VALE - Amerigo Resources: The Nasty Surprise In The Tailings Pond

Just when it appeared that Amerigo Resources ("Amerigo") (ARREF) had successfully navigated a major growth project - its Cauquenes Phase 2 expansion - some unexpected issues forced the company to reduce its copper production targets for 2019 and damped investors' enthusiasm:

Data by YCharts

As reflected by the chart above, the year started in a bullish mode for the shares, with the stars aligning for Amerigo:

• On Jan. 3, the company announced that the Cauquenes Phase 2 expansion had been successfully completed.
• On Jan. 16, Amerigo guided for record production of 80-85 million pounds of

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