Sustainable copper for the green economy

Current Dividend Yield

7.7%

Amerigo’s current dividend yield reflects only the dividend paid every quarter (Cdn$0.03 per share). Amerigo considers this dividend to be secure in the foreseeable future. The current dividend yield is the cornerstone of Amerigo’s capital return strategy.

Amerigo’s capital return strategy gives shareholders a powerful hedge against inflation. In a copper price environment over $4 per pound, Amerigo may also pay additional performance dividends, increasing the total investment yield for Amerigo’s shareholders.

Operational Excellence

We expect to meet or exceed 2024 Guidance

Amerigo outperformed operational guidance in 2020, 2021 and 2022. In 2023, we faced unprecedented weather, which impacted production by 7.5%. Our 2024 Production Guidance of 62.4 million pounds of copper is back to normal. Every 1% outperformance will result in an extra 620,000 pounds of copper - or enough copper to build 3,382 battery electric vehicles.

Amerigo's operational excellence reflects its simple and proven technology. We are a business that consistently functions well from top to bottom. Operational excellence is the key to our capital return strategy.

Copper Recovered

955M lbs

Since 1992, Amerigo's operation MVC has recovered 955 million pounds of copper, equivalent to 80% of the estimated recoverable copper from the United States' mine production in a given year. Amerigo eliminates the need for another midsized copper mine in a world needing every pound of copper.

Dividend Outlook

$13.8M

Amerigo's ability to pay quarterly dividends is based on maintaining a minimum cash balance for stable operations and the Company's forward view of copper prices. Amerigo's cash balance is currently below the Company's desired cash target of $25M due to the lower production from historical floodings in Chile in Q2-2023 and Q3-2023. Operations returned to normal in September 2023, and cash balances are strengthening.

Protracted periods of declining copper prices will influence the sustainability of quarterly dividends more than short-term copper price volatility. Currently, Amerigo's outlook is for stable to long-term rising copper prices.