What Mako Mining Corp does

Mako Mining Corp is a publicly listed gold and silver mining, development, and exploration company (TSX-V: MKO; NASDAQ: MAKO) headquartered in Vancouver, Canada, with operations across the Americas. The company operates two producing assets: the high-grade San Albino open-pit gold mine in Nueva Segovia, Nicaragua (one of the highest-grade open-pit gold mines globally at 7.0 g/t average grade), using a 500 tpd milling plant with gravity plus CIL recovery achieving 80% gold recovery and capacity to expand to 1,000 tpd; and the Moss Mine in northwestern Arizona, a conventional open-pit, heap-leach operation with 10,000 tpd crush capacity and Merrill-Crowe recovery. The company also holds two development-stage assets: the Mt. Hamilton gold-silver project in White Pine County, Nevada (fully permitted, acquired March 2026), and the PEA-stage Eagle Mountain Gold Project in Guyana (acquired July 2024 via Goldsource Mines).

Mako generates revenue almost entirely from selling gold and silver into the spot commodity market at prevailing market prices (LBMA PM Fix), distributed via direct sales to refineries, bullion dealers, and financial institutions. In Q2 2026 the company reported record gold sales of 14,610 ounces generating approximately US$63 million in revenue; Q1 2026 adjusted EBITDA was US$40.1 million with EPS of US$0.26/share. As a price-taker on a commodity product line, the company is exposed to spot pricing and incurs a gold stream obligation to Sailfish Royalty Corp. of approximately 341.7 troy ounces/month for 60 months at 20% of LBMA PM Fix (subject to floor/cap), reducing realized ounces.

The business is run by an experienced management team led by CEO Akiba Leisman (former Executive Chairman of Marlin Gold Mining; consultant at Wexford Capital), Non-Executive Chairman Eric Fier (former CEO/founder of SilverCrest Metals, sold to Coeur Mining for ~US$1.7B in February 2025), President Steve Parsons (ex-Yamana Gold SVP), CFO Ezequiel Sirotinsky, and COO Jesse Muñoz. Wexford Capital LP is the largest shareholder, having anchored the October 2025 C$55.25 million financing. The company pursues a roll-up strategy combining producing mines, district-scale exploration packages (254 km² at San Albino, 4,891 acres at Mt. Hamilton, 5,050 hectares at Eagle Mountain), and disciplined phased development.

Name

Mako Mining Corp

Legal name

Mako Mining Corp.

Website

https://makominingcorp.com

Company type

Public

Founded year

2019

Operating status

Operating

Short description

Mako Mining Corp is a publicly listed gold and silver producer (TSX-V: MKO; NASDAQ: MAKO) operating the high-grade San Albino Mine in Nicaragua and the Moss Mine in Arizona, with the Mt. Hamilton development project in Nevada and the Eagle Mountain project in Guyana, selling gold and silver into the global spot market.

Ownership category

akta.pro rank

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Gold and Silver Sales: Primary revenue stream from the sale of gold and silver produced from mining operations. The company sells gold ounces into the spot market at market prices, with revenue from both the San Albino Mine in Nicaragua and the Moss Mine in Arizona. Gold stream payments are made to Sailfish Royalty related to the Mt. Hamilton acquisition.
2. Gold Stream Payments (Liability): As part of the Mt. Hamilton acquisition, Mako makes monthly gold stream payments to Sailfish Royalty Corp - approximately 341.7 troy ounces per month for the first 60 months at 20% of LBMA PM Fix price, then approximately 100 troy ounces per month for the remaining 72 months.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Mako Mining Corp is a publicly listed gold mining, development, and exploration company operating across the Americas. The company produces gold and silver from its two operating assets — the high-grade San Albino open-pit mine in Nueva Segovia, Nicaragua (500 tpd milling with gravity plus CIL recovery) and the Moss Mine open-pit heap leach operation in northwestern Arizona — and sells the recovered metal into the global spot market at LBMA PM Fix prices. It also holds two development-stage assets that extend its pipeline: the fully permitted Mt. Hamilton gold-silver project in White Pine County, Nevada, and the PEA-stage Eagle Mountain gold project in west-central Guyana.

Product overview

Mako Mining Corp is a publicly listed gold mining, development, and exploration company operating a portfolio of mining assets across the Americas. The company operates the high-grade San Albino gold mine in Nicaragua (one of the highest-grade open pit gold mines globally) and the Moss Mine in Arizona, USA. In development, the company holds the Mt. Hamilton gold-silver project in Nevada (fully permitted, under construction) and the Eagle Mountain gold project in Guyana (PEA-stage). The company uses conventional mining and processing methods including milling/CIL recovery at San Albino and heap leach operations at Moss Mine.

