- Earnings of $15.4 million
- Operating cash flow of $30 million
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/28/11 -- Amerigo Resources Ltd. (TSX: ARG) ('Amerigo' or the 'Company') reported today results for the year ended December 31, 2010.
Amerigo's President and CEO, Dr. Klaus Zeitler, stated, 'We are pleased to report that 2010 was an excellent year for Amerigo both in terms of production and financial results. Despite the effects of the devastating earthquake that struck Chile last February, the Company set annual production records for both copper and molybdenum. Revenues of $152 million were more than 70% higher than 2009, with net earnings of $15.4 million and operating cash flow of $30 million. Earnings and cash flow in Q4-2010 were equivalent to the combined results for the first three quarters of 2010. Cash and cash equivalents increased from $7.1 million to more than $35 million during the year. With the Company on solid financial ground and record production levels for both copper and molybdenum expected once again in the coming year, we are optimistic about Amerigo's prospects for 2011.'
[...]