CA - Amerigo Resources produces 16.5M lbs copper in Q1 from MVC mine
2023-04-11 10:52:27 ET
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Amerigo Resources ( OTCQX:ARREF ) said Tuesday its Minera Valle Central mine in Chile produced 16.5 million pounds of copper at a cash cost of $1.91 per pound during the first quarter of 2023.
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Copper production in the quarter was 4.5% over guidance and copper price was above $4 per pound for the first time since Q2-2022, the company said.
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Q1 molybdenum production was 0.3 M lbs, 5.2% over guidance.
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"Strong credits from higher molybdenum prices reduced cash cost by 11%, or $0.23 per pound, compared to our annual cash cost guidance,” CEO Aurora Davidson said.
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Full-year 2023 annual copper production is expected to be 62.3 M lbs and molybdenum production is expected to be 1.0 M lbs.
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Amerigo Resources produces 16.5M lbs copper in Q1 from MVC mine