Amerigo’s Moly Production Up 19 Percent from Q1 2012

Amerigo Resources Ltd. (TSX:ARG) released its results for the first quarter of 2013, noting that it produced 258,301 pounds of molybdenum, a 19-percent increase compared to the year-ago quarter. Its copper production fell by 8 percent, to 12.8 million pounds.

As quoted in the press release:

• Revenue was $43.2 million, compared to $50.5 million in Q1-2012. Revenues decreased 15% due to lower copper and molybdenum sales volume and lower average metal prices. 
• Cost of sales was $38 million, compared to $47.4 million in Q1-2012, a decrease of 20% driven by lower production levels and substantially reduced power costs mainly as a result of the change in the Company’s power contract from a variable to a lower fixed rate.
• Gross profit was $5.1 million, compared to $3.1 million in Q1-2012.
• Net profit was $3.2 million, compared to $2.3 million in Q1-2012.

Click here to read the full Amerigo Resources Ltd. (TSX:ARG) press release.