Mako Mining Corp. Announces Record Financial Results for Q4 and Full Year 2023

Mako Mining Corp. (TSXV: MKO) (OTCQX: MAKOF) has disclosed its financial outcomes for the fourth quarter (Q4 2023) and the full year of 2023, marking its third year of financial reporting since the launching of commercial production at the San Albino gold mine in Nicaragua. The Vancouver-based mining company announced record earnings, including a significant rise in gold sales amounting to US$26.5 million for Q4, leading to US$16.8 million in Mine Operating Cash Flow and a Net Income of US$9.5 million.

The report highlights a remarkable Q4 EPS (Earnings Per Share) of US$0.145, with the company managing to sell 13,481 ounces of gold at an All-In Sustaining Cost (AISC) of $817 per ounce. These results underscore the company's strong financial and operational performance, with both cash cost and AISC reaching record lows.

The financial accomplishments of Q4 2023 also include $15.3 million in Adjusted EBITDA, alongside a noteworthy effort in debt reduction through a repayment of $6.9 million. Furthermore, Mako Mining reported investing $1.0 million in exploration and evaluation expenses, demonstrating its ongoing commitment to growth and exploration activities around the San Albino vicinity and the Las Conchitas area.

Akiba Leisman, Mako's CEO, remarked on the quarter as being a record period across significant financial and operational metrics. He emphasized the invested exploration efforts and the strategic movement to enhance the company's balance sheet in preparation for the upcoming acquisition of Goldsource Mines.