Mako Mining Reports Strong Financial Results for 2024

Mako Mining Corp. announced its financial results for Q4 2024 and the full year, highlighting significant achievements at its San Albino gold mine in Nicaragua. The company reported record gold sales of $28.9 million for the quarter, with a Mine Operating Cash Flow of $14.7 million and a Net Income of $4.7 million. Overall, Mako achieved an Adjusted EBITDA of $42.2 million and an EPS of $0.27 for the year. The average gold price was $2,397 per ounce, while All-In Sustaining Costs stood at $1,352 per ounce.

In growth initiatives, Mako Mining Corp. completed the acquisition of EG Acquisition LLC, which owns the Moss gold mine in Arizona, for a net cash cost of approximately $2.0 million. The company also invested $1.2 million in exploration, focusing on areas surrounding San Albino and its Eagle Mountain project in Guyana.

Citing these achievements, CEO Akiba Leisman described 2024 as a pivotal year, demonstrating robust profitability and positioning the company for continued growth.