18th Quarterly Dividend of Cdn$0.04 Declared
$20.4 million Returned to Shareholders in 2025
Company Remains Bullish on Copper Prices, Capital Return Strategy Fully Deployed
VANCOUVER, British Columbia, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX:ARG, OTCQX:ARREF) ("Amerigo" or the "Company") is pleased to announce strong financial results for the year and three months ("Q4-2025") ended December 31, 2025. Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.
Amerigo's 2025 financial results included net income of $35.4 million, basic earnings per share ("EPS") of $0.22, EBITDA1 of $89.8 million and free cash flow to equity1 ("FCFE1") of $37.1 million. In 2025, Amerigo returned $20.4 million to shareholders through quarterly dividends and share buybacks. Additionally, a performance dividend of Cdn$0.05 per share was declared on December 17, 2025 and paid on January 15, 2026, marking Amerigo's second year of full deployment of all the elements of its Capital Return Strategy2 ("CRS").
"Amerigo delivered strong financial results in 2025, driven by exceptional operating performance from MVC and disciplined cost management across the business. Our operational resilience was supported by a year of rising copper prices, evidenced by a 9% increase in the average annual London Metal Exchange ("LME") copper price. Amerigo's operational leverage in this dynamic copper price environment continued to support the unique ability of the Company's Capital Return Strategy2 to promptly reward shareholders," said Aurora Davidson, Amerigo's President and CEO.
"In 2025, despite intra-year price volatility, Amerigo responded to rising copper prices by quickly increasing the quarterly dividend by 33% and declaring our second performance dividend. We reduced our annual share count by 2.8 million shares, and very importantly, we eliminated our debt, which will allow increased cash to flow directly to shareholders through the CRS," Ms. Davidson added.
"As we enter 2026, LME copper prices have reached historical highs, and we think these new price levels will persist due to solid market fundamentals and a repricing of real assets as currency debasement continues. This provides a solid environment for our business. Amerigo's low capital intensity enables us to efficiently convert operating performance into free cash flow, and our CRS remains a top corporate priority. We will continue to focus on reliability, asset integrity and long-term operational stability, all of which support our ability to generate and return capital to shareholders."
As reported in Amerigo's news release of January 13, 2026, copper production from Minera Valle Central ("MVC"), the Company's wholly owned operation located near Rancagua, Chile, reached 62.2 million pounds ("M lbs") of copper (2024: 64.6 M lbs). MVC also produced 1.5 M lbs of molybdenum in 2025 (2024: 1.3 M lbs).
Financial results for Q4-2025 were strong and include net income of $17.9 million, EPS of $0.10, EBITDA1 of $38.1 million, and FCFE1 of $14.7 million.
On February 23, 2026, Amerigo's Board of Directors declared its eighteenth consecutive quarterly dividend. The dividend will be in the amount of Cdn$0.04 per share, payable on March 20, 2026, to shareholders of record as of March 6, 20263. Amerigo designates the entire amount of this taxable dividend to be an "eligible dividend" for purposes of the Income Tax Act (Canada), as amended from time to time.
Based on Amerigo's December 31, 2025 share closing price of Cdn$4.54, the Cdn$0.04 quarterly dividend declared on February 23, 2026, represents an annual dividend yield of 3.5%.
This news release should be read with Amerigo's audited consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the years ended December 31, 2025, and 2024, available on the Company's website at www.amerigoresources.com and on the SEDAR+ website at www.sedarplus.ca.
2025
2024
Q4-2025
Q4-2024
MVC's copper price ($/lb)4
4.73
4.15
5.35
4.06
Revenue ($ millions)
227.3
192.8
79.8
50.8
Net income ($ millions)
35.4
19.2
17.9
2.4
EPS ($)
0.22
0.12
0.10
0.01
EPS (Cdn)
0.30
0.16
0.14
0.02
EBITDA1 ($ millions)
89.8
68.8
38.1
19.6
Operating cash flow before changes in non-cash working capital1 ($ millions)
60.5
47.1
24.6
13.8
FCFE1 ($ millions)
37.1
27.8
14.7
8.0
At December 31,
2025
2024
Cash ($ millions)
40.3
35.9
Restricted cash ($ millions)
-
4.4
Borrowings ($ millions)
-
10.7
Shares outstanding at end of period (millions)
161.7
164.5
Highlights and Significant Items
Amerigo achieved solid financial performance in 2025, posting net income of $35.4 million (2024: $19.2 million), led by increases of $30.9 million in copper tolling revenue and $3.6 million in molybdenum revenue, and mitigated by increases of $12.8 million in tolling and production costs, $4.9 in deferred tax expense and $4.7 million in current income tax expense.
