Business
Amerigo sells strategic stake in Chariot Resources Limited for $24.1 million, representing a gain of $9.68 million
Amerigo sells strategic stake in Chariot Resources Limited for $24.1 million, representing a gain of $9.68 million.
About this update from Amerigo Resources Ltd
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Oct. 5 /CNW/ - Amerigo Resources Ltd. (TSX:ARG) (\"Amerigo\")\nannounces that it has entered into an agreement to sell a total of 31,812,500\ncommon shares and 11,532,000 share purchase warrants of Chariot Resources\nLimited (\"Chariot\") to Rio Narcea Gold Mines Ltd. for $0.65 per common share\nand $0.30 per share purchase warrant. Total proceeds of the sale are\n$24,137,725, which represents a gain to Amerigo of $ 9,679,857 and a return of\napproximately 68% over the seven month period since acquisition.\nClosing is scheduled to occur on or before October 20, 2006.\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\nhas been prepared by management. Statements contained in this news\nrelease that are not historical facts are forward-looking statements\nwithin the meaning of the Private Securities Litigation Reform Act of\n1995. Such forward-looking statements are subject to risks and\nuncertainties which could cause actual results to differ materially from\nestimated results. Such risks and uncertainties are detailed in the\nCompany's filings with the TSX and on SEDAR. Forward-looking statements\nare based on the beliefs, estimates and opinions of the Company's\nmanagement on the date the statements are made. The Company undertakes no\nobligation to update these forward-looking statements if management's\nbeliefs, estimates or opinions, or other factors, should change.\n\n\n\n","length":1782,"tagName":"div"}]