Amerigo Resources Ltd. (TSX:ARG) ("Amerigo" or the "Company") is
pleased to announce production results for the second quarter of
2013 from Minera Valle Central ("MVC"), the Company's operations
located near Rancagua, Chile. MVC produced 9.55 million pounds of
copper and 0.176 million pounds of molybdenum during the three
months ended June 30, 2013.
Dr. Klaus Zeitler, Amerigo's President and CEO, stated "As
previously reported, a slide in one of the Colihues working areas
necessitated a change to MVC's mine plan, and during the second and
third quarters Colihues extraction rates and grades will be lower
than originally anticipated. April copper production was 36% lower
than that of April 2012, as production was limited to 22 days in
the month. The revised mine plan began to show positive results in
the last two months of the quarter, as June copper production was
slightly higher than that for June 2012".
Rob Henderson, Amerigo's Chief Operating Officer, added
"Production challenges in Colihues are expected to continue through
Q3, with gradual improvement through Q4. Our production outlook for
the year remains at the lower end of 45-50 million pounds of copper
and 700,000 pounds of molybdenum".
Key operating and sales metrics are shown below.
----------------------------------------------------------------------------
Production Metrics: Q2-2013 Q1-2013 Q4-2012 Q3-2012 Q2-2012
----------------------------------------------------------------------------
Copper Production(million lbs) 9.550 12.834 13.561 12.701 11.570
----------------------------------------------------------------------------
Molybdenum Production (million lbs) 0.176 0.258 0.291 0.322 0.229
----------------------------------------------------------------------------
Ore milled (Tonnes 000's) 13,464 13,502 14,727 14,139 13,631
----------------------------------------------------------------------------
Copper Grade (%) 0.158 0.160 0.155 0.149 0.156
----------------------------------------------------------------------------
Copper Recovery (%) 20.3 27.0 27.0 27.3 24.7
----------------------------------------------------------------------------
Power Costs (per kwh) $0.086 $0.097 $0.185 $0.166 $0.195
----------------------------------------------------------------------------
Sales Metrics: Q2-2013 Q1-2013 Q1-2012 Q4-2011 Q3-2011
----------------------------------------------------------------------------
Copper Sales (1) (Million lbs) 9.437 12.482 13.712 13.024 10.762
----------------------------------------------------------------------------
Company's Recorded Copper Price
($US/lb) (2) 3.40 3.52 3.52 3.52 3.74
----------------------------------------------------------------------------
Molybdenum Sales (million lbs) 0.178 0.241 0.286 0.338 0.243
----------------------------------------------------------------------------
Company's Recorded Molybdenum Price
($US/lb) 11.00 11.34 11.08 11.64 14.02
----------------------------------------------------------------------------
(1) Copper sales per the Company's records, which may differ
from copper sales per the smelter. All differences between Company
and smelter records for a quarter will be recorded as settlement
adjustments in subsequent quarters until settled.
(2) Copper price recorded for the Company's financial statements
for the quarter before smelter and refinery charges and settlement
adjustments to prior quarters' sales. The Company calculates this
number by dividing quarterly dollar sales as recorded in its
financial statements (calculated based on copper deliveries per the
smelter) over quarterly copper sales per the Company's own
records.
The Company will release Q2-2013 financial results at market
open on Tuesday August 6, 2013 and will hold an investor conference
call to discuss the results on Wednesday August 7, 2013 at 11:00 am
Pacific Daylight Time/2:00 pm Eastern Daylight Time.
To participate in the call, please dial the following
number:
1-866-226-1792 (Toll-Free North America)
Please let the operator know you wish to participate in the
Amerigo Resources conference call.
Media are invited to attend on a listen-only basis.
Following management's discussion of the quarterly results, the
analyst and investment community will be invited to ask
questions.
Amerigo Resources Ltd. produces copper and molybdenum under a
long term partnership with the world's largest copper producer,
Codelco, by means of processing fresh and old tailings from the
world's largest underground copper mine, El Teniente near Santiago,
Chile. Tel: (604) 681-2802; Fax: (604) 682-2802; Web:
www.amerigoresources.com; Listing: ARG:TSX
Certain of the information and statements contained herein that
are not historical facts, constitute "forward-looking information"
within the meaning of the Securities Act (British Columbia),
Securities Act (Ontario) and the Securities Act (Alberta)
("Forward-Looking Information"). Forward-Looking Information is
often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "expect" and
"intend"; statements that an event or result is "due" on or "may",
"will", "should", "could", or might" occur or be achieved; and,
other similar expressions. More specifically, Forward-Looking
Information contained herein includes, without limitation,
information concerning future tailings production volumes and the
Company's copper and molybdenum production, all of which involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company, or industry results, to be materially different from any
future results, performance or achievements expressed or implied by
such Forward-Looking Information; including, without limitation,
material factors and assumptions relating to, and risks and
uncertainties associated with, the supply of tailings from El
Teniente and extraction of tailings from the Colihues tailings
impoundment, the achievement and maintenance of planned production
rates, the evolving legal and political policies of Chile, the
volatility in the Chilean economy, military unrest or terrorist
actions, metal price fluctuations, governmental relations, the
availability of financing for activities when required and on
acceptable terms, the estimation of mineral resources and reserves,
current and future environmental and regulatory requirements, the
availability and timely receipt of permits, approvals and licenses,
industrial or environmental accidents, equipment breakdowns,
availability of and competition for future mineral acquisition
opportunities, availability and cost of insurance, labour disputes,
land claims, the inherent uncertainty of production and cost
estimates, currency fluctuations, expectations and beliefs of
management and other risks and uncertainties, including those
described under Risk Factors in the Company's Annual Information
Form and in Management's Discussion and Analysis in the Company's
financial statements. Such Forward-Looking Information is based
upon the Company's assumptions regarding global and Chilean
economic, political and market conditions and the price of metals,
including copper and molybdenum, and future tailings production
volumes and the Company's copper and molybdenum production.
Among the factors that have a direct bearing on the Company's
future results of operations and financial conditions are changes
in project parameters as plans continue to be refined,
interruptions in the supply of fresh tailings from El Teniente,
further delays in the extraction of tailings from the Colihues
tailings impoundment, a change in government policies, competition,
currency fluctuations and restrictions and technological changes,
among other things. Should one or more of any of the aforementioned
risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from any conclusions, forecasts or projections described in the
Forward-Looking Information. Accordingly, readers are advised not
to place undue reliance on Forward-Looking Information. Except as
required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise
Forward-Looking Information, whether as a result of new
information, future events or otherwise
Contacts: Amerigo Resources Ltd. Dr. Klaus Zeitler President and
CEO (604) 218-7013 Amerigo Resources Ltd. (604) 697-6201
www.amerigoresources.com
Amerigo Resources (TSX:ARG)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Amerigo Resources (TSX:ARG)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024