Mako Mining (MAKOF, Financial) has successfully recouped the $6.4 million spent on acquiring the Moss Mine in Arizona. This recovery was achieved through cash flow from residual leaching of previously processed minerals and the reimbursement of $1.53 million from Trisura Guarantee Insurance Company, which had held the funds as collateral for environmental bonds.
During the second quarter, Mako Mining has experienced robust operations, particularly at its San Albino mine in Nicaragua. The company's financial position has strengthened with its current balance of cash and gold sales receivables reaching $27.4 million, reflecting a $13.8 million increase since the quarter's start. An update on Q2 operational performance is expected by mid-July.
Furthermore, Mako Mining has engaged a new contractor for the Moss Mine, with equipment deliveries anticipated shortly and mining operations set to begin in early July. The project aims for steady-state production by the end of 2025's fourth quarter. The revenue generated from both the San Albino and Moss operations will support exploration and the planned Eagle Mountain Project in Guyana, contingent upon permit approvals expected by the second quarter of 2026.
