This is not entirely correct either. The current NOTAM states no VFR Fri/Sat/Sun, which actually is an improvement over the past years (it was more restrictive then). They also have their 200knts thingy going, see 500above's post. What this means in practice is that depending on the controller's mood you'll be either holding forever - or not. Same on departure. There are ways to mitigate all that, essentially avoiding the 'waves' of CAT arrivals. LEMG can get insanely busy and then totally deserted in the space of a couple of hours.
Now, all this doesn't necessarily mean much, as you won't be flying the pattern at LEMG forever if you hour-build. What I would strongly suggest you do is to find out about the landing fees. Instructional flights have reduced landing fees, so this may be a non-issue, but in the past year or so, all AEANA airports have massively hiked their landing fees and introduced mandatory handling at most airports.