Amerigo Resources Ltd.[ARG-TSX; ARREF-OTCQX] reported production outcomes for the quarter ended September 30, 2021 from the 100%- owned Minera Valle Central (MVC) operation situated near Rancagua, Chile. Dollar quantities remain in U.S. dollars.
In Q3-2021, MVC produced 16 million pounds of copper at a money expense of $1.62 per pound and 0.3 M pounds of molybdenum.
Q3-2021 copper production was at 109%of assistance (YTD-2021: 101%of assistance), due to greater fresh tailings tonnage and grade. Throughout the quarter, MVC likewise effectively finished a series of prepared plant adjustments which now permit it to process a greater throughput of fresh tailings without compromising healing. Production from fresh tailings in Q3-2021 represented 54%of quarterly production.
Molybdenum production in Q3-2021 was at 100%of guidance2 (YTD-2021: 95%of assistance), partially impacted as more copper production originates from fresh tailings than from Cauquenes, as fresh tailings have lower molybdenum material.
” Amerigo finished Q3-2021 with really strong production outcomes. The yearly plant upkeep shutdown was finished effectively and on schedule, and complete production operations resumed on October 2,2021 An overall of 1,390 upkeep jobs and jobs were finished securely and on time by our group in Chile to guarantee MVC’s plant continues to run as anticipated,” stated Aurora Davidson, Amerigo’s President and CEO.
Q3-2020 money expense of $1.62/ pound was 8%lower than the Q3 money expense assistance of $1.76/ lb3 due to greater than forecasted production and lower than expected power, steel and lime expenses.
MVC’s typical copper cost in Q3-2021 was $4.23/ pound, compared to $4.44/ pound in Q2-2021
On September 30, 2021, the business’s money and limited money balance was $71 million (a boost of $18 million from June 30, 2021) and exceptional bank financial obligation was $35 million (the same from June 30, 2021).
Amerigo produces copper concentrate and molybdenum concentrate as a spin-off at the MVC operation in Chile by processing fresh and historical tailings from Codelco’s El Teniente mine, the world’s biggest underground copper mine.