Mako Mining Reports Fourth Quarter and Full Year 2025 Financial Results, Including Q4 2025 Adjusted EBITDA (1) of US$28.3 million and EPS of US$0.17/share from 11,564 oz Gold Sold at an Average Realized Price of US$4,313/oz (1)(2), and Corporate Update
Mako transforms into a multi-asset producer with record Q4 earnings and debt-free Nasdaq listing
The most recent news (April 1, 2026) reports record-breaking financial results for Q4 2025. Mako generated US$50.4M in revenue and US$28.3M in Adjusted EBITDA from the sale of 11,564 oz of gold at an average realized price of US$4,313/oz. Crucially, the company has transitioned to a debt-free balance sheet after repaying the Wexford loan in October 2025. On the strategic front, Mako completed the acquisition of the Mt. Hamilton project in Nevada (March 23, 2026) and received approval to list on the Nasdaq (March 30, 2026). Operationally, the Moss Mine is approaching steady-state production, and the Eagle Mountain project in Guyana has moved into the permitting phase with the submission of its ESIA.
The impact is Material - Positive. The company has successfully executed a complex "buy-and-build" strategy over the last 12 months: - Financial Strength: Moving from a net-debt position to US$78M in cash and receivables while funding two acquisitions (Moss and Mt. Hamilton) primarily through cash flow and non-dilutive streams. - Market Access: The Nasdaq listing (MAKO) significantly upgrades the company's capital markets profile, likely increasing liquidity and institutional interest. - Production Growth: The company has evolved from a single-asset producer in Nicaragua to a multi-jurisdictional operator with two producing mines (San Albino, Moss) and two advanced development projects (Eagle Mountain, Mt. Hamilton). - Margin Expansion: While AISC remains relatively high at US$1,876/oz in Q4 2025, the record-high realized gold prices (>US$4,300/oz) have resulted in massive free cash flow generation.
Mako Mining is a gold producer and developer focused on the Americas. - Flagship Project: San Albino (Nicaragua). A high-grade (10+ g/t Au) open-pit mine. - Secondary Producer: Moss Mine (Arizona). A heap-leach operation acquired in early 2025, currently ramping up. - Development Assets: Eagle Mountain (Guyana) and Mt. Hamilton (Nevada). - Strategy: Using high-margin cash flow from San Albino to fund a pipeline of projects in Tier-1 jurisdictions (USA) and emerging districts (Guyana).