Mako Mining Announces Q2 2026 Production Results with Record Gold Sold of 14,610 Au oz., Revenues of ~US$63 Million and Cash and Securities Balance of US$112 Million
Mako reported sequential production records while lower realized gold prices reduced revenue, even as the company continued to strengthen its balance sheet.
Mako Mining Corp. announced its second-quarter 2026 production results and unaudited financial highlights on July 15, 2026. The company reported record total gold sales of 14,610 oz, comprising 10,612 oz from San Albino and 3,998 oz from Moss. These sales generated approximately $63.0 million in revenue, reflecting a 6.5% sequential increase in ounces sold but an approximately 8% revenue decline compared to the $68.6 million recorded in the first quarter of 2026, driven by lower realized gold prices.
The company’s balance sheet strengthened, with cash, gold-linked securities, and trade receivables rising to $112 million, an increase of $15 million from the first quarter. Approximately $40 million was reinvested into gold-linked securities.
In addition to operational updates, Mako Mining announced the acquisition of the 30 km² Eureka concession, which is adjacent to the San Albino property. This transaction consolidates the company’s land package to 254 km². The announcement also included progress updates on pre-construction activities at Mt. Hamilton and permitting efforts at Eagle Mountain.
Mako Mining Corp. (MKO) reported record gold ounces sold, reflecting a successful ramp-up at the Moss operation and steady production at San Albino. However, revenue declined due to lower gold prices, and the absence of cost data, including AISC and cash costs, tempered the positive sentiment.
The company’s balance sheet shows a $15 million increase in cash and securities, alongside a $40 million position in gold-linked securities. While these figures signal confidence, they also introduce mark-to-market risk.
Strategically, the Eureka concession represents a low-cost addition, and progress at Mt. Hamilton and Eagle Mountain aligns with prior timelines. The release reaffirms the company's operating trajectory without introducing transformative elements, serving as a routine quarterly production update.
Mako Mining Corp. (MKO) operates two gold mines: the high-grade, narrow-vein San Albino mine in Nicaragua and the bulk-tonnage heap-leach Moss Mine in Arizona. The company’s growth pipeline includes two development projects: the fully permitted Mt. Hamilton gold-silver project in Nevada, which targets production in Q4 2027, and the earlier-stage Eagle Mountain gold project in Guyana. All assets are 100% owned, providing Mako with full exposure to gold prices. The company is controlled by Wexford Capital LP, which holds approximately 46% post-financing, and is listed on the Nasdaq and TSX-V.