Mako Mining Reports Strong Third-Quarter Revenue and Expands Operations
Vancouver, Monday, 19 October 2026.
Mako Mining generated $50 million in third-quarter revenue, leveraging gold prices over $4,200 per ounce, while securing key permits to advance its North American expansion projects.
Operational Performance Across Key Assets
Mako Mining Corp. (Nasdaq: MAKO) disclosed detailed operational metrics for the third quarter of 2026, revealing a total gold recovery of 12,743 ounces across its portfolio [1]. At the San Albino mine in Nicaragua, the company milled 53,046 tonnes of material at an average grade of 6.66 grams per tonne, achieving a gold recovery rate of 80.5% [1]. Concurrently, the Moss Mine in Arizona contributed 3,599 ounces of recovered gold, though throughput averaged 5,113 short tons per day due to mechanical constraints [1]. Sales volumes totaled 11,581 ounces, generating approximately $50 million in revenue for the period ending September 30, 2026 [1].
Financial Liquidity and Market Valuation
As of the end of the third quarter, Mako Mining reported a robust liquidity position with $119.3 million held in cash, securities, and trade receivables [1]. Market reaction to the operational updates reflected steady investor interest, with shares valued at $8.98 on October 19, 2026 [2]. The company’s market capitalization stood at $786.11 million, supported by a price-to-earnings ratio of 14.81 [2]. This financial stability provides a foundation for the company’s planned capital expenditures and exploration activities heading into the final quarter of the year.
Permitting Advances and Production Targets
Regulatory progress was highlighted by the receipt of condemnation drilling permit amendments for the Mt. Hamilton Project on October 16, 2026, pending a reclamation bond posting [1]. Looking forward, engineering teams have identified upgrades to expand the Moss Mine crushing circuit, aiming to process over 12,000 short tons per day by the third quarter of 2027 [1]. This expansion represents a potential throughput increase of 134.696 percent compared to third-quarter 2026 levels [1]. Additionally, construction-readiness activities for the Eagle Mountain Gold Project are scheduled to commence with camp access road upgrades in October 2026, targeting a first gold pour at Mt. Hamilton in December 2027 [1].