Amerigo Renews Normal Course Issuer Bid (“NCIB”)
Rhea-AI Summary
Amerigo (TSX: ARG; OTCQX: ARREF) received TSX approval to renew its Normal Course Issuer Bid, allowing repurchase for cancellation of up to 11,700,000 shares (≈10% of public float) from Dec 2, 2025, to Dec 1, 2026. The NCIB daily purchase limit is 68,239 shares (25% of six‑month ADTV of 272,958), with one weekly block exception. Amerigo reaffirmed its capital return strategy of quarterly dividends (Cdn$0.04/share), performance dividends and NCIBs, noting 25.6 million shares retired over four years and $93.7M total returned since Oct 2021. Prior NCIB repurchased 3,967,984 shares at a weighted average price of Cdn$1.80.
Positive
- NCIB approved to buy up to 11.7M shares
- Share repurchases target ≈10% of public float
- Quarterly dividend of Cdn$0.04 per share
- Total capital returned $93.7M since Oct 2021
- 25.6M shares retired over four years
Negative
- Prior NCIB repurchased only 3,967,984 of 12,000,000 approved
- Daily NCIB cap of 68,239 shares may limit execution speed
- No assurance any or all 11.7M shares will be acquired
News Market Reaction
On the day this news was published, ARREF gained 6.20%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Amerigo gained 2.35% with elevated volume, while copper peers showed mixed but generally positive moves: FARADAY COPPER up 4.97%, ARIZONA SONORAN COPPER up 5.72%, COPPER FOX METALS up 1.03%, and others flat. The pattern suggests some sector strength, but scanner data flagged this as stock-specific rather than a broad momentum move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 10 | Performance dividend | Positive | +6.6% | Declared Cdn$0.05 performance dividend, completing 2025 capital return program. |
| Dec 02 | Awards recognition | Positive | +0.2% | MVC won 2025 Circular Awards for energy and environmental transformation project. |
| Nov 28 | NCIB renewal | Positive | +6.2% | TSX approval to repurchase up to 11.7M shares and reaffirm capital return strategy. |
| Oct 29 | Q3 results & dividend | Positive | +12.3% | Strong Q3 results, full debt repayment and higher quarterly dividend to Cdn$0.04. |
| Oct 23 | Labour agreement | Positive | +3.0% | Three-year collective labour agreement at MVC supporting operational stability. |
Recent news, particularly capital return and operational updates, has consistently coincided with positive share price reactions.
Over recent months, Amerigo has emphasized capital returns and operational stability. In Q3-2025 it reported net income of $6.7M, EBITDA of $18.7M, fully repaid $7.5M of debt, and raised its quarterly dividend to Cdn$0.04. Subsequent announcements included a three-year labour agreement at MVC and industry recognition via the 2025 Circular Awards. Dividend and NCIB-related news on Nov 28 and Dec 10 showed strong positive price reactions, underscoring market focus on Amerigo’s capital return strategy.
Market Pulse Summary
The stock moved +6.2% in the session following this news. A strong positive reaction aligns with Amerigo’s recent pattern, where capital return announcements often preceded gains, such as prior NCIB and dividend news that saw moves of 6.2% and 6.62%. The authorization to repurchase up to 11.7M shares and a history of returning $93.7M since 2021 reinforced the buyback theme. Investors would need to watch how actively the NCIB is used and whether elevated volume near the 52-week high exhausts demand.
Key Terms
normal course issuer bid financial
public float financial
average daily trading volume financial
block purchase financial
AI-generated analysis. Not financial advice.
- Renewal of NCIB Allows Continued Repurchase of Shares for Cancellation
- Up to 11.7 Million Shares May be Purchased for Cancellation
- Primary NCIB Goal Remains Maintaining a Constant YOY Outstanding Share Count
- Amerigo’s Capital Return Strategy Includes Quarterly Dividends, Performance Dividends & NCIB
VANCOUVER, British Columbia, Nov. 28, 2025 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to announce that it has received approval from the Toronto Stock Exchange (the “TSX”) to proceed with a new normal course issuer bid (the “NCIB”).
