Mako Mining Reports Q1 2024 Financial Results with EPS of US$0.08 and Gold Sales of 9,267 Oz

Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) has released its financial results for Q1 2024, ending March 31st. The company reported gold sales of US$19.2 million, generating US$10.4 million in Mine Operating Cash Flow and US$5.3 million in net income. Earnings per share were US$0.08, with 9,267 ounces of gold sold at an AISC of $1,043/oz.

Key highlights for the quarter include revenue of $19.2 million, adjusted EBITDA of $9.2 million, and $5.3 million in net income. Cash costs per ounce sold were $858, while all-in sustaining costs were $1,043 per ounce sold. The company also repaid $1.3 million in debt, including a $0.5 million settlement payment to GR Silver.

During the quarter, Mako Mining spent $0.7 million on exploration and evaluation, focusing on areas around San Albino and Las Conchitas. The cash flow from mining operations positions Mako Mining favorably for the anticipated acquisition of Goldsource Mines later this quarter.