Thursday, August 28, 2008

Los Andes Copper and Amerigo Resources make a logical move

Los Andes Copper (LA.v) needed money to continue its exploration.

Amerigo Resources (ARG.to) has money, and it also has a track record of taking minority positions in junior copper miners in the region (check out the large chunk of DNT.to it owns).

But the big link is Dr. Klaus Zeitler, who happens to be the President of LA.v and also the Chairman of the very successful ARG.to.

The sum total of these three fact is the announcement made today by ARG.to and the whole deal makes a lot of sense. ARG.to now owns around 14% of the full dilution in LA.v. As for Klaus Zeitler, have a read of his resumé as posted on the LA.v website; for the record, this is a good example of the kind of background I like to see when I'm looking at a junior:

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Dr. Zeitler received his professional education at Karlsruhe University from 1959 to 1966 and obtained a PHD in economic planning. Dr. Zeitler is a member of the Canadian Institute of Mining and Metallurgy and the Prospectors and Developers Association. Dr. Zeitler financed, built and managed base metal and gold mines worldwide (Europe, Africa, North America, South America, Pacific) with a total investment value of $4 billion.

Dr. Zeitler was a managing director of Metallgeschaft AG, a German metals conglomerate and in 1986 founded and was a director and CEO of Metall Mining, later Inmet, a Toronto Stock Exchange listed company with assets of over $1 billion and base metal and gold mines in different parts of the world. After having been a director of Teck and Cominco for many years, Dr. Zeitler joined Teck in 1997 as Senior Vice President and had responsibilities for the exploration and development of mines in Peru, Mexico and the USA. Since his retirement in 2002 from Teck Cominco and in addition to being President and a director of Amerigo, Dr. Zeitler has been actively involved as a director in various junior base and precious metal companies.