Business
Mako Mining Reports Fourth Quarter and Full Year 2023 Financial Results, Including Q4 EPS of US$0.145 /share and Q4 Gold Sales of 13,481 Oz at $817/oz AISC
VANCOUVER, BC / ACCESSWIRE / April 11, 2024 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) (" Mako ...
About this update from Mako Mining Corp.
[{"type":"text","content":"Mako Mining Reports Fourth Quarter and Full Year 2023 Financial Results, Including Q4 EPS of US$0.145 /share and Q4 Gold Sales of 13,481 Oz at $817/oz AISCVANCOUVER, BC / ACCESSWIRE / April 11, 2024 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide financial results for the three months ended December 31st, 2023 (\"Q4 2023\") and the 3rd full year of financial results since declaring commercial production on July 1st, 2021 at its San Albino gold mine (\"San Albino\") in northern Nicaragua. All dollar amounts referred to herein are expressed in United States dollars unless otherwise stated.The Company's financial results for Q4 2023 reflect record gold sales of US$26.5 million, which generated US$16.8 million in Mine Operating Cash Flow (1) (3), and US$9.5 million in Net Income. Revenues, Adjusted EBITDA (1) and Mine Operating Cash Flow (1) (3) were all at record levels. The Company reported US$0.145 in earnings per share (EPS) during the quarter, while selling 13,481 oz of gold at $817 All-In Sustaining Cost (\"AISC\") ($/oz sold (1) (2)).Q4 2023 HighlightsFinancial$26.5 million in Revenue$15.3 million in Adjusted EBITDA (1)$16.8 million in Mine Operating Cash Flow (\"Mine OCF\") (1) (3)$9.5 million Net Income$695 Cash Costs ($/oz sold) (1) (2)$817 All-In Sustaining Costs (\"AISC\") ($/oz sold) (1) (2)Debt Repayment of $6.9 millionRefers 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.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.Refer to \"Chart 1 - Q4 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$1.0 million in exploration and evaluation expenses ($0.2 million in areas surrounding San Albino and approximately $0.8 million at Las Conchitas).Akiba Leisman, Chief Executive Officer, states that \"Q4 2023 was a record quarter on every significant financial and operating metric, including a record for gold ounces recovered, gold ounces sold, Adjust...