Mako Mining Recovers 12,182 Gold Equivalent Ounces In Q4 2024

Preliminary results are in for Mako Mining’s (TSXV: MKO) fourth quarter. The company is reporting gold recoveries of 12,182 gold equivalent ounces in the fourth quarter.

Recoveries improved by 134% on a quarter over quarter basis, following Mako in the third quarter experiencing the delay of certain permits being received. Recoveries totaled 85.0% during the quarter, with Mako milling a total of 51,242 tonnes of ore during the quarter at an average of 576 tonnes a day. Grades during the quarter averaged 8.60 g/t gold and 8.17 g/t silver.

Gold equivalent sales meanwhile totaled 10,873 ounces, with gold sold at an average price of $2,670 per ounce. Silver sales meanwhile averaged $31 per ounce. Mako in the fourth quarter stated that it achieved record gold revenues, which hit US$28.8 million, leading to the company finishing the quarter with a cash balance of US$14.5 million, an improvement from US$9.5 million as of the end of the third quarter.

READ: Mako Mining Set To Acquire The Moss Mine For Up To US$6.4 Million

Mako also delivered 40,500 ounces of silver to Sailfish Royalty in connection with an outstanding loan, reducing outstanding debt by $1.1 million.

“Production in Q4 2024 was back to normal, after a relatively weak Q3 due to a brief delay in receiving an EIA permit which was received in July. Recovered gold ounces were up 134% quarter over quarter to 12,053 ounces, with gold sales increasing to 10,803 ounces, generating US$28.8 million in revenue. Cash balances increased by US$9.5 million, after an extensive exploration program at both the Nicaraguan and Guyanese assets,” commented CEO Akiba Leisman on the results.

Mako Mining last traded at $3.46 on the TSX Venture.


Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Mako Mining Receives Permits To Drill Test Potrerillos

Mako Mining Corp (TSXV: MKO) has received drilling permits. The firm revealed this morning it...

Friday, November 19, 2021, 08:43:15 AM

Mako Mining Produces 11,577 Gold Ounces In Q1 2022

Mako Mining (TSXV: MKO) this morning posted its first quarter production results for its San...

Wednesday, April 27, 2022, 08:57:24 AM

Mako Mining Announces Plans For Self-Funded US$17.2 Million Exploration Program

Mako Mining (TSXV: MKO) this morning released its latest exploration results, while also revealing its...

Wednesday, March 9, 2022, 08:21:51 AM

Mako Mining Q3: Earnings Bad, Overall Story Good

Yet another small scale gold producer has reported their financial results for the third quarter....

Sunday, December 1, 2024, 11:32:00 AM

Mako Mining To Acquire Goldsource Mines In $33 Million All-Stock Deal

Mako Mining (TSXV: MKO) has taken a tumble in morning trading today following the announcement...

Tuesday, March 26, 2024, 10:40:00 AM