Mako Mining Corp (OTCMKTS:MAKOF) Stock On Radar After Q3 2022 Production Results

If a mining company announced its production data for a particular mine it operates then it is almost always a good idea for investors to take a look. Last Friday Mako Mining Corp (OTCMKTS:MAKOF) was in the news after the company announced the production results for the third fiscal quarter for its San Albino gold mine located in the Northern region of Nicaragua.

Trading Data

On Friday, MAKOF stock gained 6.23% to $0.1296 with more than 25K shares, compared to its average volume of 74.76K shares. The stock moved within a range of $0.1220 – 0.1296 after opening trade at $0.1250.

Mako Mining Provides Q3 2022 Production Results

The mine had been in commercial production since as far back as July 1, 2021 and this was the fifth full quarter in which it had been in production. It may be a good idea for investors to take a look at some of the highlights of the production results and then make their minds about the Mako Mining stock.

The company announced that it had mined as much as 52084 tons during the course of the quarter and had managed to produce as much as 10531 ounces of gold. The gold that was produced had a blended grade of as much as 6.28 grams per ton of gold. On the other hand, the company also milled as much as 44452 tons and that contained as much as 11172 ounce of gold with a blended grade of 7.82 grams per ton of gold.

Technical Data

MAKOF stock is trading above the 20-Day and 50-Day Moving averages of $0.12 and $0.12 respectively. However, the stock is trading below the 200-Day moving average of $0.23.