MAKOF
MAKO MNG CORP
stock OTC

MKO.V Mako Mining is a gold producer. Run rate production should double within 12 months and almost double again 12 months after that. There is no analyst coverage so quants can’t see what’s coming but the stock has shown some life recently as quants can see earnings from the past two quarters picking up. Institutions can’t own it because there is no analyst coverage either but it might be coming. CEO has been discussing a potential US listing and Stifel recently acquired a team from Eight Capital that previous had coverage albeit without any financial estimates.
Mako is controlled by Wexford Capital, the same outfit that founded and IPO’ed Diamondback Energy in 2012 and has been a rip roaring success. It’s possible once it’s listed in the US, FANG holders will buy a few shares of MAKOF to get into Wexford’s gold vehicle on the ground floor.
Most investors have heuristics against buying gold stocks at all and because MKO isn’t that liquid and its original producing mine is in Nicaragua even the few investors that will buy gold stocks won’t buy it. I think that’s why it seems like such a monumentally mispriced opportunity. The good news is stock will get more liquid when it’s priced right and mines coming on stream in Arizona and Guyana dilute the Nicaragua exposure.
I think Mako can 5-10x in 3-5 years but I have been wrong before. It’s my second biggest position after Fairfax Financial. It has more upside but also more risk.

MKO.V Mako Mining is a gold producer. Run rate production should double within 12 months and almost double again 12 months after that. There is no analyst coverage so quants can’t see what’s coming but the stock has shown some life recently as quants can see earnings from the past two quarters picking up. Institutions can’t own it because there is no analyst coverage either but it might be coming. CEO has been discussing a potential US listing and Stifel recently acquired a team from Eight Capital that previous had coverage albeit without any financial estimates.
Mako is controlled by Wexford Capital, the same outfit that founded and IPO’ed Diamondback Energy in 2012 and has been a rip roaring success. It’s possible once it’s listed in the US, FANG holders will buy a few shares of MAKOF to get into Wexford’s gold vehicle on the ground floor.
Most investors have heuristics against buying gold stocks at all and because MKO isn’t that liquid and its original producing mine is in Nicaragua even the few investors that will buy gold stocks won’t buy it. I think that’s why it seems like such a monumentally mispriced opportunity. The good news is stock will get more liquid when it’s priced right and mines coming on stream in Arizona and Guyana dilute the Nicaragua exposure.
I think Mako can 5-10x in 3-5 years but I have been wrong before. It’s my second biggest position after Fairfax Financial. It has more upside but also more risk.