Business
Amerigo Announces 2022 Results & Quarterly Dividend
(NewsDirect) 2022 net income of $4.4 million, adjusted net income of $15.9 million ...
About this update from Amerigo Resources Ltd
[{"type":"text","content":"Amerigo Announces 2022 Results & Quarterly Dividend\n \n \n (NewsDirect)\n \n \n \n 2022 net income of\n$4.4 million, adjusted net income of $15.9 million\n \n \n \n \n Annual\nEBITDA\n \n \n \n 1\n \n \n \n of $48.7 million - $28.0 million\nreturned to shareholders in 2022\n \n \n \n \n Quarterly dividend of Cdn$0.03 per share\ndeclared, representing a 9.09% yield\n \n \n \n 2\n \n \n \n \n \n Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF)\n \n (“Amerigo” or the “Company”) is pleased to announce\nfinancial results for the year and three months(“Q4-2022”) ended\nDecember 31, 2022.\n \n Dollar amounts in this news release are in U.S.\ndollars unless indicated otherwise.\n \n \n \n Amerigo’s annual\nfinancial results included net income of $4.4 million, earnings per\nshare (“EPS”) of $0.03, EBITDA[1]of $48.7 million, and free cash\nflow to equity\n \n 1\n \n of $17.1 million. Excluding an $11.5\nmillion equipment write-down recorded during 2022, the annual adjusted\nnet income was $15.9 million. The write-down had no impact on the 2022\ncash flow.\n \n \n Amerigo returned $28.0 million to shareholders\nduring the year. Cash and restricted cash on December 31, 2022, was\n$42.0 million, compared to starting 2022 cash and restricted cash of\n$64.0 million.\n \n \n “We are pleased to report 2022 financial results.\nOur stable operations have now outperformed production guidance in\neach of the last three years, and Amerigo successfully weathered lower\ncopper prices to generate strong operating cash flow of $34.9 million\ndollars,” said Aurora Davidson, Amerigo’s President and CEO.\n“Last year, we returned $28.0 million to shareholders and reduced\nbank debt by $7.0 million. With copper prices rebounding at the end of\n2022, we look forward to a strong year during which we believe we can,\nfor the first time, deploy all the tools available in Amerigo’s\npowerful capital return strategy. We are off to an excellent start,\nhaving initiated share repurchases in January under our second annual\nNormal Course Issuer Bid share buyback program, and announcing today\nanother quarterly dividend,” she added.\n \n \n Q4-2022 financial\nresults included a net loss of $1.6 million, loss per share\n(“LPS”) of $0.01, EBITDA\n \n 1\...