“Amerigo’s Capital Return Strategy continues to deliver tangible value to the Company’s shareholders,” said Aurora Davidson, Amerigo’s President and CEO. “With the renewal of the Normal Course Issuer Bid, we reaffirm our commitment to disciplined capital allocation. As part of our multi-faceted Capital Return Strategy, which also includes quarterly dividends and performance dividends, we have retired more than 25.6 million shares over the past four years. The renewal of the NCIB allows Amerigo to continue to opportunistically repurchase shares, guided by copper prices, market conditions, and our expectation of strong cash flow. The minimum goal for the NCIB remains consistent with previous years: to maintain a constant share count and enhance long-term shareholder value.”
Under the NCIB, Amerigo may purchase for cancellation up to 11,700,000 common shares of the Company (the “Shares”), approximately
Amerigo’s average daily trading volume (“ADTV”) for the six months ending October 31, 2025, was 272,958 Shares. Therefore, the NCIB’s daily purchase limit will be 68,239 Shares, which is
Under the NCIB, Shares may be purchased in open market transactions on the TSX at the prevailing market price at the time of such trade. The Shares will be purchased in accordance with the requirements of the TSX and will be cancelled.
Amerigo will determine the actual number of shares purchased under the NCIB and the timing of such purchases. There can be no assurance as to how many, if any, Shares will ultimately be acquired by the Company.
The NCIB will commence on December 2, 2025, and may continue until December 1, 2026, or at such earlier time as the NCIB is completed or terminated at the Company's option.
Under Amerigo’s previous NCIB, which commenced on December 2, 2024, and will expire on December 1, 2025, Amerigo received TSX approval to purchase up to 12,000,000 Shares in open market transactions on the TSX, and Amerigo repurchased and cancelled 3,967,984 Shares at a weighted average purchase price of Cdn
Amerigo’s market-leading Capital Return Strategy uses quarterly dividends of Cdn
Capital returned to shareholders.
The table below summarizes the capital returned to shareholders since the implementation of Amerigo’s Capital Return Strategy in October 2021.
| (Expressed in millions) | |||
| Shares repurchased | Dividends Paid | Total | |
| $ | $ | $ | |
| 2021 | 8.8 | 2.8 | 11.6 |
| 2022 | 12.3 | 15.8 | 28.1 |
| 2023 | 2.6 | 14.6 | 17.2 |
| 2024 | 1.8 | 19.4 | 21.2 |
| 2025 | 5.1 | 10.5 | 15.6 |
| 30.6 | 63.1 | 93.7 | |
About Amerigo and Minera Valle Central (“MVC”)
Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile (“Codelco”), the world’s largest copper producer.
Amerigo produces copper concentrate and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world's largest underground copper mine. Tel: (604) 681-2802; Web: www.amerigoresources.com; TSX: ARG; OTCQX: ARREF.
Contact Information
| Aurora Davidson President and CEO (604) 697-6207 ad@amerigoresources.com | Graham Farrell Investor Relations (416) 842-9003 graham@northstarir.ca |
Cautionary Statement Regarding Forward-Looking Information
Forward-looking information (“forward-looking statements”) is included in this news release. These forward-looking statements are identified by the use of terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should” and similar terms and phrases, including references to assumptions. Such statements may involve, but are not limited to, Amerigo’s plans, objectives, expectations and intentions, including Amerigo’s objectives and expectations regarding the number of shares that Amerigo may purchase under the NCIB, Amerigo’s return of capital policy and other comments concerning strategies, expectations, planned operations or future actions.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such statements.
