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Amerigo Resources Reports Operational Continuity and Q1-2020 Production Results
VANCOUVER, British Columbia, April 15, 2020 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. ("Amerigo" or the "Company") (TSX: ARG) announced today Q1-2020 productio
About this update from Amerigo Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, April 15, 2020 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (\"Amerigo\" or the \"Company\") (TSX: ARG) announced today Q1-2020 production results from Minera Valle Central (\"MVC\"), the Company’s 100% owned operation located near Rancagua, Chile. MVC produced 12.1 million pounds of copper at a cash cost of US$1.87/lb per pound, and 0.2 million pounds of molybdenum. Copper production results are in line with the Company’s 2020 guidance (refer to our news release of February 19, 2020) where the Company announced a reduction in Cauquenes tonnage processing through H1-2020 in response to drought conditions in central Chile. Q1-2020 cash cost was US$0.07/lb higher than expected, mostly due to lower molybdenum by-product credits. MVC had forecasted that in H1-2020, processing rates would be 125,000 tonnes per day (“TPD”) for fresh tailings and 40,000 TPD for Cauquenes. In Q1-2020 actual processing rates averaged 120,868 TPD for fresh tailings and 44,427 TPD for Cauquenes. MVC continues to expect that Cauquenes processing rates could increase to 50,000 TPD starting in June if rain levels normalize in April and May, and that annual production from fresh tailings and Cauquenes would be approximately 55 to 60 million pounds, excluding any effect from plant optimization initiatives. Operating days in Q1-2020 were 77 for fresh tailings and 67 for Cauquenes due to the annual plant maintenance shutdown at MVC and El Teniente and unexpected plant stoppages due to downtime of one or more of MVC’s water thickeners in connection with work carried out to improve water recovery and to adjust the mechanisms to deal with higher density tailings. There have been no plant stoppages since March 3, 2020. Q1-2020 Q4-2019 Q3-2019 Q2-2019 Q1-2019 Fresh tailings Tonnes processed 9,306,854 10,529,332 10,883,200 10,940,468 9,956,069 Copper grade 0.125% 0.112% 0.110% 0.111% 0.110% Copper recovery 19.9% 17.5% 18.8% 19.1% 19.0% Copper produced (millions of pounds) 5.131 4.571 4.985 5.121 4.593 Cauquenes tailings Tonne...