Amerigo Resources Declares Dividend
AMERIGO RESOURCES LTD. (Vancouver, British Columbia) announced today that its Board of Directors has approved a policy of paying semi-annual dividends with the first dividend of Cdn 4.5 cents per common share payable on September 1, 2005 to shareholders of record August 19, 2005.
The Company views common share dividends as an important part of a shareholder’s return on investment. The nature of the Company’s present operations at MVC and current market conditions lend themselves to the payment of a regular dividend, and it is the present intention of the Board of Directors to pass on the benefits of strong copper and molybdenum prices to shareholders.
The Company’s dividend policy will be, under normal circumstances and after taking into account the Company’s cash flow, short term and long term needs and objectives, to declare and pay dividends on the Common Shares averaging at least one-third of reported net earnings over a period of years. The declaration of each dividend, however, is in the discretion of the Board of Directors which reserves the right to adjust or terminate the declaration and payment of dividends from time to time according to the prevailing business environment and cash needs of the Company.
Amerigo Resources Ltd. is a Canadian copper and molybdenum producing company forecasting 15,000 tonnes of copper production and 600,000 pounds of molybdenum in 2005 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:
Klaus Zeitler, President
Amerigo Resources Ltd.
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 forward-looking statements as that term is defined in 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.