Topic: How To Invest

Power Growth Investor Hotline – Friday, October 13, 2023

Article Excerpt

AMERIGO RESOURCES LTD., $1.24, 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 its production for the quarter ending September 30 was 8.21 million pounds. That was down 4.9% from million pounds a year earlier. The main reason for the shortfall was ongoing historic levels of rainfall in Chile. Expected production in the quarter was already lower than usual due to its operations losing their connection to the central power grid from June 23 to July 21, 2023, following severe flooding from heavy rains in Central Chile. While the extensive repairs required to…