Amerigo Reports Q2-2025 Operational Results
Q2-2025 copper production of 15.5 million pounds
2025 production and cash cost1 guidance remain in place
$7.6 million returned through Share Buybacks and Dividends in Q2-2025
VANCOUVER, British Columbia, July 09, 2025 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX:ARG, OTCQX:ARREF) ("Amerigo" or the "Company") is pleased to announce operational results for the quarter ended June 30, 2025 ("Q2-2025") from Minera Valle Central ("MVC"), the Company's 100% owned operation located near Rancagua, Chile. Dollar amounts in this news release are in U.S. dollars ("USD") unless indicated otherwise.
"Operational results during the second quarter of the year were slightly better than expected, as inclement weather production interference at MVC was lower than allowed for in our guidance. MVC produced 15.52 million pounds of copper and 0.39 million pounds of molybdenum during Q2-2025. Having reached the half-year mark for 2025, our production and cash cost guidance remains on track," said Aurora Davidson, Amerigo's President and CEO.
Copper prices continued to climb throughout the quarter, exhibiting solid increases from the $4.17 LME average copper price in April 2025. The positive momentum in copper pricing has remained in place through early July 2025. These rising copper prices have enabled Amerigo to execute its strategy of eliminating minimal debt by year-end 2025, while continuing to fully deploy its Capital Return Strategy.
"Amerigo's Capital Return Strategy includes quarterly dividends, performance dividends, and share buybacks. During the second quarter, Amerigo returned $7.6 million to shareholders, bringing the total capital returned during the first half of the year to $12.1 million," Ms. Davidson added.
In Q2-2025, MVC produced 15.5 million pounds ("M lbs") of copper and 0.39 M lbs of molybdenum. During the quarter, MVC's plant availability was 99.0%, and there were no lost-time accidents involving MVC employees.
Copper production for the first half of 2025 ("H1-2025") was 28.8 M lbs, representing 46% of Amerigo's 2025 copper production guidance of 62.9 M lbs. H1-2025 molybdenum production of 0.62 M lbs is also in line with Amerigo's annual molybdenum production guidance of 1.3 M lbs. Amerigo performed its yearly maintenance shutdown during Q1-2025, and the associated production impact is factored into the 2025 guidance.
Amerigo's cash cost1 in Q2-2025 was $1.82 per pound ("/lb"), and H1-2025 cash cost1 was $2.00/lb. Based on the operational and cost projections for the remainder of 2025, Amerigo's annual cash cost guidance of $1.93/lb (excluding MVC's collective agreement signing bonuses) remains valid.
Amerigo's average provisional copper price in Q2-2025 was $4.42/lb, which was also the Company's average provisional copper price in Q1-2025. Q1-2025 copper deliveries were marked to market on March 31, 2025, at $4.42/lb and settled at the LME average monthly prices for April 2025 ($4.17/lb), May 2025 ($4.32/lb), and June 2025 ($4.46/lb).
The Company's average molybdenum price was $20.44/lb, up from $20.14/lb in Q1-2025.
In Q2-2025, Amerigo returned $7.6 million to shareholders, $4.0 million through share buybacks and $3.5 million through the quarterly dividend. H1-2025 capital returned to shareholders totals $12.1 million ($7.0 million in quarterly dividends and $5.1 million in share buybacks).
On June 30, 2025, Amerigo's cash position was $23.3 million ($12.6 million lower than December 31, 2024), and restricted cash was $0.9 million ($3.5 million lower than December 31, 2024). Outstanding bank debt was $7.5 million ($4.0 million lower than December 31, 2024).
Q2-2025
Q1-2025
Q4-2024
Q3-2024
Q2-2024
Fresh tailings
Tonnes per day
129,387
131,015
134,545
129,339
111,636
Operating days
90
77
91
92
82
Million tonnes processed
11.67
10.15
12.28
11.90
9.25
Copper grade
0.161%
0.165%
0.182%
0.184%
0.184%
Copper recovery
21.7%
21.5%
25.9%
23.6%
23.6%
Copper produced (M lbs)
9.01
7.97