Business
Mako Mining Reports Q3 2025 Financial Results, Current Cash Balance of Approximately US$ 66.0 Million, Debt Free and On Track for a Record Q4 2025
VANCOUVER, BC / ACCESS Newswire / November 20, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MA...
About this update from Mako Mining Corp.
[{"type":"text","content":"Mako Mining Reports Q3 2025 Financial Results, Current Cash Balance of Approximately US$ 66.0 Million, Debt Free and On Track for a Record Q4 2025VANCOUVER, BC / ACCESS Newswire / November 20, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide financial results for the three and nine months ended September 30, 2025 (\"Q3 2025\"). All dollar amounts referred to herein are expressed in United States dollars unless otherwise stated.The Company's financial results for Q3 2025 reflect revenues of $27.6 million (vs. $15.7 million in Q3 2024) from the San Albino and Moss mines, which generated $8.9 million in Mine Operating Cash Flow (1) (4), $9.3 million in Adjusted EBITDA(1), and $1.2 million in Net Income. The Company sold 7,830 oz of gold at an average price of $3,454/oz (3) with Cash Cost of $2,115/oz, and All-In Sustaining Cost (\"AISC\") of $2,561/oz (1) (2), which includes the initial ramp up of the Moss Mine.The third quarter mine plan at San Albino was scheduled to be relatively low grade, with high grade production recommencing towards the end of October, which is expected to persist for the foreseeable future.At the Moss mine, third quarter sales of 912 oz were almost exclusively from residual leaching activities. Cash Costs and AISC were elevated, as operating costs were allocated to a relatively low number of ounces sold. Mining recommenced in August 2025, after a 12-month hiatus, initially with a single shift with a second shift added in mid-October. Consistent with the start of mining and stacking of mineralization to heap leaching, gold production is beginning to ramp up, with steady state production anticipated towards the latter half of Q1 2026.Since the Company anticipates substantially higher gold production for both the San Albino and Moss mines in Q4 2025, we expect record financial results for the quarter.The Company's current cash position is approximately $66.0 million and is debt free. This includes approximately $37.0 million net of commissions and costs from the closing of an equity financing and the repayment of the remaining $6.5 million of debt.Q3 2025 Mako Mining HighlightsFinancial$27.6 million in Revenue$8.9 million in Mine Operating Cash Flow (\"MineOCF\") (1) (4)$9.3 million in Adjusted EBITDA (1)$1.2 million Net Income$2,115 consolidated Cash Costs...