11:30 AM - 1:00 PM
The Union League of Philadelphia
Innovative, Long Term Copper Producer in Chile Dividend: $.02, EPS: $.09 Amerigo’s 100% owned MVC operation in Chile has been producing copper concentrates since 1992 by processing fresh and historic tailings from Codelco’s El Teniente mine, the world’s largest underground copper mine. Amerigo completed the first phase of development of the higher grade Cauquenes historic tailings deposit in December 2015 and extended MVC’s life to at least 2037. The second phase of the expansion will improve flotation recovery efficiency and enable MVC to reach an estimated annual production of 85 to 90 million pounds of copper, at an estimated cash cost of $1.45 to $1.60 per pound. Wood Mackenzie, a leading expert in copper markets, forecasts improving copper prices and a long term copper price in the region of $3.50 per pound.