven by its San Albino gold mine in Nicaragua. The company achieved record revenues of $31.5 million from the sale of 10,817 ounces of gold, benefited from favorable gold prices during the quarter.
The San Albino mine saw impressive operational performance, with a total of 53,551 tonnes milled at a rate of 608 tonnes per day, which is 22% above the nameplate capacity. The mill achieved a gold recovery rate of 85.3%, with an average grade of 7.10 grams per tonne. The plant maintained a high availability rate of 97.8%, indicative of efficient operations.
Mako Mining successfully completed the acquisition of the Moss Mine in Arizona, contributing an additional 936 ounces of gold from residual leaching activities, sold at $2,997 per ounce. The company's strong financial standing is highlighted by a cash balance of $14.2 million as of April 14, 2025, despite a $6.5 million payment towards the Moss Mine acquisition.
Looking ahead, Mako Mining is advancing its Eagle Mountain project in Guyana, with plans to submit the Environmental Impact Statement in the second half of 2025, continuing to build on its strategic acquisitions and operational efficiencies.
