Amerigo Resources has reported exceeding its production targets for the first quarter ended March 31, 2024, from its wholly owned Minera Valle Central operation in Rancagua, Chile. In this quarter, the company produced 16 million pounds of copper and 324,000 pounds of molybdenum, both surpassing their respective guidance figures. Furthermore, Amerigo achieved a normalized cash cost of $1.89 per pound of copper, which is 9% lower than the forecasted annual cash cost.
For Q1-2024, the company’s copper production, with 53% deriving from fresh tailings, highlights the efficiency of its operations, backed by a 97.7% plant availability. Amerigo has set its copper production guidance at 62.4 million pounds for 2024, with an anticipated maintenance shutdown in May expected to affect production figures slightly.
The company also reported a stable cash position and a decrease in outstanding bank debt, reinforcing its financial health. Moreover, Amerigo’s water reserves at MVC are reported to be sufficient for at least the next eighteen months, ensuring continued operational capacity. 
