VANCOUVER, October 19, 2026 — Mako Mining Corp. reported total gold production of 12,743 ounces for the third quarter of 2026, generating approximately $50 million in revenue. The company also announced progress in its permitting efforts for the Mt. Hamilton project and detailed plans to increase capacity at its Arizona-based Moss Mine.
Operational Performance at San Albino and Moss Mine
The San Albino mine in Nicaragua served as the primary contributor to the company’s quarterly production. According to Mako Mining, the site recovered 9,145 ounces of gold during the period. Operations at San Albino involved processing a mix of material, consisting of 48% diluted vein material and 52% historical dump and other mineralized material. The company reported that 53,046 tonnes were milled at the site, with an average availability of 98%.
The Moss Mine in Arizona recovered 3,599 ounces of gold during the same quarter. Chief Executive Officer Akiba Leisman stated that the Moss Mine remained constrained by the capacity of its legacy plant throughout the quarter. Despite these mechanical limitations, the company successfully moved forward with its broader production strategy across its asset portfolio.
Strategic Permitting at Mt. Hamilton
Beyond its active production sites, Mako Mining is advancing its Mt. Hamilton project. The company confirmed that it received condemnation drilling permit amendments for the site as of mid-October. According to the company, these amendments remove a primary bottleneck that had previously hindered development at the project. This permitting progress is part of a wider effort to bring the asset closer to operational readiness.
Future Capacity Expansion at Moss Mine
Mako Mining has outlined a significant expansion plan for the Moss Mine to address existing mechanical constraints. Following engineering assessments conducted throughout 2026, the company has already procured the necessary equipment to upgrade its crushing circuit. This expansion is designed to increase processing capacity to more than 12,000 short tons per day by the third quarter of 2027.
The company stated that this projected capacity represents a 130% increase over the levels recorded in the third quarter of 2026. Furthermore, the planned output is 40% higher than the figures outlined in the company’s August 2026 Technical Report. Mako Mining noted that this upgrade path was selected specifically because it allows for increased throughput without triggering a major permitting review.
Financial Position and Revenue Breakdown
The company maintained a stable financial position as it heads into the final quarter of the year. As of September 30, 2026, Mako Mining held $119.3 million in cash, securities, and trade receivables. This liquidity supports the company’s ongoing operational and capital expenditure requirements.
Revenue for the third quarter reached approximately $50 million. This figure reflects the sale of 11,581 ounces of gold, which is a portion of the 12,743 ounces recovered during the quarter. The company also accounted for 894 ounces of gold delivered in connection with a gold stream related to the purchase of the Mt. Hamilton project. These figures are subject to adjustments, including payments to Sailfish, which are deducted from the average realized price of gold when calculating total revenue.
San Albino Mining and Stockpile Details
Mining activities at San Albino during the third quarter of 2026 resulted in 42,565 tonnes of material extracted. This output contained 10,913 ounces of gold at an average grade of 7.97 grams per tonne and 11,489 ounces of silver at 8.40 grams per tonne. The extracted material included 27,321 tonnes of diluted vein material and 15,244 tonnes of historical dump and other mineralized material, which were processed at a rate of 587 tonnes per day.
According to Mako Mining, the site achieved an average grade of 6.66 grams per tonne of gold for the 53,046 tonnes milled during the quarter. By the end of the period on September 30, 2026, the company reported a stockpile estimated at 109,868 tonnes. This inventory holds an average grade of 2.74 grams per tonne of gold, representing a total of 9,666 ounces of contained gold available for future processing.
Sources
- Mako Mining Corp.: Mako Mining Announces Q3 2026 Production Results with Gold Recovered of 12,743 oz Au, and Positive Permitting Updates at Mt. Hamilton and San Albino
- Mako Mining Announces Q3 2026 Production Results with Gold Recovered of 12,743 oz Au (Sales of 11,581 oz Au), and Positive Permitting Updates at Mt. Hamilton and San Albino
- Mako Mining Announces Q3 2026 Production Results with Gold Recovered of 12,743 oz Au (Sales of 11,581 oz Au), and Positive Permitting Updates at Mt. Hamilton and San Albino
Photo: Calistemon (CC BY-SA 4.0)
