Mako Mining Corp.
For the period ended Mar 31, 2026. Filed May 15, 2026.
View on SEC.govAbout this filing
What a company based outside the US has published at home or sent to its shareholders. It is how many foreign companies share results and news between annual reports.
Mar 31, 2026 · Filed May 15, 2026
Use the contents to explore the available documents and sections.
Contents
EX-99.2 · Trend Analysis
Management’s Discussion and Analysis For the three months ended March 31, 2026
TREND ANALYSIS
Summary of Quarterly Results
| (in $000's excluding per share) · 2026 · 2025 · 2024 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Jan - Mar | Oct - Dec | Jul - Sept | Apr - Jun | Jan - Mar | Oct - Dec | Jul - Sept | Apr - Jun | |
| Revenue | 68,595 | 50,394 | 27,575 | 38,715 | 31,788 | 28,849 | 15,739 | 28,278 |
| Cost of sales | (27,246) | (20,825) | (18,018) | (19,682) | (14,926) | (12,586) | (11,242) | (11,715) |
| Gross profit | 41,349 | 29,569 | 9,557 | 19,033 | 16,862 | 16,263 | 4,497 | 16,563 |
| E&E expenses | (2,501) | (2,837) | (2,787) | (2,209) | (1,530) | (1,241) | (1,148) | (179) |
| G&A expenses | (4,388) | (3,611) | (2,893) | (2,603) | (1,701) | (2,096) | (1,736) | (3,023) |
| Other income (expenses) | 760 | (928) | 360 | 1,576 | (1,158) | (2,357) | (641) | (1,463) |
| Income taxes | (12,071) | (7,886) | (3,041) | (6,979) | (3,050) | (5,912) | (595) | (3,130) |
| Net income (loss) | 23,149 | 14,307 | 1,196 | 8,818 | 9,423 | 4,657 | 377 | 8,768 |
| Basic income (loss) per share | 0.26 | 0.17 | 0.01 | 0.11 | 0.12 | 0.06 | 0.00 | 0.13 |
| Diluted income (loss) per share | 0.26 | 0.16 | 0.01 | 0.11 | 0.12 | 0.06 | 0.00 | 0.13 |
| The sum of the quarters may not equal the annual results due to rounding. | ||||||||
| Consolidated gold ounces produced | 13,869 | 12,105 | 7,822 | 11,074 | 9,820 | 11,070 | 6,327 | 12,206 |
| Consolidated gold ounces sold | 13,721 | 11,564 | 7,830 | 11,476 | 10,817 | 10,888 | 6,532 | 12,313 |
| Average realized gold price ($/oz)1 | 4,902 | 4,313 | 3,454 | 3,323 | 2,915 | 2,650 | 2,409 | 2,296 |
Revenue: The variation between quarters resulted from changes in the number of ounces sold and the average prices realized for gold. Additionally, the revenues for periods subsequent to the quarter ended March 31, 2025 are expected to be impacted by the acquisition of the Moss Mine.
Cost of sales: The variation between quarters resulted from differences in the deposit and the grade of mineralized material mined during each period.
Exploration and evaluation expenditures: Quarter on quarter increase in exploration expenses resulted from drilling exploration to define new mineral reserves and resources at various concessions near the San Albino Mine in Nicaragua and advancing Eagle Mountain Project in Guyana.
Other income (expenses): Other income (expense) for the period up to June 30, 2025, was affected by quarter-over-quarter changes in the fair value of the embedded derivative in the silver loan with Sailfish. During the quarter ended June 30, 2025, the Company recognized a gain of $1 million related to the elimination of the contingent consideration payable. During the quarter ended December 31, 2025, the Company recognized a loss of $1.3 million on the extinguishment of the Wexford Loan.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.