Topic: How To Invest

Power Growth Investor Hotline – Friday, October 1, 2021

Article Excerpt

AMERIGO RESOURCES LTD., $1.27, is a buy for aggressive investors. The company, symbol ARG on Toronto, processes copper and molybdenum from the waste rock of the El Teniente mine in Chile. That site is the world’s largest copper operation. Amerigo also has other deals to process material at the nearby Colihues and Cauquenes tailings ponds. It currently gets 94% of its revenue from processing copper. The remaining 6% comes from its output of molybdenum, which is used in steelmaking. This week, Amerigo announced that it will reinstate a quarterly dividend in the fourth quarter of this year. The rate has not yet been set. Meanwhile, the company also plans to buy back up to $25 million of its common shares (about 11% of the total) through a Dutch auction process. Investors who want to participate must offer their shares for between $1.18 and $1.30 (in increments of $0.02) before November 12, 2021. The final sales price will be the lowest amount within that range…