Amerigo Announces Reduced Q4-2013 Power Charges
11 2월 2014 - 9:30PM
Marketwired
Amerigo Announces Reduced Q4-2013 Power Charges
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 11, 2014) -
Amerigo Resources Ltd. (TSX:ARG) ("Amerigo" or the "Company")
announced today that the Company's Q4-2013 power costs will be
$0.112/kwh, compared to $0.154/kwh as reported in its January 24,
2014 press release.
Q4-2013 power costs
include a retroactive sub-transmission line charge for the years
2011-2013 that required complex calculations involving data from
Chile's National Energy Commission, the central power grid
operating network and the Company's power supplier published in
late 2013. The $3.7 million ($0.057/kwh) original estimate of the
retroactive charge has been recalculated to be $0.98 million
($0.015/kwh) after careful scrutiny by Amerigo and its power
consultants.
Q4-2013 power
charges without the retroactive charge were $0.097/kwh.
For 2014 this
sub-transmission line charge is estimated to be approximately
$310,000 or $0.001/kwh.
The Company received
the original estimate of the retroactive charge at the time the
Q4-2013 production release was being finalized. Subsequently
management together with our power consultants reviewed the
calculations and determined that the initial estimate was
incorrect. The revised amount of $0.112/kwh for Q4-2013 power costs
will be reported in Amerigo's 2013 financial statements.
The Company will
release its 2013 annual financial results at market open on
Wednesday February 26, 2014, and will provide further clarification
during the investor conference call to be held on Thursday February
27, 2014 at 11:00 am Pacific Standard Time/2:00 pm Eastern Standard
Time.
To participate in
the call, please dial the following number:
|
1-866-226-1792 (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 discussion of the quarterly results, the analyst and
investment community will be invited to ask questions.
Amerigo Resources
Ltd. produces copper and molybdenum under a long term partnership
with the world's largest copper producer, Codelco, by means of
processing fresh and old tailings from the world's largest
underground copper mine, El Teniente near Santiago, Chile. Tel:
(604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com;
Listing: (TSX:ARG)
Certain of the
information and statements contained herein that are not historical
facts, constitute "forward-looking information" within the meaning
of the Securities Act (British Columbia), 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, 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 and in Management's Discussion and Analysis in the Company's
financial statements. 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.
Amerigo Resources Ltd.Dr. Klaus ZeitlerChairman & CEO(604)
218-7013 or (604) 697-6201Amerigo Resources Ltd.(604) 681-2802(604)
682-2802www.amerigoresources.com
Amerigo Resources (TSX:ARG)
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Amerigo Resources (TSX:ARG)
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