Mako Mining Announces Strong Q1 2024 Production Results

Mako Mining Corp., operating from San Albino gold mine in Nicaragua, reports a significant production boost in the first quarter of 2024. The company mined a record 67,961 tonnes, yielding 13,965 ounces of gold at a grade of 6.39 grams per tonne and 15,718 ounces of silver at 7.19 grams per tonne. The milled material amounted to 52,478 tonnes, with gold recoveries at 80.6%.

Financially, the quarter was marked by selling 9,332 ounces of gold equivalent and Meeting a delivery of 40,500 ounces of silver under the Sailfish Silver Loan, totaling a revenue of US$0.9 million. Additionally, Mako's settlement with GR Silver involved US$0.5 million and 296,710 common shares. The company also purchased 1 million of its own shares for C$ 2.8 million.

CEO Akiba Leisman highlighted the quarter as highly profitable, citing record throughputs and preparation for the upcoming acquisition of Goldsource Mines. He noted the ongoing optimization at various mining phases within the company's operations.