Mako Mining announces full capital recovery of Moss Mine acquisition cost

Mako Mining (MAKOF) announced that it has fully recovered the $6.4M acquisition cost for the 100%-owned Moss Mine in Arizona through cash flow derived from residual leaching of previously stacked mineralization, and the return of $1.53M on June 20. from Trisura Guarantee Insurance Company of the $3.1M held as collateral for various environmental bonds. Thus far in Q2, operations have been strong at the Company’s 100% owned San Albino mine in northern Nicaragua, supplemented by the residual leach operations at the Moss Mine in Arizona. Mako’s current cash and gold sales receivable balance total $27.4M, an increase of $13.8M since the beginning of the quarter. A full Q2 operational update will be issued during the week of July 14. The Company engaged a new mine contractor for the Moss Mine on June 10, with initial equipment expected to be delivered to the mine by the end of this week, with mining operations scheduled to commence in early July. Ramp up of the operation will continue through 2025 with steady-state production expected by the end of Q4. The cash flow generated from both San Albino and Moss will be used to fund mine and regional exploration at both assets, and construction of the Eagle Mountain Project in Guyana once initial construction permits are received, which the Company anticipates by Q2 2026.