Business
Amerigo Announces Renewal of Share Repurchase Program
Amerigo Announces Renewal of Share Repurchase Program.
About this update from Amerigo Resources Ltd
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Nov. 10 /CNW/ - Amerigo Resources Ltd. (\"Amerigo\", TSX:ARG)\nannounced today its intention to renew its normal course issuer bid through\nthe facilities of the Toronto Stock Exchange. Under this issuer bid, Amerigo's\nboard of directors has authorized the acquisition of 2,612,815 of Amerigo's\ncommon shares during the one year period commencing on November 14, 2006 and\nending on November 13, 2007.\nAs of November 10, 2006 Amerigo had 93,969,744 common shares issued and\noutstanding. The shares that may be repurchased under this issuer bid\nrepresent 3% of Amerigo's public float, which is estimated to be 87,093,841\ncommon shares.\nThe actual number of shares that may be purchased during the one year\nperiod and the time of such purchases will be determined by Amerigo. All\nshares purchased under the issuer bid will be cancelled. During the 12 month\nperiod prior to the date of this press release, Amerigo purchased 186,100 of\nits common shares pursuant to the Normal Course Issuer Bid in place during the\nperiod from November 14, 2005 to November 13, 2006.\nAmerigo is undertaking this issuer bid as it believes that the current\nmarket price of its common shares does not reflect the underlying value of\nAmerigo.\n\nAmerigo Resources Ltd. is a Canadian junior company producing copper and\nmolybdenum from its MVC operations near Santiago, Chile. Tel: (604) 681-2802;\nFax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX\n\nThe Toronto Stock Exchange has not reviewed nor accepted responsibility\nfor the adequacy or accuracy of the contents of this news release, which has\nbeen prepared by management. Statements contained in this news release that\nare not historical facts are forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995. Such forward-looking\nstatements are subject to risks and uncertainties which could cause actual\nresults to differ materially from estimated results. Such risks and\nuncertainties are detailed in the Company's filings with the TSX and on SEDAR.\nForward-looking statements are based on the beliefs, estimates and opinions of\nthe Company's management on the date the statements are made. The Company\nundertakes no obligation to update these forward-looking statements if\nmanagement's beliefs, estimates or opinions, or other...