Mako Mining Corp. reported Q3 2026 production of 12,743 ounces of gold recovered and 11,581 ounces sold, with total revenue of ~$50 million. Cash, securities and trade receivables were $119.3 million as of September 30, 2026. San Albino recovered 9,145 ounces and sold 8,768 ounces; its mill processed 53,046 tonnes at 6.66 g/t gold with 80.5% recovery. Moss Mine recovered 3,599 ounces and sold 2,812 ounces.
Moss crushing throughput averaged 5,113 short tons per day in Q3, below the Technical Report's 8,500 short tons per day initial throughput for 2026–2027. A procured crushing-circuit upgrade is expected to raise throughput to more than 12,000 short tons per day by Q3 2027; a new leach pad is expected to operate in Q4 2026. Mako expects deferred ounces to contribute to Q4 gold sales.
USFS permits for Mt. Hamilton condemnation drilling were received, with drilling contingent on posting and acceptance of a $265,205 reclamation bond; first gold pour is anticipated in December 2027. Eagle Mountain's mineral agreement with Guyana establishes a 10-year stability framework, and the final ESIA is expected to be submitted in Q4 2026.
Mako Mining Corp. (MAKO) reported that it granted equity incentives to two employees under its Omnibus Incentive Plan. The company issued an aggregate of 60,000 stock options, with each employee receiving 30,000 options. The options have an exercise price of C$13.92 per common share, based on the 5-day VWAP on the TSXV, and a five-year term, expiring on September 17, 2031.
The company describes itself as a gold mining, development and exploration company operating the high-grade San Albino mine in Nicaragua and holding additional gold assets in the United States and Guyana.
Mako Mining Corp. (MAKO) has entered a non-binding letter of intent with Sailfish Royalty Corp. for a long-term corporate-level gold stream. Over a 240‑month term, Mako would deliver escalating monthly amounts of refined gold to Sailfish, starting at 650 ounces per month and rising to 1,000 ounces per month, with Sailfish paying 25% of the LBMA PM Fix price per ounce.
As consideration, Sailfish proposes to issue 70,000,000 common shares to Mako at $5.76 per share, after which Mako is expected to own about 49.00% of Sailfish. Mako views the Sailfish shares and Sailfish’s planned gold-linked dividend policy as a way to lower its cost of capital, support potential dividends from its US$112 million in cash and securities, and fund larger acquisitions. The transaction is a related party transaction controlled by Wexford Capital and is subject to a definitive agreement, special committee review, independent valuation, minority shareholder approval, and regulatory and stock exchange approvals, and may not be completed.
Mako Mining Corp. (MAKO) announced that it has signed a mineral agreement with the Cooperative Republic of Guyana and the Guyana Geology and Mines Commission for its 100%-owned Eagle Mountain Gold Project. The agreement establishes a stability framework for legal, fiscal and operating conditions for the project.
The mineral agreement, structured under Guyana's Mining Act, provides legal stability for mining and prospecting licences, authorizations and fiscal terms for 10 years, after which the parties may negotiate changes in good faith or renew on the same terms. It sets out standard Guyanese terms for royalties, taxes, government undertakings and company commitments, including prioritizing qualified Guyanese workers, goods, services and contractors. Mako also commits to environmental initiatives, community development and social programs, with annual funding beginning no later than 24 months after grant of the mining licence or 12 months from the start of production, whichever is earlier, and annual contributions to the Ministry of Natural Resources' Training Centre. Mako is preparing to file its final Environmental and Social Impact Assessment in the fourth quarter of 2026, seeking Environmental Authorization for Eagle Mountain thereafter.
Mako Mining Corp. (MAKO) filed an NI 43‑101 Technical Report for the Moss Mine open‑pit, heap‑leach gold‑silver operation in Arizona. The report supports updated Mineral Resources, Mineral Reserves and a life‑of‑mine plan following Mako’s 2025 acquisition of the mine out of a prior bankruptcy process.
Open‑pit Proven and Probable Reserves total 62.6 M short tons at 0.0095 oz/ton Au and 0.1005 oz/ton Ag, containing 597,744 oz of gold and 6.30 Moz of silver, at a 0.004 oz/ton AuEq cut‑off and 1.3:1 strip ratio. Measured and Indicated Resources within the pit shell are 62.9 M tons at 0.0103 oz/ton Au and 0.1081 oz/ton Ag, plus 13.6 M tons of Inferred.
