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Amerigo Announces Q4-2015 and Full Year Production Results
VANCOUVER, BC--(Marketwired - February 05, 2016) - Amerigo Resources Ltd. (TSX: ARG) ("Amerigo" or the "Company") announced today production results for the fou
About this update from Amerigo Resources Ltd
[{"type":"text","content":" VANCOUVER, BC--(Marketwired - February 05, 2016) - Amerigo Resources Ltd. (TSX: ARG) (\"Amerigo\" or the \"Company\") announced today production results for the fourth quarter of 2015 from Minera Valle Central (\"MVC\"), the Company's operations located near Rancagua, Chile. MVC produced 10.860 million pounds of copper, including copper produced pursuant to MVC's tolling contract with Minera Maricunga during the three months ended December 31, 2015. Production for the full year of 2015 was 37.337 million pounds of copper and 98,000 pounds of molybdenum. Construction of the Cauquenes extraction facility was completed in December 2015. The historic Cauquenes tailings are currently being processed in MVC's plant in conjunction with the fresh tailings from El Teniente. Plant commissioning and optimisation work is ongoing and Cauquenes current copper recoveries of 28% are expected to increase to 33% in the second half of the year. Copper production is expected to continue to ramp up in 2016 as Cauquenes grade increases with depth and recovery improves. In 2016, MVC is expected to produce 55 to 60 million pounds of copper, at an annual cash cost of $1.65 to $1.85/lb Cu. No molybdenum production is expected in 2016 due to prevailing low molybdenum prices. Rob Henderson, Amerigo's President and CEO, stated \"The MVC team performed well to safely deliver the first phase of the Cauquenes expansion project on time and under budget. As a result, we look forward to increased copper production and further cost reductions in 2016.\" Key operating and sales metrics for 2015 are shown below. Production Metrics: Q4-2015 Q3-2015 Q2-2015 Q1-2015 Q4-2014 Copper Production (million lbs) 10.860 8.494 9.118 8.865 11.352 Molybdenum Production (million lbs) - - - 0.098 0.160 Ore milled (Tonnes 000's) 15,589 12,065 15,194 13,312 15,995 Copper Grade (%) 0.142 0.124 0.136 0.149 0.140 Copper Recovery (%) 20.4 23.3 19.4 18.5 21.6 Power Costs (US$ per kwh) $0.105 $0.111 $0.091 $0.086 $0.098 Sales Metrics: Q4-2015 Q3-2015 Q2-2015 Q1-2015 Q4-2014 Copper Sales1 (Milli...