Mako Mining Announces Moss Mine Reserves and Economic Outlook

Mako Mining Corp. has announced a mineral reserve estimate for its Moss Mine in Arizona, according to National Instrument 43-101 standards. The report reveals Proven and Probable Mineral Reserves of 598,000 ounces of gold and 6.30 million ounces of silver in 56.8 million tonnes of ore. The company plans to file a detailed report within 45 days.

The project economics highlight an after-tax net present value of $254 million at discounted 5%, with gold priced at $3,500 per ounce. The mine is projected to recover 442,904 ounces of gold and 2.1 million ounces of silver over a 15-year lifespan. No initial capital is needed, with sustaining capital costs at $86 million, expected to be funded through cash flow.

The Moss Mine acquisition cost $2 million, with management anticipating a high return on investment. The phased development includes increasing plant capacity and transitioning to higher-grade ore. Future announcements may reveal cost reduction strategies and exploration expansions.