The company said it continues to expect 2018 production of 65 – 70 million pounds of copper.
Amerigo Resources (TSX:ARG) has released its financial results for the third quarter of 2018, reporting that results continue to be in line with the company’s 2018 production and cost guidance.
The company said it continues to expect 2018 production of 65 – 70 million pounds of copper at a cash cost of US$1.45 to US$1.60/lb and molybdenum production guidance has been increased to 1.8 million pounds.
President and CEO of Amerigo, Rob Henderson said:
“In Q3-2018, Amerigo achieved record production of 17.6 million pounds of copper as the MVC phase two expansion began to improve recovery efficiency as planned. As we ramped up production, cash cost came down to US$1.38/lb from US$1.71/lb in the preceding quarter. These results allowed us to generate US$6.2 million in operating cash flow, despite lower copper prices. We look forward to achieving commercial production of the phase two project in Q4-2018.”