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Mako Mining Announces Q4 2024 Production Results Generating Record Gold Revenue of US$ 28.8 million and an Increase in Cash of US$ 9.5 million
VANCOUVER, BC / ACCESSWIRE / January 13, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (" ...
About this update from Mako Mining Corp.
[{"type":"text","content":"Mako Mining Announces Q4 2024 Production Results Generating Record Gold Revenue of US$ 28.8 million and an Increase in Cash of US$ 9.5 millionVANCOUVER, BC / ACCESSWIRE / January 13, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide fourth quarter 2024 (\"Q4 2024\") 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.Q4 2024 Operational Highlights for San Albino46,733 tonnes mined containing 14,616 ounces (\"oz\") of gold (\"Au\") at an average grade of 9.73 grams per tonne (\"g/t\") Au and 13,147 oz of silver (\"Ag\") at 8.75 g/t Ag24,819 tonnes mined containing 11,818 oz Au at 14.81 g/t Au and 10,419 oz Ag at 13.06 g/t Ag from diluted vein material21,913 tonnes mined containing 2,799 oz Au at 3.97 g/t Au and 2,728 oz Ag at 3.87 g/t Ag from historical dump and other mineralized material above cutoff grade (\"historical dump + other\")27.6:1 strip ratio (1)51,242 tonnes milled containing 14,175 oz Au at an average mill head grade of 8.60 g/t Au and 13,453 oz Ag at 8.17 g/t Ag49% and 51% from diluted vein and historical dump and other, respectively576tonnes per day (\"tpd\") milled at 97% availabilityMill recovery of 85.0% for goldAt quarter end, the stockpile was estimated at 130,987 tonnes at an average grade of 2.69 g/t Au for contained Au of 11,327 oz12,053 oz Au recovered and 10,803 oz Au sold during Q4 2024 resulting in record gold revenues of US$ 28.8 millionDelivered 40,500 oz of silver as part of the Sailfish Silver Loan for a total of US$ 1.1 million in Q4 2024Cash Balance of approx. US$ 14.5 million in Q4 2024, an increase of US$ 9.5 million from Q3 2024Akiba Leisman, Chief Executive Officer of Mako states that \"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. At the end of the quarter, the ...