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Mako Mining Corp

www: makominingcorp.com   email: info@makominingcorp.com
Category: Junior: Emerging Mid-tier Producer
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Symbol Data

Symbol Currency
CVE:MKO CAD
OTCMKTS:MAKOF USD

Description

Mako Mining Corp are a gold focused junior, emerging mid-tier producer with two producing mines in Nicaragua and USA and three mines in development in Guyana, Nicaragua and USA. Currently they produce roughly 40koz. of gold per year. They have approximately 3.5Moz. of gold in the reserves and resources category of which 2Moz. are in the measured and indicated category. They have a market capitalisation of ~$511.41M which is a fall of roughly 24% over the last two months. As of 01/27/2026 they have no debt and ~$61M cash. They have 87M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 01/27/2026
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $674.07M $511.41M 01/27/2026
MCap (OS): $658.99M $499.97M 01/27/2026
Total Assets: $151.00M $151.00M 01/27/2026
Total Liabilities: $53.00M $53.00M 01/27/2026
Current Assets: $61.00M $61.00M 01/27/2026
Current Liabilities: $15.00M $15.00M 01/27/2026
Total Debt: $0.00M $0.00M 01/27/2026
Cash: $61.00M $61.00M 01/27/2026
Debt (Net): $-61.00M $-61.00M
Enterprise Value: $613.07M $450.41M
Cash Flow: $125.58M $91.47M never
Cash Flow Multiple: 5.37 5.59 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: 01/27/2026
Misc 01/27/2026
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 87,009,006 87,009,006 01/27/2026
Shares (FD): 89,000,000 89,000,000 01/27/2026
Insider Ownership: 60% 60% 01/27/2026
Dividend (Annual): n/a n/a 01/27/2026
Company Type: Mostly Gold Mostly Gold never
Group: Producer Producer never
Production ETA: n/a 08/01/2020 01/27/2026
Production (Gold Eq Oz.): (guess) 
40,000		 (guess) 
40,000		 01/27/2026
Production (Silver Eq Oz.): (guess) 
1,817,360		 (guess) 
2,550,419		 01/27/2026
Development Phase: Producer (Single Mine) Producer (Single Mine) 01/27/2026
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 20
Producer: Growth Potential
 20
Producer: Growth Potential
 01/27/2026
Cash Flow Multiple: 15 15 01/27/2026

Resource Data

GOLD 01/27/2026
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/27/2026
Measured & Indicated: 2.00M 2.00M 01/27/2026
Inferred: 1.50M 1.50M 01/27/2026
Reserves & Resources: 3.50M 3.50M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/27/2026
Measured & Indicated: 1.52M 1.52M 01/27/2026
Inferred: 0.71M 0.71M 01/27/2026
Reserves & Resources: 2.23M 2.23M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
40,000oz.		 (guess) 
40,000oz.		 01/27/2026
Cash Cost: $1,300 $1,300 01/27/2026
Extra Operating Cost: $800 $800 01/27/2026
Total: $2,100 $2,100 01/27/2026
Margin (Free Cash Flow): $3,139 (60%) $2,287 (52%)
MCap / Production (AuEq): $16,851.83 $12,785.25
EV / Production (AuEq): $15,326.83 $11,260.25
G
R
A
D
E		 Underground (Avg): 15.00 g/t 15.00 g/t 01/27/2026
Open Pit (Avg): n/a 1.00 g/t 01/27/2026
Recovery Rate: (CG)  95.00% (CG)  95.00% 01/27/2026
F
U
T
U
R
E		 Proven & Probable: 3.00M 3.00M 01/27/2026
Annual Production: 150,000oz. 150,000oz. 01/27/2026
Cash Cost: $1,500 $1,500 01/27/2026
Extra Operating Cost: $800 $800 01/27/2026
SILVER 01/27/2026
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/27/2026
Measured & Indicated: n/a n/a 01/27/2026
Inferred: n/a n/a 01/27/2026
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/27/2026
Measured & Indicated: n/a n/a 01/27/2026
Inferred: n/a n/a 01/27/2026
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 01/27/2026
Extra Operating Cost: n/a n/a 01/27/2026
Total: n/a n/a 01/27/2026
Margin (Free Cash Flow): n/a
MCap / Production (AgEq): $370.91 $200.52
EV / Production (AgEq): $337.34 $176.60
G
R
A
D
E		 Underground (Avg): n/a n/a 01/27/2026
Open Pit (Avg): n/a n/a 01/27/2026
Recovery Rate: n/a n/a 01/27/2026
F
U
T
U
R
E		 Proven & Probable: n/a n/a 01/27/2026
Annual Production: n/a n/a 01/27/2026
Cash Cost: n/a n/a 01/27/2026
Extra Operating Cost: n/a n/a 01/27/2026

Property

Last Analysis Data  (01/27/2026)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Eagle Mountain
100 show
Several discoveries. Increasing in size.

