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Mako Mining Announces Q3 Financial Results and Provides Corporate Update
Mako Mining Announces Q3 Financial Results and Provides Corporate Update Canada Ne...
About this update from Mako Mining Corp.
[{"type":"text","content":"\n\n\n\nMako Mining Announces Q3 Financial Results and Provides Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 1, 2019\n\n\n\nTSX- V: MKO\n TORONTO, April 1, 2019 /CNW/ - Mako Mining Corp. (TSXV: MKO) (\"Mako\") has released results for the three and nine month fiscal periods ended January 31, 2019 (\"Q3 2019\"), and is pleased to provide a corporate update on its La Trinidad mining operations in Mexico (\"La Trinidad\") and its San Albino gold development project in Nicaragua (\"San Albino\").\n\n \n \n\n \nQ3 2019 was the first reporting quarter after the merger between Marlin Gold Mining Ltd. and Golden Reign Resources Ltd. was consummated in November 2018 (the \"Merger\"), creating Mako Mining Corp.  As part of the Merger, the gold stream on San Albino owned by Sailfish Royalty Corporation (TSXV: FISH) was restructured, which significantly enhanced the economics of San Albino.  \nFor most of the quarter, the Company was focused on hurricane recovery (see below for additional details) at the La Trinidad mine in Mexico, and exploration and preconstruction activities at the San Albino project in Nicaragua.\nFor details of the Company's Q3 2019 financial statements and Management's Discussion and Analysis, please see the Company's filings on SEDAR.\nLa Trinidad Update\nOn October 24th, 2018, two weeks prior to the Merger, Hurricane Willa (a major Category 3 storm) passed directly over the La Trinidad mine. As a result of heavy rainfall, a significant amount of water accumulated inside the Taunus pit, which needed to be pumped out.  Mining operations did not recommence until early January 2019, and operations were exclusively focused on debris removal until the end of January.  Therefore, the $5.2 million in revenue generated from La Trinidad in fiscal Q3 was solely from processing existing inventories from a surface stockpile and from mineralized material already on the leach pad.   \nSubsequent to quarter end, it was determined through a comprehensive geological and engineering study that ...