Mako Mining Just Put a 15-Year Reserve Behind the Moss Mine

Mako Mining (TSXV: MKO; Nasdaq: MAKO) just did something that changes how the market can value it: it put a formal reserve behind the Moss Mine.

Mako operates Moss in Arizona, and it has now booked its first NI 43-101 Proven & Probable reserves — 597,744 oz Au and 6.30 Moz Ag, grading 0.327 g/t Au and 3.45 g/t Ag across 56.8M tonnes. A maiden reserve statement is a credibility milestone, moving an asset from story to schedule.

The upside case is the mine life behind those ounces. The reserve underpins a 15-year plan with average annual production of roughly 30,900 oz Au through 2039, and a post-tax NPV5% of US$254 million at US$3,500/oz Au and US$50/oz Ag. That is the kind of long-life profile that can attract institutional attention to a name that previously had none of it on paper.

The risk: reserve economics are modelled on elevated metal price assumptions, and a sustained pullback in gold or silver would pressure that NPV.

First reserve, 15-year life, institutional-grade framing. Mako is worth watching.

This is market commentary, not investment advice — small-cap resource stocks are highly speculative and you can lose your entire investment.