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Mar 27, 2009 01:47PM
Amerigo Resources (ARG.to) down 2.8% at $0.34. This sold off heavily yesterday due to its big reported YE loss, but it really wasn't all that bad, considering. I liked the fact that ARG.to has written down its investments in DNT.to and LA.v (that was $18m) as that now provides a clean slate and potential upside in the junior copper world. The recent placements were very dilutive for sure, but they got a strong hand in as a shareholder (RB) and now have money to get through 2009. With copper at its current $1.83/lb now they'll have stopped the total fracture of money and are likely close to breakeven right now. Sure it's cheap, but there are worse out there. Mgmt very likeable, and that counts for a lot these days. DYODD.