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Amerigo Resources (ARG-T)
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QUOTE AND NEWS
Amerigo Resources has a lot going for it
The Globe and Mail  Sep 4  Comment 
A bullish pattern, decent volume, seasoned management, and an improved extraction process
Copper miner Amerigo Resources loses US$2.3 million in second quarter
CANOE.ca  Aug 6  Comment 
VANCOUVER, B.C. - Amerigo Resources Ltd. (TSX:ARG), a Vancouver-based copper miner that operates in Chile, reports a net loss of US$2.3 million for the second quarter on a sharp drop in revenues.
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Director
Otto Rock

Amerigo Resources (ARG.to) is a copper producer with a very different (and smart) business. It takes the tailings from Codelco's El Teniente copper mine and re-processes them, pays a royalty to Codelco for the pleasure and sells the resulting copper and moly. It has been a very successful model and is one of those small copper producers that is always on my radar. It's also smart enough as a company to be a minority shareholder in Candente (DNT.to).

ARG.to published these two press releases that made good reading for shareholders. Cutting away the blah blah, the important points were the production numbers of:

  • 7.08M lbs copper
  • 147,508lbs molybdenum
  • booked price of $3.80/lb Cu
  • Energy costs that were down U$4.9m compared to 1q08

Business and Financials

Image: Amerigostats.jpg

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