MVC's copper production was 62.2 million pounds ("M lbs") (2024: 64.6 M lbs) at an average MVC copper price of $4.73 per pound ("/lb") (2024: $4.15/lb).
Copper and molybdenum royalties paid to Codelco's Division El Teniente ("DET") in 2025 were $94.2 million (2024: $79.8 million).
EPS in 2025 was $0.22 (Cdn$0.30), compared to $0.12 (Cdn$0.16) in 2024.
The Company generated operating cash flow before changes in non-cash working capital1 of $60.5 million in 2025 (2024: $47.1 million). Annual net operating cash flow was $43.7 million (2024: $59.8 million). Free cash flow to equity1 was $37.1 million (2024: $27.8 million).
The Company repaid $11.5 million in debt (2024: $9.8 million), becoming debt-free in October 2025, and returned $20.4 million (2024: $21.2 million) to shareholders through dividends and share buybacks during the year.
2025 cash cost1 was $1.93/lb (2024: $1.89/lb). The $0.04/lb increase in cash cost was caused predominantly by a $0.09/lb increase in direct labour (including $0.06/lb associated with signing bonuses on MVC's 3-year plant operators' collective agreement), a $0.04/lb increase in power cost, a $0.04/lb increase in lime costs, a $0.03/lb increase in maintenance, and a $0.04/lb increase in other direct costs, offset by a $0.16/lb decrease in smelting and refining charges in response to the 2025 annual benchmark and a $0.09/lb increase in molybdenum by-product credits from stronger molybdenum production and prices.
On December 31, 2025, the Company held cash and cash equivalents of $40.3 million and no restricted cash, compared with $35.9 million in cash and cash equivalents and $4.4 million in restricted cash on December 31, 2024. Working capital (current assets less current liabilities) on December 31, 2025 was $10.9 million, up from a working capital deficiency of $6.5 million on December 31, 2024.
On December 31, 2025, the provisional copper price used by MVC was $5.35/lb. The final prices for October, November, and December 2025 sales will be the average LME prices for January ($5.94/lb), February, and March 2026, respectively. A 10% increase or decrease from the $5.35/lb provisional price used on December 31, 2025, would result in a $10.2 million change in revenue in the first quarter of 2026 ("Q1-2026") regarding Q4-2025 production.
Investor Conference Call on February 26, 2026
Amerigo's quarterly investor conference call will occur on Thursday, February 26, 2026, at 11:00 a.m. Pacific Standard Time/2:00 p.m. Eastern Standard Time. Participants can join by visiting https://emportal.ink/4nTAdr8 and entering their name and phone number.
The conference system will then call the participants and place them on the call instantly. Alternatively, participants can dial directly to be entered into the call by an Operator. Dial 1-888-510-2154 (Toll-Free North America) and state they wish to participate in the Amerigo Resources 2025 Earnings Call.
Interactive Analyst Center
Amerigo's public financial and operational information is available for download in Excel format through Virtua's Interactive Analyst Center ("IAC"). You can access the IAC by visiting www.amerigoresources.com under Investors > Interactive Analyst Center.
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; ARG: TSX; OTCQX: ARREF.
Contact Information
Aurora Davidson Graham FarrellPresident and CEO Investor Relations(604) 697-6207 (416) 842-9003[email protected] [email protected]
Summary Consolidated Statements of Financial Position
December 31,
December 31,
2025
2024
$ thousands
$ thousands
Cash and cash equivalents
40,313
35,864
Restricted cash
-
4,449
Property plant and equipment
132,288
143,708
Other assets
45,140
21,450
Total assets
217,741
205,471
Total liabilities
102,617
100,682
Shareholders' equity
115,124
104,789
Total liabilities and shareholders' equity
217,741
205,471
Summary Consolidated Statements of Income and Comprehensive Income