Planned remaining production to 2040 is 442.9 koz gold and 2.01 Moz silver, averaging about 31 koz Au per full‑production year, with life‑of‑mine AISC of ~US$2,200/oz. Using US$3,500/oz gold, US$29.20/oz silver and a 5% discount rate, the project generates a pre‑tax NPV of US$254 million and a 109% IRR. Sustaining capital is estimated at US$86.2 million, and unit operating costs average US$3.46/t mined and US$6.25/t processed, leveraging existing infrastructure and conventional heap‑leach/Merrill‑Crowe processing with assumed recoveries of 75% for gold and 33% for silver.
Mako Mining Corp. reported Q2 2026 revenue of $62.6M and YTD 2026 revenue of $131.2M, up from $38.7M and $70.5M a year earlier, driven by higher realized gold prices and added contribution from the Moss Mine. Net income rose to $13.9M in Q2 and $37.0M YTD, compared with $8.8M and $18.2M in 2025, while operating cash flow increased to $26.0M in Q2 and $45.9M YTD.
Consolidated gold sales reached 14,610 oz in Q2 and 28,332 oz YTD, versus 11,476 oz and 22,293 oz in the prior-year periods. Average realized gold prices climbed to $4,201/oz in Q2 and $4,541/oz YTD$1,996/oz and $2,286/oz in Q2 as royalties, mining and sustaining capital spending increased, particularly at the ramping Moss Mine.
Total assets grew to $296.5M from $208.4M at year-end 2025, reflecting the acquisition of the Mt. Hamilton Project and investment in SPDR Gold Shares. Shareholders’ equity increased to $190.3M and the deficit turned into a $6.1M surplus. Mako closed the Mt. Hamilton acquisition using a Sailfish Gold Stream valued at $42.3M and later recognized a $41.7M related liability. The company also published a Moss Mine reserve and economic study with an after-tax NPV of $254M and continues advancing exploration in Nicaragua, Nevada and Guyana.
Mako Mining Corp. reported record Q2 2026 gold sales of 14,610 oz and total revenue of approximately $63.0 million, driven by production from its San Albino mine in Nicaragua and the Moss Mine in Arizona.
San Albino sold 10,612 oz of gold at $4,156/oz, while Moss sold 3,998 oz at $4,321/oz. The San Albino plant milled 53,120 tonnes at 7.54 g/t Au with 80.7% recovery, and quarter-end stockpiles contained 10,105 oz of gold.
Cash, gold-linked securities and trade receivables totaled $112 million as of June 30, 2026, and the company acquired the ~3,000-hectare Eureka concession, expanding its Nicaraguan land package to 254 km2. Predevelopment advanced at Mt. Hamilton and permitting and drilling continued at the Eagle Mountain project.
Mako Mining Corp. reported its first Proven and Probable mineral reserves for the Moss Mine in Arizona, totaling 597,744 ounces of gold and 6.30 million ounces of silver within 56.8 million tonnes grading 0.327 g/t Au and 3.45 g/t Ag. Using gold and silver prices of US$3,500/oz and US$50/oz, the study supports a post-tax NPV at a 5% discount rate of US$254 million and a 15-year mine life with heap leach processing.
The life-of-mine plan forecasts 442,904 recovered ounces of gold and 2.08 million recovered ounces of silver, with average annual gold production of about 30,900 ounces and peak production of roughly 46,100 ounces in 2031. No initial capital is required, and sustaining capital is estimated at US$86 million, expected to be funded from project cash flow.
Mako acquired Moss in March 2025 for approximately US$2 million and notes that cash flow has already returned multiples of this purchase price. The company also reached a royalty litigation settlement with Patriot Gold Corp., agreeing to pay US$1.55 million from funds controlled by a bankruptcy monitor, while litigation with affiliates of Royal Gold Inc. over an additional royalty interest continues.
Mako Mining Corp. details its 2025 executive and director compensation program, emphasizing a mix of salary, cash bonuses, and equity incentives under its Omnibus Incentive Plan. Named executives can earn sizeable bonuses tied to corporate and individual scorecards, with up to 150% of salary for the CEO.
The company reports large 2025 equity awards and option grants, some linked to completing the Moss Mine and Mt. Hamilton acquisitions. It also adopts a clawback policy effective February 23, 2026, and discloses substantial termination and change-of-control protections, including multimillion‑dollar potential payouts based on outstanding share-based and option-based awards.