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Mako Mining Announces Q2 2024 Operational Results with Record Revenue of US$28.3 Million and Record Recovered Gold Ounces of 12,206 Oz and Approval of the Las Conchitas Environmental Impact Assessment
VANCOUVER, BC / ACCESSWIRE / July 15, 2024 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (" Mak...
About this update from Mako Mining Corp.
[{"type":"text","content":"Mako Mining Announces Q2 2024 Operational Results with Record Revenue of US$28.3 Million and Record Recovered Gold Ounces of 12,206 Oz and Approval of the Las Conchitas Environmental Impact AssessmentVANCOUVER, BC / ACCESSWIRE / July 15, 2024 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide second quarter 2024 (\"Q2 2024\") production results from its San Albino gold mine (\"San Albino\") in northern Nicaragua, which is the 3rd year of production results since declaring commercial production on July 1st, 2021. Certain amounts shown in this news release may not total to exact amounts due to rounding differences.Q2 2024 Operational HighlightsRecord 59,549 tonnes mined containing 14,855 ounces of gold (\"oz Au\") at an average grade of 7.76 grams per tonne gold (\"g/t Au\") and 20,970 ounces of silver (\"oz Ag\") of 10.95 grams per tonne silver (\"g/t Ag\")24,365 tonnes mined containing 11,160 oz Au at 14.25 g/t Au and 14,885 oz Ag at 19.00 g/t Ag from diluted vein material35,185 tonnes mined containing 3,695 oz Au at 3.27 g/t Au and 6,085 oz Ag at 5.38 g/t Ag from historical dump and other mineralized material above cutoff grade (\"historical dump + other\")34.4:1 strip ratio52,681 tonnes milled containing 14,888 oz Au at an average grade of 8.79 g/t Au and 19,953 oz Ag at 11.78 g/t Ag39% and 61% from diluted vein and historical dump and other, respectively598 tonnes per day (\"tpd\") milled at 97% availabilityRecoveries of 82.0% for gold in Q2 2024At the end of the quarter, an estimated 157,612 tonnes in stockpile containing 12,436 oz Au at an average grade of 2.45 g/t Au12,206 oz Au recovered and 12,313 oz Au sold during the quarterDelivered 40,500 oz of silver on the Sailfish Silver Loan for a total of US$ 1.1 million during Q2 2024NCIB share repurchases of CAD$3.4 million shares equating to 1 million shares at an average price of CAD$3.38 /share in Q2 2024Exploration Expenses of US$ 1.6 million in Q2 2024Cash Balance of aprox. US$ 6.7 million and Gold in Sales Receivable of US$3.2 million as of June 30th, 2024, an increase of US$ 2.4 million from Q1 2024Akiba Leisman, Chief Executive Officer of Mako states that, \"Q2 2024 was another highly profitable quarter for the Company, with record revenue of US$28.3 million, and record recovered gold ounces of 12,206 at industry leading co...