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Amerigo Resources Reports Q1-2021 Production Results in Line with Guidance
VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; ARREF:OTC) is pleased to announce production results for the q
About this update from Amerigo Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; ARREF:OTC) is pleased to announce production results for the quarter ended March 31, 2021 (“Q1-2021”) from Minera Valle Central (\"MVC\"), the Company’s 100% owned operation located near Rancagua, Chile. All dollar amounts in this news release refer to U.S. dollars. MVC produced 15.5 million pounds (“M lbs”) of copper at a cash cost of $1.89 per pound (“/lb”) and 0.4 M lbs of molybdenum. With respect to the Company’s Q1-2021 guidance provided on January 14, 2021, copper production results were at 99% of guidance, molybdenum production was 1% over guidance and cash cost was 3% over guidance ($0.4 million) due to higher-than-expected maintenance work carried out at the MVC plant in the quarter. MVC’s average copper price in Q1-2021 was $4.08/lb. During Q1-2021, MVC made debt repayments of $6.5 million, and the Company’s ending cash balance on March 31, 2021 was $38.4 million. “We are pleased to report a strong operational quarter. The MVC team continued to meet production targets and to operate safely despite a significant spike in COVID-19 cases in Chile in recent weeks. At a quarterly average copper price of $4.08 per pound, Amerigo will be posting strong quarterly financial results, which will be released on May 5, 2021”, said Aurora Davidson, Amerigo’s President and CEO. Q1-2021 Q4-2020 Q3-2020 Q2-2020 Q1-2020 Fresh tailings Tonnes per day 128,238 136,011 119,285 119,435 120,037 Operating days 90 92 92 91 78 Tonnes processed 11,541,378 12,512,980 10,974,235 10,868,556 9,306,854 Copper grade 0.143% 0.135% 0.136% 0.137% 0.125% Copper recovery 19.3% 19.3% 20.4% 20.3% 19.9% Copper produced (M lbs) 7.03 7.17 6.68 6.66 5.13 Cauquenes tailings Tonnes per day 55,457 54,541 54,292 &...