Amerigo
Announces Q3 2008 Production Results
Copper Production 10.22M lbs, Molybdenum Production 261,234 lbs
VANCOUVER, BRITISH COLUMBIA � October 17/CNW/ -
Amerigo Resources Ltd. (TSX:ARG, "Amerigo"
or the "Company") announced today that during Q3-2008
Amerigo achieved record production for a total of 10.22 million
pounds of copper and 261,234 pounds of molybdenum, compared to 7.08 million
pounds of copper and 147,508 pounds of molybdenum in Q2-2008, and 8.05
million pounds of copper and 153,295 pounds of molybdenum in Q3-2007. The
Company will book Q3-2008 sales at $2.81/lb. (September 30, 2008 prices),
compared to Q2-2008 sales which were booked at $3.80/lb (June 30, 2008
prices).
The Company's power costs averaged $0.1703/kwh
during the quarter, and continued to show a declining trend.
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Amerigo Resources Ltd. is a Canadian company
producing copper and molybdenum from its MVC operations near Santiago,
Chile. Tel: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX
For further information, please
contact:
Dr. Klaus Zeitler,
President
(604) 681-2802, (604) 218-7013
Amerigo Resources Ltd.
Certain of the information and statements contained herein that are
not historical facts, constitute �forward-looking information� within the
meaning of the Securities Act (Ontario) and the Securities Act (Alberta)
(�Forward-Looking Information�). Forward-Looking Information is often,
but not always, identified by the use of words such as �seek�, �anticipate�,
�believe�, �plan�, �estimate�, �expect� and �intend�; statements that an
event or result is �due� on or �may�, �will�, �should�, �could�, or might�
occur or be achieved; and, other similar expressions. More
specifically, Forward-Looking Information contained herein includes, without
limitation, information concerning future tailings
production volumes and the Company's copper and molybdenum production, all of
which involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such Forward-Looking
Information; including, without limitation, material factors and assumptions
relating to, and risks and uncertainties associated with, the supply of
tailings from El Teniente and extraction of
tailings from the Colihues tailings impoundment,
the achievement and maintenance of planned production rates, the evolving
legal and political policies of Chile, the volatility in the Chilean economy,
military unrest or terrorist actions, metal price fluctuations, favourable
governmental relations, the availability of financing for activities when
required and on acceptable terms, the estimation of mineral resources and
reserves, current and future environmental and regulatory requirements, the
availability and timely receipt of permits, approvals and licenses,
industrial or environmental accidents, equipment breakdowns, availability of
and competition for future mineral acquisition opportunities, availability
and cost of insurance, labour disputes, land claims, the inherent uncertainty
of production and cost estimates, currency fluctuations, expectations and
beliefs of management and other risks and uncertainties, including those
described under Risk Factors in the Company�s Annual Information Form dated
March 31, 2008, and in each subsequent Management�s Discussion and
Analysis. Such Forward-Looking Information is based upon the Company�s
assumptions regarding global and Chilean economic, political and market
conditions and the price of metals, including copper and molybdenum, and
future tailings production volumes and the Company's copper and molybdenum production.. Among the factors that have a direct bearing on
the Company�s future results of operations and financial conditions are changes in project parameters as plans continue to be
refined, interruptions in the supply of fresh tailings from El Teniente, further delays in the extraction of tailings
from the Colihues tailings impoundment, a change in
government policies, competition, currency fluctuations and restrictions and
technological changes, among other things. Should one or more of any of
the aforementioned risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from any
conclusions, forecasts or projections described in the Forward-Looking
Information. Accordingly, readers are advised not to place undue
reliance on Forward-Looking Information. Except as required under
applicable securities legislation, the Company undertakes no obligation to
publicly update or revise Forward-Looking Information, whether as a result of
new information, future events or otherwise.
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