Business
Amerigo Announces 2016 Second Quarter Production Results
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2016) - Amerigo Resources Ltd. (TSX: A...
About this update from Amerigo Resources Ltd
[{"type":"text","content":"Amerigo Announces 2016 Second Quarter Production ResultsVancouver, British Columbia--(Newsfile Corp. - July 13, 2016) - Amerigo Resources Ltd. (TSX: ARG) (\"Amerigo\" or the \"Company\") announced today production results for the second quarter of 2016 from Minera Valle Central (\"MVC\"), the Company's operation located near Rancagua, Chile.Operational Highlights for Q2-2016: In Q2-2016, MVC produced 14.4 million pounds of copper at a cash cost of $1.65 per pound, pursuant to a tolling agreement with Codelco's Division El Teniente and a toll processing agreement with Minera Maricunga. Quarterly copper production is at a record level and is 57% higher than Q2-2015. This is due to good performance from the historic Cauquenes deposit, despite adverse weather conditions in April which reduced fresh tailings tonnage from El Teniente. In Q3-2016, the ramp up in production should continue to improve and unit costs should continue to decrease as higher quality Cauquenes material is extracted from deeper zones. Rob Henderson, Amerigo's President and CEO, stated \"Development of the Cauquenes deposit is a game changing milestone for MVC and the Company is well positioned to take advantage of future increases in the copper price.\" Summary of Production Results for the Most Recent Five Quarters:   Q2-2016 Q1-2016 Q4-2015 Q3-2015 Q2-2015 Fresh tailings              Tonnes processed 10,620,849 10,617,420 11,269,785 11,243,557 12,120,700    Copper grade 0.117% 0.117% 0.111% 0.117% 0.115%    Copper recovery 21.3% 19.2% 21.1% 24.2% 20.4%    Copper produced (millions of pounds) 5.640 5.270 5.853 7.011 6.248 Historic tailings              Tonnes processed 5,149,732 5,087,765 4,319,838 812,934 3,073,039    Copper grade 0.224% 0.228% 0.221% 0.223% 0.222%    Copper recovery 32.2% 26.4% 19.4% 17.1% 17.2%    Copper produced (millions of pounds) 8.191 6.734 4.097 0.684 2.593 Maricunga toll processing              Copper produced (millions of pounds) 0.524 0.851 0.909 0.794 0.276 Total copper produced (millions of pounds) 14.355 12.855 10.860 8.494 9.117 Total copper delivered (millions of pounds) 14.509 12.746 10.737 8.288 9.395 Cash cost ($/pound copper) 1.65 1.82 2.16 2.07 2.15  ...