Mako Mining Provides Q1 2023 Financial Results

About this update from Mako Mining Corp.

[{"type":"text","content":"Mako Mining Provides Q1 2023 Financial ResultsVANCOUVER, BC / ACCESSWIRE / May 29, 2023 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide financial results for the three months ended March 31st, 2023 (\"Q1 2023\"), which is the seventh full quarter of financial results since declaring commercial production on July 1, 2021 at its San Albino gold mine (\"San Albino\") in northern Nicaragua. For detailed Q1 2023 operating results, please see the Company's press release dated May 12th, 2023. All dollar amounts referred to herein are expressed in United States dollars unless otherwise stated.Q1 2023 HighlightsFinancial$15.9 million in Revenue$7.6 million in Adjusted EBITDA(1)$8.3 million in Mine Operating Cash Flow (\"Mine OCF\") (1) (3)$1.4 million in Net Income after $3.7 million of depreciation, depletion(4) and amortization and $0.7 million in exploration expenses$793 Cash Costs ($/oz sold) (1) (2)$852 Total Cash Costs ($/oz sold) (1) (2)$1,410All-In Sustaining Costs (\"AISC\") ($/oz sold) (1) (2) which includes the largest and final full quarter of deferred stripping cost (436 $/oz sold) to access the high-grade portion of the West Pit (Phase 3)Three monthly repayment installments totaling $1.1 million were made on the Sailfish Loan during Q1 2023(1) Refers to a Non-GAAP financial measure within the meaning of National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure (\"NI 52-112\"). Refer to information under the heading \"Non-GAAP Measures\" as well as the reconciliations later in this press release.(2) Refers to a Non-GAAP ratio within the meaning of NI-52-112. Refer to information under the heading \"Non-GAAP Measures\" later in this press release.(3) Refer to \"Chart 1 - Q1 2023 - Mine OCF Calculation and Cash Reconciliation (in $ millions)\" for a reconciliation of the beginning and ending cash position of the Company, including OCF.Growth$0.7 million in exploration and evaluation expenses ($0.3 million in areas surrounding San Albino and $0.4 million at Las Conchitas). Exploration expense was lower than previous quarters as the Company has entered the resource estimation phase at Las Conchitas while preparing a discovery drilling program at La Segoviana which began in Q2 2023.Subsequent to March 31st, 2023On April 5, 2023, and on May 3, 2023, the Company de...

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