Amerigo

Amerigo Announces Q3-2023 Results & Quarterly Dividend

Retrieved on: 
Wednesday, November 1, 2023

VANCOUVER, British Columbia, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) announces financial results for the three months ended September 30, 2023 (“Q3-2023”). Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.

Key Points: 
  • Tolling and production costs were $32.4 million (Q3-2022: $34.4 million) due to lower copper production.
  • MVC’s molybdenum price increased to $23.31/lb (Q3-2022: $15.39/lb), resulting in a Q3-2023 molybdenum revenue of $4.6 million (Q3-2022: $3.5 million).
  • In Q3-2023, Amerigo returned $3.7 million to shareholders (Q3-2022: $3.8 million) through Amerigo’s quarterly dividend of Cdn$0.03 per share.
  • Dial 1-888-664-6392 (Toll-Free North America) and state they wish to participate in the Amerigo Resources Q3-2023 Earnings Call.

Amerigo’s MVC Resumes Normal Production

Retrieved on: 
Thursday, September 21, 2023

VANCOUVER, British Columbia, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) announced today that Minera Valle Central (“MVC”), the Company’s 100% owned operation located near Rancagua, Chile, has resumed normal production after completing the removal of more than 2.2 million cubic meters of water from the Cauquenes historical tailings deposit.

Key Points: 
  • To expedite the resumption of normal operations at Cauquenes, pumping equipment was diverted to remove water from Cauquenes rather than provide historic tailings to the concentrator.
  • This is 2.7 million pounds lower than the Company’s revised copper production guidance of 13.8 M lbs issued after MVC was impacted by flooding in the region in June 2023.
  • “After more than three years of exceeding production guidance, this is unquestionably an anomalous production period for Amerigo,” said Aurora Davidson, Amerigo’s President and CEO.
  • She added, “However, operations are now back to normal, and all members of the Amerigo and MVC teams are working at full capacity to exceed our Q4-2023 copper production guidance of 16.6 M lbs.

Amerigo Provides Q3-2023 Production Update

Retrieved on: 
Monday, September 11, 2023

VANCOUVER, British Columbia, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) announced today that production for the quarter ending September 30, 2023 (“Q3-2023”) from Minera Valle Central (“MVC”), the Company’s 100% owned operation located near Rancagua, Chile, is currently expected to be approximately 2.7 million pounds (“M lbs”) lower than the estimate set out in the Company’s revised plan because of ongoing historic levels of rainfall in Chile.

Key Points: 
  • While the extensive repairs required to reconnect to the power grid were underway, MVC successfully produced 90,000 lbs of copper per day from July 6 to July 21, mitigating the negative production impact from the flooding.
  • On July 22, 2023, MVC resumed normal operations processing fresh and historic Cauquenes tailings.
  • While we cannot have final or definite clarity on the effect of the rains on our current quarter’s production, we have estimated a decrease of 2.7 million pounds of copper.
  • We are evaluating all options to increase production in Q4-2023 to mitigate this impact and will provide an update in due course.

Amerigo Announces Q2-2023 Results & Quarterly Dividend

Retrieved on: 
Wednesday, August 2, 2023

VANCOUVER, British Columbia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) announces financial results for the three months ended June 30, 2023 (“Q2-2023”). Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.

Key Points: 
  • MVC’s molybdenum price increased to $20.76/lb (Q2-2022: $17.58/lb), resulting in a Q2-2023 molybdenum revenue of $2.9 million (Q2-2022: $2.2 million).
  • The Company used operating cash flow before changes in non-cash working capital1 of $2.3 million in Q2-2023 (Q2-2022: $4.0 million).
  • Quarterly net operating cash flow was $0.5 million (Q2-2022: $0.5 million).
  • Dial 1-888-664-6392 (Toll-Free North America) and state they wish to participate in the Amerigo Resources Q2-2023 Earnings Call.

Amerigo Resumes Full Production at MVC

Retrieved on: 
Tuesday, July 25, 2023

Vancouver, British Columbia, July 25, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to announce that Minera Valle Central (“MVC”), the Company’s 100% owned operation located near Rancagua, Chile has resumed normal operations. The MVC plant was reconnected to Chile’s central power grid on July 21, 2023, enabling MVC to resume normal operations processing fresh and historic Cauquenes tailings on July 22, 2023.

Key Points: 
  • The MVC plant was reconnected to Chile’s central power grid on July 21, 2023, enabling MVC to resume normal operations processing fresh and historic Cauquenes tailings on July 22, 2023.
  • As reported in the Company’s news release of July 12, 2023, Amerigo reduced its annual production guidance by 3% to 60.5 million pounds of copper due to the lost production from the flooding.
  • This revised copper production guidance remains in place, and Amerigo’s original guidance of 1.0 M lbs of molybdenum remains unchanged.
  • MVC lost its connection to the central power grid on June 23, 2023, when three high-voltage power towers owned by MVC collapsed following severe flooding from heavy rains in central Chile.

