Mako Mining Reports Q2 2024 Financial Results Including EPS of US$0.13/share and Gold Sales of 12,313 Oz Au at $1,098/oz AISC

Vancouver, August 13, 2024 – Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) has announced its financial results for Q2 2024, highlighting US$28.3 million in gold sales. This generated US$14.5 million in Mine Operating Cash Flow and US$8.8 million in Net Income, equating to US$0.13 earnings per share. The company sold 12,313 ounces of gold at an All-In Sustaining Cost of $1,098 per ounce.

Key financial metrics for the quarter include $14.6 million in Adjusted EBITDA, $793 in Cash Costs per ounce sold, and a debt repayment of $0.8 million. Additionally, Mako repurchased $2.9 million in stock and concluded the quarter with a cash balance of $6.7 million.

CEO Akiba Leisman remarked on the strong performance, citing robust Mine OCF and net income. Over the past nine months, the mine sold 35,061 ounces, generating significant cash flow and net income, positioning the company well for continued exploration efforts in Nicaragua and Guyana.