Amerigo completes debt refinance
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Amerigo (TSX: ARG) has extended the repayment deadline for the outstanding US$56.25 million of a $99.7 million expansion facility from the end of next year to September 2023. The company can repay all or part of the four-year Scotiabank Chile and Export Development Canada term loan early without penalty.
First payment is due under the restructured loan next March.
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Rob Henderson, Amerigo president and CEO, said the refinancing "substantially" reduced liquidity exposure for the company while adding repayment flexibility.
Amerigo retreats tailings from the massive El Teniente mine under a long-term agreement with Codelco.
The company's share price has dipped more than 19% since the start of the year on weaker copper prices which have impacted its profits from the expanded MVC operation.