Toucan
Salbora
Friendly
Powis

Likely at least 1.5 million oz.

Size: 5,000 ha
Prod San Albino
100 show
1 million oz of gold at 7 gpt, plus 1 million oz of silver at 10 gpt. Both are likely to double in size.

Size: 10,000 ha
Dev Las Conchita
100 show
Appears to be an other high grade discovery.

Next door to San Albino. They will use the same mill.

300K oz

Size: 5,000 ha
Prod Moss
100 show
400,000 oz open pit

.8 gpt.

$600 cash costs (gold equivalent, including silver).

44% IRR after-tax at $1300 gold.

$33 million Capex

Size: 16,000 ha
Dev Mt Hamilton
100 show
600K oz at .6 gpt
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Eagle Mountain
100 show
Several discoveries. Increasing in size.

Toucan
Salbora
Friendly
Powis

Likely at least 1.5 million oz.

Size: 5,000 ha
Prod San Albino
100 show
1 million oz of gold at 7 gpt, plus 1 million oz of silver at 10 gpt. Both are likely to double in size.

Size: 10,000 ha
Dev Las Conchita
100 show
Appears to be an other high grade discovery.

Next door to San Albino. They will use the same mill.

300K oz

Size: 5,000 ha
Prod Moss
100 show
400,000 oz open pit

.8 gpt.

$600 cash costs (gold equivalent, including silver).

44% IRR after-tax at $1300 gold.

$33 million Capex

Size: 16,000 ha
Dev Mt Hamilton
100 show
600K oz at .6 gpt

Profitability (by resource)

Proven &
Probable		 01/27/2026
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: n/a n/a n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): n/a n/a n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): n/a n/a n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: n/a n/a n/a
Max Profit / Current MCap: n/a n/a n/a
Max Profit Per Share (Gold): n/a n/a n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: n/a n/a n/a
Total Free Profit Per Share: n/a n/a n/a
FD MCap / Gold Eq.: n/a n/a n/a
FD MCap / Silver Eq.: n/a n/a n/a
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a
EV / Gold Eq.: n/a n/a n/a
EV / Silver Eq.: n/a n/a n/a
EV / Per Metal
as % Spot Price:		 n/a n/a n/a
Measured &
Indicated		 01/27/2026
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 2.00M 2.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.52M 1.52M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $4,771.96M $3,475.81M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $4,771.96M $3,475.81M n/a
Max Profit / Current MCap: 7.079 6.797 n/a
Max Profit Per Share (Gold): $53.62 $39.05 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $53.62 $39.05 n/a
Total Free Profit Per Share: $43.26 $31.17 n/a
FD MCap / Gold Eq.: $443.47 $336.45 n/a
FD MCap / Silver Eq.: $9.76 $5.28 n/a
FD MCap / Per Metal
as % Spot Price:		 8.46% 7.67% n/a
EV / Gold Eq.: $403.34 $296.32 n/a
EV / Silver Eq.: $8.88 $4.65 n/a
EV / Per Metal
as % Spot Price:		 7.70% 6.75% n/a

Reserves &
Resources		 01/27/2026
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 3.50M 3.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.23M 2.23M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $7,008.82M $5,105.10M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $7,008.82M $5,105.10M n/a
Max Profit / Current MCap: 10.398 9.982 n/a
Max Profit Per Share (Gold): $78.75 $57.36 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $78.75 $57.36 n/a
Total Free Profit Per Share: $68.39 $49.48 n/a
FD MCap / Gold Eq.: $301.94 $229.08 n/a
FD MCap / Silver Eq.: $6.65 $3.59 n/a
FD MCap / Per Metal
as % Spot Price:		 5.76% 5.22% n/a
EV / Gold Eq.: $274.61 $201.75 n/a
EV / Silver Eq.: $6.04 $3.16 n/a
EV / Per Metal
as % Spot Price:		 5.24% 4.60% n/a

Future Valuation (Cash Flow & Totals)

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