Amerigo Reports Q3-2025 Operational Results

Executive Summary

• Amerigo Resources reported Q3‑2025 copper production of 14.6 M lbs and molybdenum production of 0.35 M lbs, with plant availability at 98.3% and cash cost of $1.80/lb.
• The company now expects full‑year 2025 copper output of 60–61.5 M lbs, 2‑5% below its original guidance, while maintaining cash‑cost guidance of $1.93/lb.
• Amerigo returned $3.5 M to shareholders via a quarterly dividend and remains on track to eliminate all debt by year‑end 2025.

Key Details

• Production Impact: Lower fresh tailings throughput after the El Teniente mine accident reduced August output; September production aligned with budget.
• Quarterly Production:
• Copper: 14.6 M lbs (Q3‑2025)
• Molybdenum: 0.35 M lbs (Q3‑2025)
• Year‑to‑Date (YTD) Production (as of Sep 30, 2025):
• Copper: 43.3 M lbs (69% of annual guidance)
• Molybdenum: 0.97 M lbs (75% of annual guidance)
• Cash Cost: $1.80/lb in Q3‑2025; YTD cash cost $1.93/lb, consistent with guidance (excludes collective‑agreement signing bonuses).
• Tailings Processing Metrics (Q3‑2025):
• Fresh tailings: 92,607 t/d for 82 days → 7.81 M t processed; copper grade 0.180%; recovery 22.2% → 6.78 M lbs Cu.
• Historic tailings: 50,883 t/d for 89 days → 4.51 M t processed; copper grade 0.252%; recovery 30.9% → 7.77 M lbs Cu.
• Copper Pricing: Average provisional price $4.54/lb in Q3‑2025 (up from $4.42/lb in Q2‑2025). LME spot prices rose to $4.70/lb in early October.
• Molybdenum Pricing: Average price $24.11/lb in Q3‑2025, up from $20.44/lb in Q2‑2025.
• Dividend & Share Buybacks: $3.5 M returned via quarterly dividend in Q3‑2025; YTD capital return $15.6 M (including $5.1 M buybacks).
• Liquidity & Debt Position (as of Sep 30, 2025):
• Cash: $28.0 M (down $7.9 M YoY)
• Restricted cash: $3.1 M (down $1.3 M YoY)
• Outstanding bank debt: $7.5 M (down $4.0 M YoY).
• Future Outlook: Company expects to be debt‑free by year‑end 2025 and will release full Q3‑2025 financial results on Oct 29, 2025, with an investor call on Oct 30, 2025.

Notable Quotes

“Utilizing the tremendous flexibility of MVC’s processing plant… our team has done an exceptional job increasing the processing of historic tailings and adjusting plant performance to minimize the continued impact from lower fresh tailings throughput.” – Aurora Davidson, President & CEO
“The August production shortfall will likely prevent Amerigo from meeting its original annual production guidance… we currently expect to produce between 60 and 61.5 M lbs of copper in 2025.” – Aurora Davidson, President & CEO