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Amerigo Resources Ltd T.ARG

Alternate Symbol(s):  ARREF

Amerigo Resources Ltd. is a Canada-based copper producer. The Company owns a 100% interest in Minera Valle Central S.A. (MVC), a producer of copper concentrates. MVC, located in Chile, has a long-term contract with the El Teniente Division (DET) of Corporacion Nacional del Cobre de Chile (Codelco) to process fresh and historic tailings from El Teniente. The Company operates in one segment, the production of copper concentrates under a tolling agreement with DET.


TSX:ARG - Post by User

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Post by CalifDreamingon Apr 14, 2008 4:09pm
292 Views
Post# 14969613

Lazy over paid buggers.

Lazy over paid buggers.

Look at what these schmoes are saying in the recently released AIF.  Talk about absentee "management" watching the details.  Once again, issue totally unreliable info.  Bunch of over paid incompetents - Zeitler and Dean have put Amerigo on remote control - but are busy bees on their other plays and as such, should see their options and salaries drastically reduced. They already get $450K/yr just from the sweetheart royalty deal they gave themselves.  Anyone have any confidence they'll get to 30,000 tpa by end of this year? 




"MVC plans to extract the tailings from the Colihues impoundment using hydraulic monitors (currently operated by Fraser Alexander), with the backup of a “submersible miner” and dredge pumps on a floating platform. At present the system extracts tailings at the rate of 13,000 tpd, and is projected to expand to a capacity of 45,000 tpd by the end of 2007.

The existing MVC process plant is well designed and maintained and is in good condition. In 2005, it produced 13,552 tonnes of copper in concentrate and 631,843 pounds of molybdenum in concentrate.

MVC estimates that with the present fresh tailings conditions, the projected extraction rate from the Colihues dam (45,000 tpd) and the expansion of the grinding and flotation plant facilities, production of fine copper in concentrates could be increased on an annualized basis to a total of 30,000 tonnes per annum by the end of 2007.

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