Amerigo Resources (ARG) investor relations material

Executive summary

• Q2 2026 was the strongest financial quarter on record, with net income rising to $18.3 million from $7.5 million in Q2 2025, driven by solid operations, disciplined cost control, and record copper prices.

• EBITDA reached $38.4 million and free cash flow was $21.9 million for the quarter.

• Operations normalized after Q1 maintenance, with reliable plant performance and stable production.

• $41.7 million was returned to shareholders year-to-date through dividends and share buybacks, with a focus on maximizing shareholder value.

• The company’s business model emphasizes stability, cash generation, and direct capital returns to shareholders, with no major construction or high leverage.

Financial highlights

• Revenue for Q2 2026 was $77.4 million, up from $50.8 million in Q2 2025, with $66.3 million from copper and $11.1 million from molybdenum.

• Copper production reached 16.9 million pounds, up 9% year-over-year.

• Gross profit grew to $32.2 million from $12.1 million year-over-year.

• Operating cash flow before working capital changes was $26.7 million, up from $11.9 million in Q2 2025.

• Free cash flow was $21.9 million, compared to $10.5 million in the prior year quarter.

Outlook and guidance

• Annual production guidance remains at 63.8 million pounds of copper and 1.5 million pounds of molybdenum.

• Cash cost guidance for the year is unchanged at $1.98 per pound, with YTD normalized cash cost at $1.70 per pound.

• CapEx guidance increased to $19.1 million from $17.5 million due to earlier construction of a new sump.

• Long-term outlook for copper remains constructive, supported by electrification and renewable energy trends.

• Priorities for the remainder of 2026 include safe operations, disciplined cost management, and maintaining a debt-free balance sheet.