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Amerigo Resources Reports Q2-2018 Production Results
VANCOUVER, British Columbia, July 11, 2018 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. ("Amerigo" or the "Company") (TSX:ARG) announced today production results
About this update from Amerigo Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, July 11, 2018 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (\"Amerigo\" or the \"Company\") (TSX:ARG) announced today production results for Q2-2018 from Minera Valle Central (\"MVC\"), the Company’s 100% owned operation located near Rancagua, Chile. Amerigo remains fully leveraged to the price of copper Rob Henderson, Amerigo's President and CEO, stated “Production results in Q2-2018 met expectations and MVC is nearing completion of the Phase Two expansion project which will increase production and lower cash costs. Amerigo remains well positioned for a strong close of the year, fully leveraged to the price of copper.” Production and cash cost for Q2-2018 are in line with guidance In Q2-2018 Amerigo produced 14.7 million pounds of copper at a cash cost of $1.71 per pound. Molybdenum production was 0.4 million pounds. Production guidance for the full year 2018 remains unchanged. In 2018, Amerigo expects to produce 65 to 70 million pounds of copper at a cash cost of $1.45 to $1.60 per pound. In 2018, the Company also expects to produce 1.5 million pounds of molybdenum. Stronger copper and molybdenum production and lower cash costs are expected in the second half of the year, when MVC completes the Cauquenes Phase Two expansion project. Q2-2018 Q1-2018 Q4-2017 Q3-2017 Q2-2017 Fresh tailings Tonnes processed 11,114,743 10,521,210 11,290,794 11,152,930 10,708,437 Copper grade 0.118 % 0.119 % 0.123 % 0.117 % 0.110 % Copper recovery 19.1 % 19.3 % 19.7 % 19.8 % 20.8 % Copper produced (millions of pounds) 5.526 5.309 6.030 5.700 5.404 Cauquenes tailings Tonnes processed 5,642,687 5,328,898 5,650,522 5,716,546 5,522,301 Copper grade 0.238 % 0.246 % 0.247 % 0.240 % 0.253 % Copper recovery 30.7 % 30.8 % 31.2 % 32.4 % 33.4 % Copper produced (millions of pounds) 9.132 8.901 9.596 9.786 10.290 Maricunga toll processing Copper produced (millions of pounds) - - - - 0.570 Total copper produced (millions of pounds) 14.658 14.210 15.625 15.487 16.26...