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April 11thMako Mining Reports Fourth Quarter and Full Year 2024 Financial Results, Including 2024 Adjusted EBITDA(1) of US$42.2 million and EPS of US$0.27 from 39,001 oz Gold Sold at an Average Price of US$2,397/oz
VANCOUVER, BC / ACCESS Newswire / April 11, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF...
About this update from Mako Mining Corp.
[{"type":"text","content":"April 11thMako Mining Reports Fourth Quarter and Full Year 2024 Financial Results, Including 2024 Adjusted EBITDA(1) of US$42.2 million and EPS of US$0.27 from 39,001 oz Gold Sold at an Average Price of US$2,397/ozVANCOUVER, BC / ACCESS Newswire / April 11, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide financial results for the three months ended December 31st, 2024 (\"Q4 2024\") and the 4th full year of financial results since declaring commercial production on July 1st, 2021 at its San Albino gold mine (\"San Albino\") in northern Nicaragua. All dollar amounts referred to herein are expressed in United States dollars unless otherwise stated.The Company's financial results for Q4 2024 reflect record gold sales of $28.9 million, which generated $14.7 million in Mine Operating Cash Flow (1) (4), and $4.7 million in Net Income after accruing a non-current deferred tax liability of $3.2 million due to greater than expected operating income consuming a greater than expected portion of the Company's deferred tax assets. The Company sold 10,888 oz of gold at an average price of $2,670 per oz with a $1,352 All-In Sustaining Cost (\"AISC\") ($/oz sold). (1) (2)Q4 2024 HighlightsFinancial$28.9 million in Revenue$14.1 million in Adjusted EBITDA (1)$14.7 million in Mine Operating Cash Flow (\"MineOCF\") (1) (4)$4.7 million Net Income (after accruing a $3.2 million non-current deferred tax liability)$1,006 Cash Costs ($/oz sold) (1) (2)$1,352 All-In Sustaining Costs (\"AISC\") ($/oz sold) (1) (2)Full year Return on Equity (\"ROE\") (1) of 39.3% and Return on Assets (\"ROA\") of 25.7% (1)Delivered 40,500 oz of silver in Q4 2024 to the Sailfish Silver LoanGrowth$1.2 million in exploration and evaluation expenses ($0.5 million in areas surrounding San Albino in Nicaragua and approximately $0.7 million at Eagle Mountain, Guyana)Subsequent to December 31, 2024On March 27, 2025, the Company's subsidiary Mako US Corp. completed the acquisition of EG Acquisition LLC (\"EGA\"), acquiring 100% of the issued and outstanding common shares from Wexford EG Acquisition LLC (\"Wexford EGA\"), an entity owned by the Company's controlling shareholder, for US$6.49 million. EGA, is a private corporation incorporated in Delaware and owns 100% of the shares of Golden Vertex Corp. (\"GVC\") which owns the Mo...