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DGAP-News: Amerigo Resources Ltd.. published the financial results of the first quarter of 2010

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Release of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The content of the The issuer / publisher is solely responsible.
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* Cash flow from operations of $ 5,149,866
* Net income of 3,576,164 USD
* Increase in production is on track
Vancouver, British Columbia, 12 May 2010. Amerigo Resources Ltd. (TSX: ARG, WKN: 548 236, "Amerigo" or the "Company") today announced the Results for the 31 March 2010 quarter ended announced.
Mr. Steven Dean, Chairman of Amerigo, said: "We are pleased notwithstanding that the first quarter with a quarter of the season requires a low production, and despite the impact of the heavy Earthquake in Chile, for the first quarter of 2010, strong earnings and good to report cash flow. Net income was $ 3.6 million and cash flow from the Operation amounted to 5.1 million. "
Furthermore, Mr Dean said: ‘The outlook for second quarter 2010 remains more positive. It is made of a further increase in production old tailings material expected. We believe that the turn copper production in the second quarter of 2010, 40% higher than in the first Quarter. "
The main results
In the first quarter of 2010 the company focused on the Improvement in operating profitability and financial Performance and financial position. Company:
* Had in the first quarter 2010 (Q1-2010) sales of 29,656,765 USD and a net profit of $ 3,576,164. In the first quarter of 2009 (Q1-2009) sales totaled $ 13,021,611 and there was a net loss of $ 4,779,074 recorded.
* Generated in the quarter operating income of 4,023,457 USD in Q1 2009 was an operating loss of $ 2,601,186.
In Q1-2010 * generated an operating cash flow (excluding Changes are not cash-effective working capital accounts) of $ 5,149,866, in Q1-2009 were responsible for operating cash used $ 1,545,684.
* State, in its balance returned to positive working capital of $ 10,246,413 31 March 2010 here. On 31 December 2009 had the Company a working capital deficit of 6,353,737 USD.
* Had a total of $ 14,725,869 in cash.
* Was on the exercise of warrants 36,404,400 shares of Income of $ 11,396,912 from.
* Reaching for a first quarter Record copper production of 3896 tonnes of copper. An increase by 21% compared to me 3228 tonnes of copper in Q1-2009. The production of copper from old Tailings material increased from 93 tonnes in Q1-2009 to 1476 tonnes in Q1-2010.
* Makes substantial repayments of $ 3,742,334 for Enami outstanding loans ($ 975,000), a Chilean Bank ($ 874,144) and El Teniente ($ 1,893,190).
Financial Results
* With an average retail price of $ 3.20 per pound for copper, the company achieved an operating profit of $ 4,023,457 and a net income of $ 3,576,164. In Q1 2009 there was a operating loss of $ 2,601,186 and a net loss of $ 4,779,074 recorded.
* Revenues totaled $ 29,656,765, compared with $ 13,021,611 in Q1-2009. The rise was due to increased production and on solid copper and molybdenum prices due. In Q1-2010 totaled $ 25,633,308 Cost of sales, compared with $ 15,622,797 in Q1-2009. The cost of sales increased due to higher Production and royalty costs. Royalty costs are on the production and the monthly average copper price dependent.
* The cash flow from operations reached with changes Working capital accounts total $ 925,926 or 1 cent per share. In Q1-2009 totaled used for operating cash $ 8,639,787, or 8 cents per Share. The most significant change in working capital accounts in the Q1-2010 was the repayment of current and lagged Royalties in the amount of $ 3,375,798 at El Teniente.
Production
* The company produced 8.59 million pounds of copper. A Increase by 21% compared with the 7.12 million pounds in Q1-2009.
* The molybdenum production amounted to 143 371 pounds, 48% more than 97 184 pounds in Q1-2009. Main reason for the increase were better salaries and the increased processing of old Tailings material.
Turnover
* Revenue increased to $ 29,656,765 compared to $ 13,021,611 in Q1-2009. Reasons were the higher average Copper and molybdenum prices and higher production. The Selling price of the company for copper from melt, refinery and other costs were $ 3.20 per pound in Q1 2009 were $ 1.82 per pound. The selling price for molybdenum was $ 16.16 per pound in Q1-2009 were $ 8.63 per pound. In the quarter was the sale price of 2,400 tonnes of copper (63% of the copper supply of the quarter) to 3.20 USD / pound limit. Compared to Q1-2009 increased the sales of Copper by 20% and the molybdenum sales by 35%.
