Production / Operations
Mako Mining Announces Q1 2026 Production Results with Record Production of 13,721 Au oz., Revenue of ~US$69 Million, Debt Free and Cash Position of US$96.1 Million
Mako Mining Posts Record Q1 Gold Output as Cash Pile Swells to $96 Million
Executive Summary
- Mako Mining Corp. reported record Q1 2026 production of 13,721 ounces of gold and revenue of approximately US$68.6 million.
- Revenue increased by 36% compared to the previous quarter (Q4 2025), which was also a record quarter for the company.
- The company remains debt-free with a cash position and trade receivables totaling US$96.1 million as of March 31, 2026.
- San Albino mine produced 12,538 oz Au from mining and 13,277 oz Au milled in the quarter.
- Moss Mine sales contributed 3,323 oz Au, indicating continued ramp-up to steady-state production.
- Eagle Mountain Gold Project (Guyana) submitted its Environmental and Social Impact Assessment (ESIA) on March 25, 2026.
- Mt. Hamilton Project (Nevada) construction is expected to commence over the next few weeks following acquisition completion in March 2026.
Material Impact
- The Q1 results confirm the guidance provided in the Q4 2025 release where management stated "Q1 2026 will be another record quarter".
- While positive, the news is largely expected given the trajectory of production ramp-up at Moss Mine and strong grades at San Albino.
- The debt-free status with US$96.1 million in cash significantly de-risks future capital needs for Mt. Hamilton construction without requiring equity dilution.
- Nasdaq listing approval (March 2026) combined with this cash generation enhances liquidity and visibility, supporting the "Routine - Positive" classification as it validates previous strategic announcements rather than introducing fundamentally new surprises.
- The revenue jump from $50M to $69M is substantial but aligns with the company's stated strategy of self-funded growth using operating cash flow.
MKO · Price
Company Overview
- Company: Mako Mining Corp. operates multiple gold assets across Nicaragua, USA, and Guyana.
- Flagship Project: San Albino Mine (Nicaragua) is the primary cash generator, producing high-grade gold with mill recovery rates around 80%.
- Secondary Assets: Moss Mine (Arizona) is ramping up to steady-state production; Eagle Mountain (Guyana) is in permitting stage for future growth.
- New Asset: Mt. Hamilton Project (Nevada) acquired via related-party transaction, fully permitted with construction starting soon.
- Strategy: Self-funded organic growth and targeted M&A using cash flow from operations to avoid debt and equity dilution.
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Jul 07, 2026 · 08:45