Mako Mining: Record Gold Sales, Lower Profits, And I'm Still Buying

In Q2, Mako Mining (MAKO) sold a record 14,610 oz of gold, but its financial results were worse than in Q1. The company's thesis centers on owning two producing mines and two advanced projects, all without share dilution or new debt. San Albino drives 86% of gross profit, but reliance and lack of reserves pose risks; Moss's long-term value depends on grade transition by 2027. Key upcoming catalysts include a promised capital structure announcement, Moss grade improvement, and project milestones at Mt. Hamilton and Eagle Mountain.