VANCOUVER, Aug. 30 /CNW/ - Amerigo Resources Ltd. (TSX:ARG) ("Amerigo" or
the "Company") announced today that, further to the Company's May 26, 2006
press release, El Teniente has advised the Company that it will be necessary
to restrict the tailings flow between the Company's operations and El
Teniente's Caren tailings impoundment for a period of approximately four
months. El Teniente has requested this volume reduction because of
environmental concerns, both with respect to the volume of water in the
tailings being sent to Caren and the structural condition of the bridge that
forms part of the tailings launder downstream from the Company's plant.
In the course of reviewing the condition of the tailings launder last
week, El Teniente diverted the fresh tailings flow away from the Company's
plant for a period of seven days.
This volume reduction will have a negative effect on the Company's 2006
copper and molybdenum production. The Company estimates that third quarter
production will be approximately 20% less than last quarter. The Company is
studying alternatives to minimize production shortfalls and maximize financial
results.
Amerigo will hold an investor conference call to discuss these latest
developments on Thursday, August 31, 2006 at 10:00 am Pacific Daylight
Time/1:00 pm Eastern Daylight Time.
To participate in the call, please dial the following numbers:
604-678-9375 (Vancouver)
1-866-696-5895 (Toll-Free North America)
Please let the operator know you wish to participate in the Amerigo
Resources conference call.
Media are invited to attend on a listen-only basis.
Following management's presentation, the analyst and investment community
will be invited to ask questions.
Amerigo is a Canadian copper and molybdenum producing company with
operations near Santiago, Chile. Tel.: (604) 681-2802; Fax: (604) 682-2802;
Web: www.amerigoresources.com; listing: ARG:TSX.
The Toronto Stock Exchange has not reviewed nor accepted responsibility
for the adequacy or accuracy of the contents of this news release, which has
been prepared by management. Statements contained in this news release that
are not historical facts are forwarding-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties which could cause actual
results to differ materially from estimated results. Such risks and
uncertainties are detailed in the Company's filings with the TSX and on SEDAR.
Forward-looking statements are based on the beliefs, estimates and opinions of
the Company's management on the date the statements are made. The Company
undertakes no obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors, should change.
