Gold Producer Mako Mining Achieves Record Revenue and Strong Second-Quarter Profits

2026-08-14 companies

Vancouver, Friday, 14 August 2026.
Mako Mining posted record second-quarter revenues of $62.6 million, selling gold at $4,201 per ounce. With $112 million in cash, the producer can fully fund future developments independently.

Record Revenue and Earnings Surge

Mako Mining Corp. (NASDAQ: MAKO) released its financial results for the second quarter ended June 30, 2026, on August 13, 2026, reporting record revenue of $62.6 million [1][2]. This figure represents a significant increase from the $38.71 million recorded in the same period last year, marking a revenue growth rate of 61.715 percent [2]. The company reported adjusted earnings per share (EPS) of $0.16, though some market reports noted $0.15 per share against an estimated $0.25 [1][6][7]. Adjusted EBITDA reached $31.7 million, demonstrating strong operational momentum for the precious metals producer [1]. Net income for the quarter totaled $13.9 million, reinforcing the company’s profitability during the period [1].

Operational Efficiency and Cost Metrics

During the second quarter, Mako Mining sold 14,610 ounces of gold at an average realized price of $4,201 per ounce [1]. The All-In Sustaining Cost (AISC) was reported at $2,286 per ounce, with specific site costs varying between $1,535 per ounce at San Albino and $3,708 per ounce at Moss Mine [1]. This cost structure implies an operating margin calculated by 45.584 percent on the realized price [1]. The company’s assets include the San Albino Mine in Nicaragua and the Moss Mine in Arizona, alongside development projects in Guyana and Nevada [3][4]. These operational metrics highlight the company’s ability to generate cash flow amidst fluctuating production costs across different jurisdictions.

Balance Sheet Strength and Capital Strategy

As of the end of Q2 2026, the company held $112.9 million in cash, trade receivables, and marketable securities [1]. Management intends to fully fund two remaining development projects using existing cash and operating cash flow without needing external capital [1]. CEO Akiba Leisman stated that plans to lower the cost of capital and potentially provide shareholder capital returns would be unveiled in the coming weeks [1]. The company expects the Eagle Mountain and Mt. Hamilton projects to meaningfully increase profitability over the next few years [1]. This financial position allows Mako Mining to navigate capital-intensive development phases while maintaining liquidity.

Sector Context and Market Performance

The broader gold mining sector has seen increased attention, with gold spot prices reaching approximately $4,343 per ounce as of August 7, 2026 [5]. Analysts project a gold cycle potentially exceeding $8,000 per ounce, which could significantly expand operating margins for producers with controlled costs [5]. Mako Mining’s trading volume was noted to be 218% above average during early August 2026, indicating heightened investor interest [5]. While consensus models for 2027 often assume flat gold prices, current sector valuations reflect a shift towards prioritizing free cash flow and balance sheet strength [5]. This environment positions well-capitalized producers like Mako to leverage potential price upside.

Sources

Earnings Report Mako Mining