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Mako Mining Reports First Quarter 2025 Financial Results, Including Record Mine Operating Cash Flow of US$19.9 million, Adjusted EBITDA of US$16.1 million and EPS of US$0.12/share from 10,817 oz Gold Sold at US$2,915/oz
VANCOUVER, BC / ACCESS Newswire / June 2, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) ("Mako" or the "Company") is pleased to provide financial results for the three months ended March 31st, 2025 ("Q1 2025"). All dollar amounts referred to …
VANCOUVER, BC / ACCESS Newswire / June 2, 2025 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) ("Mako" or the "Company") is pleased to provide financial results for the three months ended March 31st, 2025 ("Q1 2025"). All dollar amounts referred to herein are expressed in United States dollars unless otherwise stated.
The Company's financial results for Q1 2025 reflect record gold sales from its San Albino and Moss Mine of $31.8 million (vs. $19.2 million in Q1 2024), which generated $19.9 million in Mine Operating Cash Flow (1) (4), $16.1 million in Adjusted EBITDA(1), and $9.4 million in Net Income. The Company sold 10,817 oz of gold at an average price of $2,915/oz with a $1,239 Cash Cost and $1,411 All-In Sustaining Cost ("AISC") ($/oz sold). (1) (2)
On March 27th, 2025, Mako completed the acquisition of EGA (the "Moss Acquisition"), which owned the Moss gold mine in Arizona, and these financial results reflect the consolidation of the Moss Acquisition into Mako's Q1 2025 Financial Statements and MD&A. Finished products in the amount of 936 oz of gold and 8,562 oz of silver were acquired at the time of acquisition, held on the balance sheet at market value of $3.2 million and sold immediately thereafter with a Cost of Goods Sold also amounting to $3.2 million. This had the effect of increasing our reported Cash Cost and AISC by $202/oz and $186/oz. Without the effect of the Moss Acquisition, the Company's Cash Cost and AISC would be $1,037/oz and $1,225/oz, respectively.
Q1 2025 Mako Mining Highlights
Financial
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$31.8 million in Revenue
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$19.9 million in Mine Operating Cash Flow ("MineOCF") (1) (4)
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$16.1 million in Adjusted EBITDA (1)
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$9.4 million Net Income
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$1,239 Cash Costs ($/oz sold) (1) (2)
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$1,411 All-In Sustaining Costs ("AISC") ($/oz sold) (1) (2)
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Twelve Trailing Months ("TTM") Return on Equity ("ROE") (1) of 47.5% and Return on Assets ("ROA") of 30.9% (1)
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Delivered 40,500 oz of silver in Q1 2025 to the Sailfish Silver Loan. The final 13,500 oz installment was delivered in April 2025
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$4.0 million payment of Income Tax Payable previously accrued in Fiscal Year 2024
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The Company purchased 0.5 million common shares under the normal course issuer bid ("NCIB") for $1.4 million (C$2.0 million) in Q1 2025
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On March 27th, 2025, the Company completed the Moss Acquisition
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