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Mako Mining Corp V.MKO

Alternate Symbol(s):  MAKOF

Mako Mining Corp. is a gold mining, development, and exploration company. The Company operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua. It also owns the Eagle Mountain Gold Project in Guyana, South America. The Company’s primary asset is San Albino mine, an open pit mine located in Nicaragua. Its San Albino gold project is an open pit development project located in Nueva Segovia, Nicaragua, approximately 173 kilometers north of Managua and accessible through a paved highway. Its Las Conchitas area is located approximately 2.5 kilometers south of its high-grade San Albino Gold Deposit and is situated near the southern end of the Corona de Oro Gold Belt. The Eagle Mountain Project comprises two gold deposits, Eagle Mountain and Salbora, in addition to several other exploration targets. Its subsidiaries include Gold Belt, S.A., Nicoz Resources, S.A., and Mako US Corp.


TSXV:MKO - Post by User

Comment by AkibaLeismanon Aug 18, 2022 8:38am
184 Views
Post# 34904223

RE:RE:Production

RE:RE:Production The 3.2 million (dollar) loss was after 2.7m of exploration (which we don't capitalize) and over 6m of depletion and depreciation of the mineral property and plant.  D&D is very real, but it is based on our 2020 open pit mine model which only goes out for a very short period of time.  Mineral property is down to around 6m on the basis of this.  So when the model adjusts to the larger San albino, and next year to Las Conchitas as well, D&D will drop dramatically.   You can see today's news wrt Las Conchitas, and what this will eventually mean from a depletable resource point of view. 

Gold production going down Q over Q is a big deal as it is entirely related to our metallurgy which we do need to resolve (but will take time).  But the business plan has always been using the cash from San albino to fund exploration elsewhere on the property, which we have been. If you (or any investor) was looking at this on the back of just San Albino proper, this wouldn't ever make sense.  In the meantime, Wexford is always willing to adjust the maturity of the loan at no cost. 
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