08:28 AM EDT, 10/08/2024 (MT Newswires) -- Amerigo Resources ( ARREF ) on Tuesday said it is on track to top its 2024 production guidance after third-quarter copper output from its Minera Valle Central (MVC) mine in Chile rose 46%.

The company said output from the mine totaled 16.27-million pounds of copper in the quarter, up from 11.12-million pounds in the year-prior period, while molybdenum output of 0.33-million pounds was up 50% from 0.22-million pounds.

Amerigo said cumulative production for the year stands at 46.2-millon pounds of copper and 1.0-million pounds of molybdenum, trending ahead of its 2024 production guidance of 62.4-million pounds of copper and 1.2-million pounds of molybdenum.

"The Company's quarterly cash cost of $1.93 per pound was again lower than expected, and Amerigo's quarterly copper price in the third quarter was $4.22 per pound. This combination of excellent operational performance, controlled costs and high copper prices translates into robust financial performance," Chief Executive Aurora Davidson said in a release.

Amerigo shares closed down $0.01 to $1.78 Monday on the Toronto Stock Exchange.