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M&A / Property

Mako Mining closes Mt. Hamilton buy for $40M (U.S.)

By The Northwire Desk — AI Analysis Mar 24, 2026 · 17:14 MKO · 8.23 Mako Mining Corp.
MKO · Price

Executive Summary

  • Mako Mining Corp. has completed the acquisition of 100% of the legal registered membership interests of Mt. Hamilton LLC, the owner of the Mt. Hamilton project in Nevada, from Sailfish Royalty Corp.
  • The transaction was approved by shareholders on March 3, 2026, and closed pursuant to the amended and restated purchase and sale agreement dated February 14, 2026.
  • The $40 million (U.S.) purchase price is satisfied entirely through a gold stream agreement with Sailfish, secured by first-ranking security interests over Mako's assets.

Key Details

  • Transaction Structure: Acquisition of 100% of Mt. Hamilton LLC (owner of the Mt. Hamilton project in Nevada) from Sailfish Royalty Corp.
  • Purchase Price: $40 million (U.S.).
  • Consideration: The purchase price is satisfied through the grant of a gold stream to Sailfish, structured as follows:
    • Initial 60 Months: Sailfish purchases approximately 341.7 troy ounces of gold per month.
      • Price: 20% of the London Bullion Market Association (LBMA) PM Fix price.
      • Floor: $2,700 (U.S.) per ounce.
      • Cap: $3,700 (U.S.) per ounce.
    • Final 72 Months: Sailfish purchases approximately 100 troy ounces of gold per month.
      • Price: 20% of the LBMA PM Fix price (no floor or cap specified for this period).
  • Security: Mako’s obligations are secured by first-ranking security interests over all current and future assets of Mako and its subsidiaries holding an interest in the Mt. Hamilton project.
  • Related-Party Status: The transaction is a related-party transaction as both Mako and Sailfish are controlled by Wexford Capital LP. Mako was exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 because the fair market value was below 25% of Mako's market capitalization.
  • Advisers:
    • Financial Adviser: Stifel Canada (paid a $100,000 fee).
    • Canadian Legal Counsel: Cassels Brock & Blackwell LLP.
    • U.S. Legal Counsel: Spencer Fane LLP.
  • Regulatory Filings: Details are available in the news release dated Feb. 18, 2026, the management information circular dated Dec. 23, 2025, and the circular supplement dated Feb. 14, 2026, under Mako's SEDAR+ profile.

Notable Quotes

  • No direct quotes from the CEO or President were included in the provided text.
Read the original news release →

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Resource Estimate