Mako Mining Corp.: Mako Mining Reports Proven and Probable Mineral Reserves of 598 Koz Au and 6.30 Moz Ag Grading 0.327 g/t Au and 3.45 g/t Ag in 56.8 M Tonnes at the Moss Mine in Arizona, Supporting
Mako Mining Corp. (NASDAQ:MAKO, TSX-V:MKO) reported a NI 43-101 mineral reserve estimate for its Moss Mine in Arizona (effective June 30, 2026): 56.8 Mt grading 0.327 g/t Au and 3.45 g/t Ag, totaling 597,744 oz gold and 6.30 Moz silver. Using $3,500/oz Au and $50/oz Ag, it projects after-tax NPV(5%) of $254M and 15-year mine life with no initial capital and $86M sustaining capex.
How this was made
The 30-second read
Why it matters
The disclosed Proven & Probable reserves (56.8 Mt grading 0.327 g/t Au and 3.45 g/t Ag) and after-tax NPV@5% ($254M) can change how the market values the Moss asset and the company’s ability to access capital at a lower cost, per management commentary.
Market read
Traders may adjust valuation models and position sizing based on the newly disclosed reserve base and reserve-based production profile (15-year LOM; peak ~46.1 koz Au in 2031).
What to watch
The release emphasizes “no initial capital” and LOM sustaining capex ($86M), but does not detail sensitivity analyses, permitting/operational risks, or how reserve cut-off grade (0.14 g/t Au) may change under different price/cost regimes.
Background
Mako acquired the Moss Mine in March 2025 and is filing an updated NI 43-101 technical report within 45 days; this is the first time it has declared Proven & Probable reserves for Moss.
Ticker impact
Mako reports its first NI 43-101 Proven & Probable reserves for the Moss Mine, including after-tax NPV@5% of $254M and 15-year LOM production.
Likely positive near-term sentiment as investors re-rate the Moss asset on disclosed reserves/NPV, though magnitude may be limited by small scale and gold/silver price sensitivity.
The release is a primary disclosure (effective June 30, 2026) with specific reserve tonnage/grade and DCF outputs; however, it uses fixed metal prices and does not include incremental guidance beyond the reserve-based economics.
Market effects
Adds another NI 43-101 reserve datapoint for a US/Arizona heap-leach style gold/silver producer, reinforcing investor focus on reserve quality and sustaining-capex funding.
Limited direct regional read-through; could modestly support sentiment toward Arizona mining assets if investors track local project economics.
Mostly company-specific; broader impact is constrained because the disclosed economics are based on assumed metal prices rather than spot-driven updates.
Counterpoint
Reserve economics are calculated using assumed gold/silver prices ($3,500/oz Au, $50/oz Ag) and stated recoveries; if realized prices/recoveries differ, the valuation uplift may be overstated.
Key entities
- companyMako Mining Corp.
Subject of the release; declares Proven & Probable reserves and updated Moss Mine project economics under NI 43-101.
- assetMoss Mine
Arizona gold/silver project for which Mako provides reserve tonnage/grade and DCF-based economics.
