Business
Amerigo Announces Q3-2017 Production Results
Vancouver, British Columbia--(Newsfile Corp. - October 16, 2017) - Amerigo Resources Ltd. (TSX...
About this update from Amerigo Resources Ltd
[{"type":"text","content":"Amerigo Announces Q3-2017 Production ResultsVancouver, British Columbia--(Newsfile Corp. - October 16, 2017) - Amerigo Resources Ltd. (TSX: ARG) (\"Amerigo\" or the \"Company\") announced today production results for the third quarter of 2017 from Minera Valle Central (\"MVC\"), the Company's 100% owned operation located near Rancagua, Chile.Operational Highlights for Q3-2017: In Q3-2017, MVC produced 15.5 million pounds of copper at a cash cost of $1.69 per pound, pursuant to a tolling agreement with Codelco's Division El Teniente. Production guidance for 2017 is maintained at 60 to 65 million pounds of copper and 1.5 million pounds of molybdenum, at an annual cash cost of $1.60 to $1.75 per pound.Construction of MVC's Phase Two expansion project is underway and is on track for completion in Q3-2018 with full production expected in Q4-2018. The project will increase MVC's production to 85 to 90 million pounds of copper per year, at an estimated cash cost of $1.40 to $1.60 per pound. Summary of Production Results for the Most Recent Five Quarters:   Q3-2017 Q2-2017 Q1-2017 Q4-2016 Q3-2016 Fresh tailings              Tonnes processed 11,152,930 10,708,437 10,566,171 9,782,870 11,373,542    Copper grade 0.117% 0.110% 0.120% 0.116% 0.113%    Copper recovery 19.8% 20.8% 16.6% 18.4% 19.7%    Copper produced (millions of pounds) 5.700 5.403 4.651 4.608 5.571 Historic tailings              Tonnes processed 5,176,546 5,503,942 5,813,239 4,935,260 5,435,474    Copper grade 0.235% 0.253% 0.254% 0.239% 0.236%    Copper recovery 33.0% 33.5% 29.4% 31.1% 34.4%    Copper produced (millions of pounds) 9.787 10.289 9.594 8.065 9.756 Maricunga toll processing              Copper produced (millions of pounds) - 0.570 0.896 0.918 0.700 Total copper produced (millions of pounds) 15.487 16.262 15.141 13.591 16.027 Total copper delivered (millions of pounds) 15.251 16.197 15.175 13.417 15.599 Cash cost ($/pound copper) 1.69 1.53 1.71 1.87 1.60  Release of Financial Results for Q3-2017: The Company will release Q3-2017 financial results at market open on Wednesday November 8, 2017, followed by an investor conference call on Thursday November 9, 2017 at 11:00 am Pacific Daylight Ti...