Business
Mako Mining Announces Q1 2025 Production Results Generating Record Gold Revenue of US$31.5 million
VANCOUVER, BC / ACCESS Newswire / April 21, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF...
About this update from Mako Mining Corp.
[{"type":"text","content":"Mako Mining Announces Q1 2025 Production Results Generating Record Gold Revenue of US$31.5 millionVANCOUVER, BC / ACCESS Newswire / April 21, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide first quarter 2025 (\"Q1 2025\") production results for the Company's San Albino gold mine (\"San Albino\") in northern Nicaragua and an update on the Eagle Mountain gold project in Guyana. Certain amounts shown in this news release may not total to exact amounts due to rounding differences. All amounts expressed in U.S. dollars unless otherwise noted.Q1 2025 San Albino Operational Highlights48,813 tonnes mined, containing 11,495 ounces (\"oz\") of gold (\"Au\") at an average grade of 7.32 grams per tonne (\"g/t\") Au and 12,036 oz of silver (\"Ag\") at 7.67 g/t Ag29,163 tonnes mined from diluted vein material containing 9,620 oz Au at 10.26 g/t Au and 9,777 oz Ag at 10.43 g/t Ag19,650 tonnes mined from historical dump and other mineralized material above cutoff grade (\"historical dump + other\") containing 1,875 oz Au at 2.97 g/t Au and 2,259 oz Ag at 3.58 g/t Ag46.6:1 strip ratio53,551 tonnes milled containing 12,228 oz Au and 12,740 oz Ag grading 7.10 g/t Au and 7.40 g/t Ag.52% and 48% from diluted vein and historical dump and other, respectively608 tonnes per day (\"tpd\") milled at 97.8% availabilityMill recovery of 85.3% for goldAt quarter end, the stockpile was estimated at 126,248 tonnes at an average grade of 2.61 g/t Au for contained Au of 10,587 ozQ1 2025 Mako Financial HighlightsMako total gold sales of 10,817 oz Au for total revenue of $31.5 million in Q1 2025San Albino Mine sales of 9,881 oz at $2,898 per ounceMoss Mine sales of 936 oz Au from residual leaching activities at $2,997 per ounce (this doesn't include 605 oz Au sold in 2025 prior to the acquisition of Moss Mine)Delivered 40,500 oz of silver as part of Sailfish Silver loan for a total of $1.3 million in Q1 2025Interest payment of $0.3 million to Wexford under the Wexford loanTax payment of $4.0 million in cash which was already accrued in Q4 2024$1.5 million release of collateral at Moss Mine expected later this month from Trisura Guarantee Insurance Company$1.0 million expected this month from the Sailfish Silver Option exerciseCash Balance of approximately $14.2 million as of April 14th, 2025, after $6.5 million...