Amerigo cuts costs amid financial storm

Dec 30, 2008 | 11:10 AM | Anne Riley

Recoiling from collapsing metal prices and a brutal third quarter, Amerigo Resources Ltd., Vancouver, British Columbia, has taken a number of steps to secure capital and reduce costs in the upcoming year that the junior miner hopes will keep it afloat in an increasingly dismal economic environment.

The company, a copper and molybdenum producer with assets near Santiago, Chile, said Monday that it had extended its existing banking line with one Chilean bank and established a new line of credit with a second. In addition to securing loans, the company has also discussed arrangements....





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