Mako Posts 12,743 oz Q3 Gold Recovery, ~$50M Revenue; Mt. Hamilton Permit Cleared
MAKO sits 81% above its 52-week low of $4.96.
Summary
Mako recovered 12,743 oz of gold in Q3 2026 and sold 11,581 oz for roughly $50 million in revenue, with San Albino delivering 9,145 oz and Moss 3,599 oz. San Albino was inline rather than overperforming, as the mill ran a higher share of lower-grade historical dump material (48% vs 54% in H1), and Moss throughput averaged only 5,113 short tons per day against the 8,500 tpd plan due to mechanical constraints. The bigger news is permitting: on October 16 the US Forest Service granted condemnation drilling permits at Mt. Hamilton, removing the main bottleneck to full construction, with first gold still targeted for December 2027. Management also procured a crushing circuit upgrade at Moss that should push throughput above 12,000 short tons per day by Q3 2027, more than double current production levels. Cash, securities and trade receivables grew to $119.3 million despite heavy capital spending across four assets, which the company says covers construction at both Mt. Hamilton and Eagle Mountain. Watch the final Eagle Mountain ESIA submission expected in Q4 2026 and the amended Mt. Hamilton plan of operation approval later this year.
At the time of this announcement, MAKO was trading at $8.98 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $786.7M. The 52-week trading range was $4.96 to $11.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.