Amerigo Resources Ltd. reported production results of Minera Valle Central for the third quarter and nine months ended September 30, 2023. In Q3-2023, MVC produced 11.1 million pounds (?M lbs?) of copper, with 74% of production coming from fresh tailings. Amerigo?s total 2023 copper production is expected to exceed the revised annual guidance of 57.8 M lbs announced to the market on September 11, 2023.

This revised annual guidance incorporated the severe rains' impact on MVC?s Q2-2023 and Q3-2023 copper production. Q3-2023 molybdenum production was 0.2 M lbs. YTD molybdenum production of 0.8 M lbs is 3% over guidance.

Amerigo?s annual molybdenum production guidance has been revised upwards from 1.0 M lbs to 1.1 M lbs. Amerigo?s cash cost in Q3-2023 was $2.44 per pound (?/lb?), primarily due to temporarily reduced production levels. Amerigo?s quarterly copper price in Q3-2023 was $3.76/lb, compared to $3.80/lb in Q2-2023, and the Company?s molybdenum price was $23.31/lb, up from $20.76/lb in Q2-2023.

On September 30, 2023, Amerigo?s cash position was $13.1 million (a decrease of $24.7 million from December 31, 2022), and restricted cash was $6.3 million (an increase of $2.1 million from December 31, 2022). Outstanding bank debt was $21.0 million, compared to $24.5 million on December 31, 2022.