Amerigo Announces MVC Repairs Underway

Retrieved on: 
Friday, June 30, 2023

VANCOUVER, British Columbia, June 30, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to provide an update regarding operations at Minera Valle Central (“MVC”), the Company’s 100% owned operation located near Rancagua, Chile. MVC’s operations were temporarily disrupted on June 23, 2023, following a significant climatic event which affected central Chile. Repairs are underway and are expected to be completed earlier than originally estimated.

Key Points: 
  • Repairs are underway and are expected to be completed earlier than originally estimated.
  • MVC reported no further damage to critical infrastructure, no injuries, and no accidents.
  • MVC received an initial estimate that replacing the infrastructure to reconnect MVC to the power grid could take up to four weeks.
  • She added, “Amerigo is well positioned to face this emergency, backed by our proactive risk mitigation investments and a strong balance sheet.

Amerigo Provides Update on MVC Operations

Retrieved on: 
Monday, June 26, 2023

VANCOUVER, British Columbia, June 26, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) announced today that operations at Minera Valle Central (“MVC”), the Company’s 100% owned operation located near Rancagua, Chile, have been temporarily disrupted following a significant climatic event affecting central Chile.

Key Points: 
  • VANCOUVER, British Columbia, June 26, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) announced today that operations at Minera Valle Central (“MVC”), the Company’s 100% owned operation located near Rancagua, Chile, have been temporarily disrupted following a significant climatic event affecting central Chile.
  • On the night of Friday, June 23, 2023, the heavy rain and rising water levels in the Cachapoal River brought down three high-voltage MVC towers, causing a total power outage at the MVC plant.
  • No personnel injuries or accidents occurred, and Amerigo reports no further damage to MVC’s equipment or infrastructure and no adverse environmental impact.
  • MVC management is preparing a plan to resume operations while the power towers are restored.

Amerigo Announces Q1-2023 Results & Quarterly Dividend

Retrieved on: 
Wednesday, May 3, 2023

VANCOUVER, British Columbia, May 03, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to announce financial results for the three months ended March 31, 2023 (“Q1-2023”).

Key Points: 
  • MVC’s molybdenum price increased to $31.73/lb (Q1-2022: $18.33/lb), resulting in a Q1-2023 molybdenum revenue of $8.0 million (Q1-2022: $3.4 million).
  • The Company generated operating cash flow before changes in non-cash working capital1 of $13.2 million in Q1-2023 (Q1-2022: $20.6 million).
  • Quarterly net operating cash flow was $18.2 million (Q1-2022: $23.5 million).
  • During Q1-2023, Amerigo returned $5.5 million to shareholders (Q1-2022: $7.6 million), including $3.6 million through Amerigo’s regular quarterly dividend of Cdn$0.03 per share, and $1.9 million used to purchase for cancellation 1.6 million common shares (Q1-2022: $3.4 million used to repurchase 2.4 million common shares).

Amerigo Publishes ESG Scorecard

Retrieved on: 
Tuesday, March 14, 2023

VANCOUVER, British Columbia, March 14, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to announce the release of its first ESG (Environmental, Social and Governance) scorecard, spanning the years from 2019 to 2022. The scorecard is available on Amerigo’s new website, www.amerigoresources.com, launched today1.

Key Points: 
  • ESG credentials include low water use, renewably sourced power, and excellent workplace safety
    VANCOUVER, British Columbia, March 14, 2023 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to announce the release of its first ESG (Environmental, Social and Governance) scorecard, spanning the years from 2019 to 2022.
  • “We are very proud of the results of our first ESG scorecard.
  • This scorecard clearly shows that Amerigo already has sustainability credentials that most companies aspire to attain,” said Aurora Davidson, Amerigo’s President and CEO.
  • During the years covered in the ESG scorecard, there were no community disputes, only one reportable environmental incident, and no confirmed incidents of corruption.

EQS-News: Amerigo Announces Renewal of Normal Course Issuer Bid

Retrieved on: 
Wednesday, November 30, 2022

This would represent a cumulative reduction of 28.95 million shares (17.43% of current outstanding) over a two-year period.

Key Points: 
  • This would represent a cumulative reduction of 28.95 million shares (17.43% of current outstanding) over a two-year period.
  • These share buyback programs, in combination with our quarterly dividend yielding 9.6%1, confirms Amerigos shareholder capital return commitment.
  • The actual number of common shares purchased pursuant to the NCIB, and the timing of such purchases will be determined by Amerigo.
  • Many of these risks and uncertainties apply not only to Amerigo and its operations, but also to Codelco and its operations.