Business
Amerigo Resources Ltd. - MVC Colihues Extraction
Amerigo Resources Ltd. - MVC Colihues Extraction.
About this update from Amerigo Resources Ltd
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, May 26 /CNW/ - Amerigo Resources Ltd. (TSX:ARG) (\"Amerigo\" or\nthe \"Company\") announced today that it was informed by El Teniente that the\nstructural condition of a portion of its tailings launder from the Company's\nplant to El Teniente's Caren tailings impoundment requires it to limit the\nquantity of tailings flow, and has asked the Company to temporarily stop\nprocessing tailings from Colihues. Processing of fresh tailings is not\naffected and continues at regular rates.\nThe Company is in the process of building a separate pipeline system that\nwill allow tailings from Colihues to be processed at the Company's plant and\nthen recycled back into Colihues. This system is projected to be in operation\non or before the end of June of this year, and will initially allow the\nCompany to process Colihues tailings at a rate of 10,000 tpd. The Company is\nsimultaneously investigating the possibility of expanding the capacity of the\nnew system to accommodate the planned increase in extraction capability to the\nCompany's hydraulic monitoring and underwater submersible systems, scheduled\nto take place during the remainder of the year.\nManagement does not anticipate that this situation will have a material\neffect on the Company's operations and continues to believe that production in\n2006 will surpass prior years' production levels. The Company remains\ncommitted to attain its goals of annualized rates of copper production of \n60 million pounds and molybdenum production of 1 million pounds by the end of\n2007.\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 forwarding-looking statements within the meaning\nof the 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.\n...