Amerigo Resources Ltd

Published : July 17th, 2015

Amerigo Announces Q2-2015 Production Results

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Amerigo Announces Q2-2015 Production Results

October 12, 2005

July 17, 2015

N.R. 2015-7

Amerigo Announces Q2-2015 Production Results

VANCOUVER, BRITISH COLUMBIA - July 17, 2015/CNW/ - Amerigo Resources Ltd. (TSX: ARG, "Amerigo" or the "Company") announced today production results for the second quarter of 2015 from Minera Valle Central ("MVC"), the Company's operations located near Rancagua, Chile. MVC produced 9.118 million pounds of copper, including copper produced pursuant to MVC's tolling contract with Minera Maricunga. MVC did not produce molybdenum during the quarter due to the continuing low molybdenum market price. All dollar amounts referred to in this release are in US dollars.

Rob Henderson, Amerigo's President and COO, stated "Although MVC's Q2 copper production was higher than that of Q1, fresh tailings tonnage remained low and poor quality material from the Colihues tailings deposit continued to adversely affect economic performance. The decision has been made to suspend production from Colihues effective July 20, 2015 due to ongoing low copper prices. Operational efforts will be focussed on the development of the Cauquenes tailings deposit, which is on budget and on target to commence production in Q4 of this year. Contribution from Minera Maricunga was down for the quarter following damage caused by flooding in Chile's northern Atacama region. Operation of MVC's molybdenum plant remains suspended. MVC's 2015 copper production guidance is being revised to 43 to 48 million pounds at an annual cash cost of $1.95 to $2.15/lb Cu."

Dr. Klaus Zeitler, Amerigo's Chairman and CEO, added "We are concentrating our efforts to bring the better quality Cauquenes tailings into production as soon as possible, and even with the present low copper prices we should see significantly better production and economic results starting in Q4 this year."

Key operating and sales metrics are set out below.

Production Metrics:

Q2-2015

Q1-2015

Q4-2014

Q3-2014

Q2-2014

Copper Production

(million lbs)

9.118

8.865

11.352

10.156

9.344

Molybdenum Production

(million lbs)

-

0.098

0.160

0.143

0.152

Ore milled (Tonnes 000's)

15,194

13,312

15,995

15,372

14,091

Copper Grade (%)

0.136

0.149

0.140

0.134

0.131

Copper Recovery (%)

19.4

18.5

21.6

21.4

21.8

Power Costs (per kwh)

$0.091

$0.086

$0.098

$0.089

$0.090

Sales Metrics:

Q2-2015

Q1-2015

Q4-2014

Q3-2014

Q2-2014

Copper Sales1

(Million lbs)

9.395

8.829

11.216

10.321

9.322

Company's Recorded

Copper Price ($US/lb)2

2.65

2.68

3.01

3.06

3.16

Molybdenum Sales (million lbs)

-

0.109

0.159

0.148

0.154

Company's Recorded

Molybdenum Price ($US/lb)

-

8.41

9.21

12.63

13.33

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 Q2-2015 financial results at market open on Wednesday, August 12,

2015 and will hold an investor conference call to discuss the results on Thursday, August 13,

2015 at 11:00 am Pacific Standard Time/2:00 pm Eastern Standard 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

For further information, please contact:

Dr. Klaus Zeitler, Chairman & CEO (604) 218-7013

Amerigo Resources Ltd. (604) 697-6201

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 "expects", "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 the agreement for the purchase by MVC of the processing rights for the Cauquenes tailings deposit, extending the contract for the processing of Fresh Tailings to 2037 and consolidating all contracts between MVC and DET (the "Master Agreement"), completion of construction of the planned expansion of MVC's operations required for the processing of old tailings from the historic Cauquenes tailings deposit (the "Cauquenes Expansion"), 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 performance of the Master Agreement, the receipt of adequate debt financing required for the Cauquenes Expansion, the receipt of environmental approval to the Cauquenes expansion, the continued supply of tailings from El Teniente and successful extraction of tailings from the Cauquenes and Colihues tailings deposits, 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 and Cauquenes tailings deposits, 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.

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Chile | All
Gold and Silver Prices for these countries : Chile | All

Amerigo Resources Ltd

PRODUCER
CODE : ARG.TO
ISIN : CA03074G1090
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Amerigo Res. is a copper and molybdenum producing company based in Canada.

Its main asset in production is MINERA VALLE CENTRAL in Chile.

Amerigo Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 282.5 millions as of today (US$ 225.8 millions, € 197.8 millions).

