Mako Mining – Comprehensive Operations Update With Record Gold Production In September
Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins us for a comprehensive operations update, recapping the record gold production metrics in September at the San Albino Gold Mine in Nicaragua.
We start off reviewing the various nuances and process around the getting the surface rights purchased and the permitting underway from the Las Conchitas Project, adjacent to the San Albino Project and deposit. There was a slight delay for a few months due to the unique nature of permitting bulk samples, and this temporarily affected the blended head-grades and metals recoveries in the summer month, but then as the ore from Las Conchitas came into the processing plant blend, there has been a marked improvement in both the mining head grade and the recovery rates. Head grades averaged 8.4 g/t Au with recoveries of 85.5% during September, and the company anticipates this trend to continue as they continue to access higher-grade zones at Las Conchitas while maintaining an optimal blend to the plant.
Akiba highlights how the mill is still operating between 120% – 125% on nameplate capacity north of 600 tpd, and now with the higher head grades from Las Conchita ore this has significantly improved free cash flow generation from the mine. This allows the Company to rapidly repay debt while investing heavily in exploration. A maiden resource for Las Conchitas is very nearly complete, due out in the next few weeks, which will allow the Company to be operating at these levels far into the future.
- In full disclosure, Shad is a shareholder of Mako Mining.