Amerigo Resources Ltd. Announces Production Results from Minera Valle Central for the Fourth Quarter and Full Year 2016; Provides Production Guidance for the Year 2017
In fourth quarter of 2016, MVC produced 13.6 million pounds of copper at a cash cost of $1.87 per pound. Copper production was affected by a labour strike in October 2016 which resulted in 10 days of lost production, and 6 days of lost production at the end of December 2016, due to an early annual planned maintenance shutdown at El Teniente. Lower production negatively affected unit cash cost.
The company provided production guidance for the year 2017. In 2017, MVC expects to produce 60 to 65 million pounds of copper, at an annual cash cost of $1.60 to $1.75 per pound copper. MVC also expects to produce 1.5 million pounds of molybdenum.