Its stock quote reached its lowest recent point on February 21, 2003 at CA$ 0.08, and its highest recent level on April 27, 2007 at CA$ 2.77.

Amerigo Res. has 175 440 000 shares outstanding.

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Financings of Amerigo Resources Ltd
3/26/2015Closes Bank Financing for Cauquenes Expansion
3/19/2015Secures Cauquenes Bank Financing Without Dilution to Shareho...
2/14/2009Closing of Private Placement
2/7/2009Non-brokered Private Placement
8/28/2008Acquisition of Common Shares and Warrants of Los Andes Coppe...
Nominations of Amerigo Resources Ltd
6/5/2012Pleased to Announce New Appointments
Financials of Amerigo Resources Ltd
8/6/2013Announces Q2-2013 Financial Results
5/9/2013Announces Q1-2013 Financial Results
11/8/2012Announces Q3-2012 Financial Results
8/3/2012Announces Q2-2012 Financial Results
5/7/2012Announces Q1-2012 Financial Results
3/5/2012Announces 2011 Financial Results
8/11/2011Announces Q2-2011 Financial Results
6/14/2011Announces Q1-2011 Financial Results
7/28/2008Q2-2008 Financial Results
Project news of Amerigo Resources Ltd
10/15/2013Announces Q3-2013 Production Results
7/12/2013Announces Q2-2013 Copper Production Results
7/12/2013Announces Q2-2013 Copper Production Results
4/15/2013Announces Q1-2013 Copper Production Results
1/16/2013Q4-2012 and Full Year Production Results Exceed Guidance
7/17/2012Announces Q2-2012 Production Results
4/18/2012Announces Record Q1-2012 Copper Production Results
1/27/2012Announces Q4 2011 Production Results and Provides 2012 Produ...
7/21/2011Announces Q2 2011 Production Results
6/7/2011Provides Production Update
5/5/2011Announces Record Q1 2011 Production Results
1/30/2009 Q4 2008 Production Results
7/15/2008Announces Q2 2008 Production Results Copper Production 7.08M...
4/21/2008Announces Q1 2008 Production Results
Corporate news of Amerigo Resources Ltd
5/3/2016Amerigo Announces Results of AGM
4/14/2016Amerigo Announces 2016 First Quarter Production Results
11/4/2015Amerigo Announces Q3-2015 Financial Results
10/20/2015Amerigo Announces Q3-2015 Production Results
9/29/2015Amerigo Announces Management and Board Changes
9/24/2015Amerigo Announces Successful Start-up of Phase 1 of Cauquene...
8/12/2015Amerigo Announces Q2-2015 Financial Results
7/22/2015Amerigo Announces Results of AGM
7/17/2015Amerigo Announces Q2-2015 Production Results
4/17/2015Amerigo Announces Q1-2015 Production Results
4/13/2015Amerigo Announces Appointment of Alberto Salas as President ...
3/19/2015Amerigo Secures Cauquenes Bank Financing Without Dilution to...
2/23/2015Amerigo Announces 2014 Financial Results
2/5/2015Amerigo Announces Q4-2014 and Full Year Production Results
11/6/2014Amerigo Announces Q3-2014 Financial Results
10/16/2014Amerigo Announces Q3-2014 Production Results
8/7/2014Amerigo Announces Q2-2014 Financial Results
7/18/2014Amerigo Announces Q2-2014 Production Results
7/14/2014Amerigo Announces Receipt of Environmental Approval for Cauq...
5/8/2014Amerigo Announces Q1-2014 Financial Results
4/24/2014Amerigo Announces Filing of NI 43-101 Technical Report
4/22/2014Amerigo and Codelco/El Teniente Sign Agreement Extending Tai...
10/30/2013Executes Mandate Agreement With BBVA to Arrange Project Debt...
9/30/2013Announces Management Changes
7/22/2013Announces Cauquenes Approval and Contract Extension to 2037
1/24/2013Announces 2013 Operations and Capital Guidance
10/16/2012Reports Strong Q3-2012 Production Results: Year to Date Copp...
5/26/2011Announces Dates for Release of Q1 2011 Results and Investor ...
3/28/2011Declares Semi-Annual Dividend
3/1/2010Update on Chilean Earthquake
12/29/2008New Debt Facilities and Cost Reductions
12/16/2008Announces Shareholder Rights Plan
11/7/2008Cash flow from operations of US$7.6M in Q3-2008
7/15/2008on Amerigo Q2 Power Costs
7/7/2008Announces Release of Q2 2008 Results
5/7/2008Q1 08 Results
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