Business
Amerigo - Production Update
Amerigo - Production Update.
About this update from Amerigo Resources Ltd
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, April 7 /CNW/ - Amerigo Resources Ltd. (TSX:ARG) (\"Amerigo\" or\nthe \"Company\") announced today that during Q1 2006 the Company produced a\ntotal of 6.75 million pounds of copper and 176,957 pounds of molybdenum, which\nis below budget year-to-date. A number of factors contributed to the lower\nproduction, including:\n\n- Longer than scheduled annual maintenance shutdown by El Teniente for a\n total of 12 days in January and March, due to repairs on El Teniente's\n tailings channel\n- A minor fire at the Company's plant, resulting in a two day shutdown\n in March\n- A number of partial and complete shutdowns of the Company's plant in\n the quarter, due to the integration of the plant expansion\n- As expected, lower recoveries on oxidized near surface dry material\n from Colihues, extracted using the newly commissioned monitoring\n system\n- First hydraulic monitor was only fully functional toward the end of Q1\n and plant expansion and integration was virtually complete by early\n April\n\nAs a result, the Company's operations in Q1 operated at close to 20%\nreduced capacity. Despite these short-term operational challenges and the\nplant shutdowns in March (which are not expected to recur), the production\ntrend was upward through the latter part of the quarter. Management expects\nthis trend to continue in Q2, and therefore does not believe at this time that\nproduction results for the full 2006 year will be materially different from\nexpectations.\n\nAmerigo is a Canadian copper and molybdenum producing company with\noperations near Santiago, Chile. Tel.: (604) 681-2802; Fax: (604) 682-2802;\nWeb: 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 a...