Costs
* The cash cost (sum of smelting, refining and other Costs, production costs net of molybdenum credits Administration and transportation costs) before El Teniente royalty were at 1.92 USD / pound, compared with $ 1.94 per pound in Q1-2009. The cash cost to fly slightly in Q1-2010 due to higher levels of production and higher molybdenum Beiproduktgutschriften.
* The total cost (sum of cash cost, El Teniente royalty, Depreciation and write-up) were $ 2.86 per pound, compared with 2.42 USD / pound in Q1-2009. The increase in total cash costs was driven by a higher El Teniente royalty because of tighter copper and molybdenum prices.
* The current costs in Q1 2010 amounted to $ 8,040,576 (0.1479 USS / kWh), compared with $ 5,842,586 ($ 0.1488 / kwh) in Q1-2009. The Increase in total electricity costs was due to the higher total Energy consumption due to increased production reasons. It is expected in 2010 for the Chilean electricity costs, a level comparable with 2009th
* The total operating costs, such as electricity, steel and reagents increased compared to Q1-2009 due to increased production. were due to the higher maintenance costs of the processing plant the unit costs in the quarter also higher, the cost were for processing old tailings material virtually zero in Q1-2009.
Cash and Financing Activities
* 31 March 2010 the cash position amounted to $ 14,725,869, compared with $ 7,191,093 31 December 2009.
* The company generated revenue of 11,396,912 USD by Exercise of warrants in Q1-2010.
* After 31 March 2010, the company has short- Credit of $ 5,449,891 in a three-year loan restructured.
Investments
* Payments for capital expenditure amounted to 2,953,714 USD, compared to 2,965,313 USD in Q1-2009. The Q1-2010 caused capital expenditures were $ 2,096,676, together (Q1 2009: 2,653,414 USD).
The investments in the company * Copper Corp. Candente. ("Candente Copper ‘), Gold Corp. Candente. ("Candente Gold ‘) and Los Andes Copper Ltd.
(‘Andes’) had 31 March 2010 an aggregate fair value of $ 7,885,675 (31 December 2009: $ 6,754,790). The 1,130,885 USD in value of these tax systems in Q1 2010 (Q1-2009: affect $ 1,872,143) of the net profits, but in other Total profit after tax for the quarter with $ 1,002,212 (Q1 2009: $ 1,872,143) contain.
View
* It is expected in Q2-2010 to increase production of copper 30 –
40% compared to Q1-2010. The molybdenum production in the Q2-2010, also compared the level of the first quarter . Rise
The information in this press release, and the selected financial information on the following page should Connection with the consolidated financial statements and the discussion and Analysis of management for the year ended 31 March 2010 quarter ended and consolidated financial reports and the discussion and analysis for the year ended 31 December 2009 year ended to be read. These are on the Company’s website at www.amerigoresources.com and www.sedar.com be available.
Amerigo Resources Ltd. is a Canadian junior company Copper and molybdenum, with its MVC operations near Santiago, Chile, produced. Tel: (604) 681-2802, Fax: (604) 682-2802, Web: www.amerigoresources.com, Listing: ARG: TSX
The Toronto Stock Exchange has the content of the Management Press Release prepared neither reviewed nor does it Responsibility for the accuracy and content. Herein Statements that are not historical facts, are predictive Information in accordance with the Private Securities Litigation Reform Act of 1995th These forward-looking information involve risks and Uncertainties that may cause actual results to differ materially from the planned to differ. The risks and uncertainties, see with the TSX and on SEDAR more information. Forward Information is based on faith, estimates and opinions of the Management on the day of the utterance. The company is committed not to revise these forward-looking information, the faith, estimates and opinions of management or other factors change.
The content of the press release alone, the company is responsible. It was neither of the TSX Venture Exchange, nor by a third party examined. The German version can be reduced or be summarized. There is no responsibility or liability: for the content, for the accuracy, adequacy or accuracy of this Www.sedar.com. From the perspective of the translator, the message not buy or sell recommendation is! Please note that the English Original message on www.sedar.com or www.sec.gov or on the company website!
Contact:
Dr. Klaus Zeitler Amerigo Resources Ltd. President Phone: (604) 681-2802 or (604) 218-7013 Fax: (604) 682-2802 Website: www.amerigoresources.com
Contact for German investors: Metals & Mining Ltd. Consult. Tel: 03641/597471 investor (a) metals-consult.com
Annex
Consolidated financial statements, cash flow and production, see the Original Message:
http://www.amerigoresources.com/_resources/news/NR08_05.12.10Q1-2010_Finan cial_Results.pdf
13.05.2010 12:59 Ad-hoc reports, financial news and Press releases transmitted by DGAP. Media Library under http://www.dgap-medientreff.de and http://www.dgap.de

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