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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 ~$656.42M which is a fall of roughly 3% over the last one weeks. 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
Change
Item Value Value Updated Value
MCap (FD): $674.07M $656.42M 01/27/2026 $-17.65M
MCap (OS): $658.99M $641.74M 01/27/2026 $-17.26M
Total Assets: $151.00M $151.00M 01/27/2026 $0.00M
Total Liabilities: $53.00M $53.00M 01/27/2026 $0.00M
Current Assets: $61.00M $61.00M 01/27/2026 $0.00M
Current Liabilities: $15.00M $15.00M 01/27/2026 $0.00M
Total Debt: $0.00M $0.00M 01/27/2026 $0.00M
Cash: $61.00M $61.00M 01/27/2026 $0.00M
Debt (Net): $-61.00M $-61.00M $0.00M
Enterprise Value: $613.07M $595.42M $-17.65M
Cash Flow: $125.58M $114.06M never $-11.52M
Cash Flow Multiple: 5.37 5.76 never 0.39
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 01/27/2026 n/a
Misc 01/27/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 87,009,006 87,009,006 01/27/2026 0
Shares (FD): 89,000,000 89,000,000 01/27/2026 0
Insider Ownership: 60% 60% 01/27/2026 n/a
Dividend (Annual): n/a n/a 01/27/2026 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Producer Producer never n/a
Production ETA: n/a 08/01/2020 01/27/2026 n/a
Production (Gold Eq Oz.): (guess) 
40,000		 (guess) 
40,000		 01/27/2026 0
Production (Silver Eq Oz.): (guess) 
1,817,360		 (guess) 
2,564,553		 01/27/2026 747,192
Development Phase: Producer (Single Mine) Producer (Single Mine) 01/27/2026 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 20
Producer: Growth Potential
 20
Producer: Growth Potential
 01/27/2026 0
Cash Flow Multiple: 15 15 01/27/2026 0.00

Resource Data

GOLD 01/27/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/27/2026 0.00M
Measured & Indicated: 2.00M 2.00M 01/27/2026 0.00M
Inferred: 1.50M 1.50M 01/27/2026 0.00M
Reserves & Resources: 3.50M 3.50M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/27/2026 0.00M
Measured & Indicated: 1.52M 1.52M 01/27/2026 0.00M
Inferred: 0.71M 0.71M 01/27/2026 0.00M
Reserves & Resources: 2.23M 2.23M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
40,000oz.		 (guess) 
40,000oz.		 01/27/2026 0oz.
Cash Cost: $1,300 $1,300 01/27/2026 $0.00
Extra Operating Cost: $800 $800 01/27/2026 $0.00
Total: $2,100 $2,100 01/27/2026 $0.00
Margin (Free Cash Flow): $3,139 (60%) $2,852 (58%) $-287.94
MCap / Production (AuEq): $16,851.83 $16,410.49 $-441.34
EV / Production (AuEq): $15,326.83 $14,885.49 $-441.34
G
R
A
D
E		 Underground (Avg): 15.00 g/t 15.00 g/t 01/27/2026 n/a
Open Pit (Avg): n/a 1.00 g/t 01/27/2026 n/a
Recovery Rate: (CG)  95.00% (CG)  95.00% 01/27/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: 3.00M 3.00M 01/27/2026 0.00M
Annual Production: 150,000oz. 150,000oz. 01/27/2026 0oz.
Cash Cost: $1,500 $1,500 01/27/2026 $0
Extra Operating Cost: $800 $800 01/27/2026 $0
SILVER 01/27/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/27/2026 0.00M
Measured & Indicated: n/a n/a 01/27/2026 0.00M
Inferred: n/a n/a 01/27/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/27/2026 0.00M
Measured & Indicated: n/a n/a 01/27/2026 0.00M
Inferred: n/a n/a 01/27/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 01/27/2026 $0.00
Extra Operating Cost: n/a n/a 01/27/2026 $0.00
Total: n/a n/a 01/27/2026 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): $370.91 $255.96 $-114.95
EV / Production (AgEq): $337.34 $232.17 $-105.17
G
R
A
D
E		 Underground (Avg): n/a n/a 01/27/2026 n/a
Open Pit (Avg): n/a n/a 01/27/2026 n/a
Recovery Rate: n/a n/a 01/27/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 01/27/2026 0.00M
Annual Production: n/a n/a 01/27/2026 n/a
Cash Cost: n/a n/a 01/27/2026 n/a
Extra Operating Cost: n/a n/a 01/27/2026 n/a

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
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD MCap / Gold Eq.: n/a n/a n/a $0.00
FD MCap / Silver Eq.: n/a n/a n/a $0.00
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
EV / Gold Eq.: n/a n/a n/a $0.00
EV / Silver Eq.: n/a n/a n/a $0.00
EV / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
Measured &
Indicated		 01/27/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 37.36M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.52M 1.52M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 28.39M
Maximum Profit (Gold): $4,771.96M $4,334.30M n/a $-437.67M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $4,771.96M $4,334.30M n/a $-437.67M
Max Profit / Current MCap: 7.079 6.603 n/a -0.476
Max Profit Per Share (Gold): $53.62 $48.70 n/a $-4.92
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $53.62 $48.70 n/a $-4.92
Total Free Profit Per Share: $43.26 $38.61 n/a $-4.65
FD MCap / Gold Eq.: $443.47 $431.86 n/a $-11.61
FD MCap / Silver Eq.: $9.76 $6.74 n/a $-3.02
FD MCap / Per Metal
as % Spot Price:		 8.46% 8.72% n/a 0.26%
EV / Gold Eq.: $403.34 $391.72 n/a $-11.61
EV / Silver Eq.: $8.88 $6.11 n/a $-2.77
EV / Per Metal
as % Spot Price:		 7.70% 7.91% n/a 0.21%

Reserves &
Resources		 01/27/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 3.50M 3.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 65.38M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.23M 2.23M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 41.70M
Maximum Profit (Gold): $7,008.82M $6,366.00M n/a $-642.83M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $7,008.82M $6,366.00M n/a $-642.83M
Max Profit / Current MCap: 10.398 9.698 n/a -0.700
Max Profit Per Share (Gold): $78.75 $71.53 n/a $-7.22
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $78.75 $71.53 n/a $-7.22
Total Free Profit Per Share: $68.39 $61.44 n/a $-6.95
FD MCap / Gold Eq.: $301.94 $294.03 n/a $-7.91
FD MCap / Silver Eq.: $6.65 $4.59 n/a $-2.06
FD MCap / Per Metal
as % Spot Price:		 5.76% 5.94% n/a 0.18%
EV / Gold Eq.: $274.61 $266.71 n/a $-7.91
EV / Silver Eq.: $6.04 $4.16 n/a $-1.88
EV / Per Metal
as % Spot Price:		 5.24% 5.39% n/a 0.15%

Future Valuation (Cash Flow & Totals)

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