Argosy Minerals Limited (ASX: AGY)

Advised of further progress at the Rincon Lithium Project, located in Salta Province, Argentina, with current commissioning works having produced battery quality 99.76% lithium carbonate product as part of the overall development towards commencing the 2,000 tpa lithium carbonate production operation. 

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Argosy Minerals	ASX: AGY
Stage	Construction, development
Metals	Lithium   (77.5% of the project)
Market cap	A$751   @ 53.5 c
Location	Salta, Argentina, Nevada, USA

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RINCON 2,000TPA Li2CO3 OPERATIONAL UPDATE 99.76% LITHIUM CARBONATE PRODUCT PRODUCED DURING COMMISSIONING OPERATIONS

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Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to advise further progress at the Rincon Lithium Project, located in Salta Province, Argentina, with current commissioning works having produced battery quality 99.76% lithium carbonate product as part of the overall development towards commencing the 2,000tpa lithium carbonate production operation.

The Company is currently conducting commissioning and production test-works to produce battery quality lithium carbonate product from the Company’s 2,000tpa operation.

The final commissioning phase works are scheduled to be completed over coming weeks, leading to then commencing the production operations ramp-up phase during Q1-CY2023.

The company is targeting to complete the ramp-up phase and achieve steady-state production operations by end of Q2-CY2023.

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HIGHLIGHTS

Confirmation of ‘battery quality’ 99.76% lithium carbonate product produced from
Argosy’s 2,000tpa operation during commissioning works 2,000 tpa plant commissioning works currently progressing, with lithium carbonate
production operations ramp-up phase scheduled during next quarter.

Validation of chemical processing technology for continued development at Rincon
Argosy on-track to become only the second ASX-listed battery quality lithium
carbonate producer.

 

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Argosy Managing Director, Jerko Zuvela said

“This is a significant milestone for the Company and our onsite Puna Mining operations team, all who have been working extremely hard for this achievement.

 

“We are extremely proud to have built the 2,000tpa operation under budget and successfully proven our clean lithium process technology on a commercial scale, specially developed for our Rincon Lithium Project.

 

“The Company will now look to complete the 2,000tpa operation commissioning works and progress with ramping-up toward steady-state production operations and producing battery quality lithium carbonate product.

 

“The Company is on-track to become the 2nd ASX listed commercial scale lithium carbonate producer, transforming into a cashflow generator and leading to a significant near-term growth phase for the Company.

 

“The lithium market and lithium carbonate prices are forecast to continue around record highs into 2023 and beyond, resulting in very lucrative upcoming product sales revenues.”

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The Rincon onsite laboratory conducted the analysis works confirming the 99.76% Li2CO3 purity from a 250kg sample of lithium carbonate product produced from the current commissioning phase works.

Argosy is well positioned to take advantage of current and near-term lithium prices via the 2,000 tpa production operations.

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To read the full news release, please click HERE

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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Disclosure

At the time of writing the author holds shares in Argosy Minerals.

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