Business
Amerigo Resources Reports 2019 Production Results and Provides 2020 Guidance
VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. ("Amerigo" or the "Company") (TSX: ARG) announces 2019 production results
About this update from Amerigo Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (\"Amerigo\" or the \"Company\") (TSX: ARG) announces 2019 production results from Minera Valle Central (\"MVC\"), the Company’s 100% owned operation located near Rancagua, Chile. Amounts are reported in U.S. dollars. Amerigo’s MVC produced 69.8 million pounds copper in 2019 In 2019, MVC produced 69.8 million pounds of copper at a cash cost of $1.82 per pound, including production from fresh tailings (19.3 million pounds), Cauquenes historic tailings (38.9 million pounds) and production from slag processing for Division El Teniente (“DET”) (11.7 million pounds). MVC also produced 1.4 million pounds of molybdenum. Production was affected by MVC’s mine plan in H1-2019 when MVC processed lower grade and high fines material from Cauquenes. In July 2019 MVC completed a deeper sump that is providing access to better quality material, but production has been affected by low plant recoveries. Low recoveries are partially due to an increase in density -or said differently, a decrease in water content- of fresh tailings as a result of DET’s water preservation programs in response to severe drought conditions in the region where DET and MVC operate. Higher densities negatively impact plant recoveries and contribute to a stressed process. In November 2019 MVC completed a comprehensive plant performance assessment and identified other areas of opportunity to improve recoveries, on which MVC continues to work. 2019 Q4-2019 Q3-2019 Q2-2019 Q1-2019 Fresh tailings Tonnes processed 42,309,069 10,529,332 10,883,200 10,940,468 9,956,069 Copper grade 0.111% 0.112% 0.110% 0.111% 0.110% Copper recovery 18.6% 17.5% 18.8% 19.1% 19.0% Copper produced (millions of pounds) 19.269 4.571 4.985 5.121 4.593 Cauquenes tailings Tonnes processed 20,685,058 5,365,311 5,226,443 5,094,589 4,941,816 Copper grade 0.254% 0.273% 0.270% 0.232% 0.237% Copper recovery 33.6% 34.5% 35.7% 31.6% 32.6% Copper produced (millions of pounds)...