08:55 AM EDT, 06/26/2024 (MT Newswires) -- Amerigo Resources ( ARREF ) said on Wednesday that its full-year 2024 production guidance remained unchanged despite the impact of heavy rains at its Minera Valle Central (MVC) operation in Chile.

The company said disruption caused by heavy rainfall from June 13 to June 23 resulted in a production loss of 1.0 million pounds of copper.

But Amerigo said its 2024 production target of 62.4 million pounds of copper and 1.2 million pounds of molybdenum remained intact as actual production outperformed guidance before the rains.

Amerigo said it continues to remove water from the Cauquenes historical tailings deposit, and processing is expected to resume June 30.

"MVC continues to showcase their ability to anticipate operational disruptions and safely deploy the appropriate response plans," President and CEO Aurora Davidson said.

The company noted that no further heavy rain is currently forecast in the region where MVC operates.

America's share price fell 4.3% yesterday to $1.55.