Differentiator

Problem solved

Functional benefit

Products and services

• San Albino Mine San Albino Mine is a fully permitted and operating high-grade open-pit gold mine located in Nueva Segovia, Nicaragua, with gold-bearing quartz vein mineralization. The mine operates with a 500 tpd milling plant using gravity and Carbon-in-Leach (CIL) recovery methods, achieving 80% gold recovery, with capacity to expand to 1,000 tpd. It is one of the highest-grade open-pit gold mines globally, with measured and indicated resources of 670,100 tonnes grading 11.61 g/t Au.
• Moss Mine Moss Mine is an open-pit, heap leach gold and silver mining operation located in northwestern Arizona, approximately 10 miles east of Bullhead City. It uses conventional open-pit mining with heap leach processing and Merrill-Crowe recovery, with a crush capacity of 10,000 tpd. The property contains proven and probable mineral reserves of 597,744 oz Au and 6.30 Moz Ag (in 56.8 million tonnes grading 0.327 g/t Au and 3.45 g/t Ag), supporting a 15-year mine life and a post-tax NPV5% of US$254 million at US$3,500/oz Au.
• Mt. Hamilton Project Mt. Hamilton Project is an advanced-stage, open-pit gold-silver development project located in White Pine County, Nevada. The property comprises approximately 4,891 acres, including fee simple land, patented mining claims, and unpatented federal mining claims, with gold mineralization associated with skarn and epithermal systems. It is fully permitted and provides a clear pathway toward potential near-term production.
• Eagle Mountain Project Eagle Mountain Project is a PEA-stage gold development project located in west-central Guyana, approximately 200 km south-southwest of Georgetown. The project covers approximately 5,050 hectares and is being advanced as a conventional open-pit gold mining operation, with indicated resources of 1,183 Koz Au. Ongoing engineering, environmental, and permitting activities are positioning the project for future development.

Quantifiable outcome

• Record Q2 2026 gold sales of 14,610 oz generating ~US$63 million revenue
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators10 records

Expansion highlights5 records

Direct peers

• IAMGOLD Corporation: Intermediate gold producer with assets in Canada, South America, and West Africa. Comparable gold-only production model and growth pipeline development profile, though at a larger scale than Mako.
• Equinox Gold Corp. Americas-focused multi-asset gold producer with operations across the US, Mexico, and Brazil. Directly comparable growth-via-acquisition model and multi-jurisdictional production profile. Similar mid-tier precious metals focus.
• Eldorado Gold Corporation: Intermediate gold producer with operating mines in Greece, Turkey, and Canada, plus development projects. Comparable multi-jurisdictional precious metals model. Eric Fier of Mako's board previously worked at Eldorado Gold as a Project Manager.
• Fortuna Silver Mines Inc. Mid-tier precious metals producer with operating gold and silver mines in Mexico, Peru, Argentina, and West Africa. Comparable diversified Americas production footprint with both gold and silver output.
• New Gold Inc. Intermediate gold producer with operating assets in Canada (Rainy River) and Chile (Cerro San Pedro/operations transitioning). Comparable mid-tier precious metals focus, though primarily streaming and producing model.
• Coeur Mining, Inc. US-based precious metals producer with operating mines in the US, Mexico, and Canada. Highly relevant peer given Non-Executive Chairman Eric Fier serves as a Director of Coeur Mining, and Coeur acquired Eric's SilverCrest Metals for ~US$1.7B in February 2025.
• Alamos Gold Inc. Intermediate gold producer operating in Mexico, Canada, and Turkey. Comparable business model of multi-jurisdictional precious metals production and development, though at a larger scale. Useful benchmark for evaluating Mako's growth trajectory.
• Calibre Mining Corp. Americas-focused mid-tier gold producer with operating mines in Nicaragua (Limite), Nevada, and Newfoundland. Directly comparable to Mako given similar scale, Nicaraguan operating footprint, and multi-jurisdictional growth strategy. Calibre's CFO Ezequiel Sirotinsky previously held senior positions at Calibre before joining Mako.
• Argonaut Gold Inc. Junior-to-mid tier gold producer with producing assets in Mexico and the United States and development projects in Canada. Comparable in size, growth-by-acquisition strategy, and precious metals focus. Similar revenue scale and reliance on a portfolio of small-to-mid sized mines.

Emerging players

• Elevation Gold Mining Corp. Previous owner of the Moss Mine that Mako acquired in March 2025. Smaller-scale gold producer that divested its primary producing asset to Mako; remains a regional/emerging peer with adjacent Nevada exploration assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/MakoMiningCorp
• LinkedInlinkedin.com/company/mako-mining-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mako Mining Corp