Inherent in forward-looking statements are risks and uncertainties beyond Amerigo’s ability to predict or control, including risks that may affect Amerigo’s operating or capital plans; risks generally encountered in the permitting and development of mineral projects such as unusual or unexpected geological formations, negotiations with government and other third parties, unanticipated metallurgical difficulties, delays associated with permits, approvals and permit appeals, ground control problems, adverse weather conditions, process upsets and equipment malfunctions; risks associated with labour disturbances and availability of skilled labour and management; risks related to the potential impact of global or national health concerns, and the inability of employees to access sufficient healthcare; government or regulatory actions or inactions; fluctuations in the market prices of Amerigo’s principal commodities, which are cyclical and subject to substantial price fluctuations; risks created through competition for mining projects and properties; risks associated with lack of access to markets; risks related to availability of and Amerigo’s ability to obtain both tailings from Codelco’s Division El Teniente’s current production and historic tailings from tailings deposits; risks with respect to the ability of Amerigo to draw down funds from lines of credit and the availability of and ability of Amerigo to obtain adequate funding on reasonable terms for expansions and acquisitions; mine plan estimates; risks posed by fluctuations in exchange rates and interest rates, as well as general economic conditions; risks associated with environmental compliance and changes in environmental legislation and regulation; risks related to Amerigo’s dependence on third parties for the provision of critical services; risks related to non-performance by contractual counterparties; title risks; social and political risks associated with operations in foreign countries; risks of changes in laws affecting Amerigo’s operations or their interpretation, including foreign exchange controls; and risks associated with tax reassessments and legal proceedings. Many of these risks and uncertainties apply to Amerigo and its operations, as well as to Codelco and its operations. Codelco’s ongoing mining operations provide a significant portion of the materials Amerigo processes and its resulting metals production. Therefore, these risks and uncertainties may also affect their operations and have a material effect on Amerigo.
Actual results and developments are likely to differ materially from those expressed or implied by the forward-looking statements in this news release. Such statements are based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about:
- general business and economic conditions;
- Interest and currency exchange rates;
- changes in commodity and power prices;
- acts of foreign governments and the outcome of legal proceedings;
- the supply and demand for deliveries of and the level and volatility of prices of copper, molybdenum and other commodities and products used in our operations;
- the ongoing supply of material for processing from DET’s current mining operations, including a resumption of supply of tailings pursuant to the ramp-up of El Teniente’s operations under the Safe and Progressive Restart of Operations following the tunnel collapse at the El Teniente mine;
- the grade and projected recoveries of tailings processed by MVC;
- the ability of the Company to profitably extract and process material from the historic tailings deposit;
- the timing of the receipt of and retention of permits and other regulatory and governmental approvals;
- our costs of production and our production and productivity levels, as well as those of our competitors;
- changes in credit market conditions and conditions in financial markets generally;
- our ability to procure equipment and operating supplies in sufficient quantities and on a timely basis;
- the availability of qualified employees and contractors for our operations;
- our ability to attract and retain skilled staff;
- the satisfactory negotiation of collective agreements with unionized employees;
- the impact of changes in foreign exchange rates and capital repatriation on our costs and results;
- engineering and construction timetables and capital costs for our expansion projects;
- costs of closure of various operations;
- market competition;
- tax benefits and tax rates;
- the outcome of our copper concentrate sales and treatment and refining charge negotiations;
- the resolution of environmental and other proceedings or disputes;
- the future supply of reasonably priced power;
- average recoveries for fresh and historic tailings;
- our ability to obtain, comply with and renew permits and licenses in a timely manner; and
- our ongoing relations with our employees and entities with which we do business.
Future production levels and cost estimates assume no adverse mining or other events significantly affecting budgeted production levels.
Climate change is a global issue that could pose challenges that could affect the Company's future operations. This could include more frequent and intense droughts followed by intense rainfall. Over the last several years, Central Chile has experienced both drought conditions and significant rainfall episodes. The Company’s operations are sensitive to water availability and the reserves required to process projected historic tailings tonnage.
Although the Company believes that these assumptions were reasonable when made, they are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control. Therefore, the Company cannot assure that it will achieve or accomplish the expectations, beliefs, or projections described in the forward-looking statements.
The preceding list of important factors and assumptions is not exhaustive. Other events or circumstances could cause our results to differ materially from those estimated, projected, and expressed in or implied by our forward-looking statements. You should also consider the matters discussed under Risk Factors in the Company`s Annual Information Form. The forward-looking statements contained herein speak only as of the date of this news release. Except as required by law, we undertake no obligation to revise any forward-looking statements or the preceding list of factors, whether due publicly or otherwise, to new information or future events.
FAQ
When does Amerigo's renewed NCIB (ARREF) begin and end?
How many ARREF shares can Amerigo repurchase under the NCIB?
What is the daily purchase limit under Amerigo's NCIB for ARREF?
How much capital has Amerigo returned to shareholders since Oct 2021?
What dividends does Amerigo pay alongside the NCIB for ARREF holders?
How many shares did Amerigo repurchase under the previous NCIB and at what price?
