Argosy Minerals Ltd (ASX: AGY)

Advised on further progress at the Rincon Lithium Project, located in Salta Province, Argentina, with 71% of the total works now completed for the development of the modular 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$447   @ 33 c
Location	Salta, Argentina, Nevada, USA

 

 

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Argosy Minerals Rincon 2,000TPA Li2CO3 Operational Update

 

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 71% of the total works now completed for the development of the modular 2,000tpa lithium carbonate production operation.

The Company remains on schedule to achieve first production of >99.5% battery quality
lithium carbonate product during the next quarter.

The 2,000tpa production operation major works comprise three main phases of works,
comprising design, construction and commissioning.

HIGHLIGHTS

71% of total construction works now complete – first production of battery quality
Li2CO3 product targeted during next quarter.

2,000tpa lithium carbonate process plant development works progressing on
schedule and budget.

The design phase works (including engineering layout) are fully complete (100%);
The construction phase works are 74% complete;
Plant commissioning works (comprising raw materials acquisition and workforce/team
development) are 13% complete.
The construction phase comprises the process plant, equipment and associated installations, earthworks and site facilities (including additional camp development and associated site infrastructure), and expansion of the brine system (pumping station, plant settling ponds), with all works progressing on budget and schedule, with;
99% of earthworks/land movements completed;
94% of site works completed (comprising site camp/accommodation, laboratory, office,
and other works);
the brine system works are fully complete (100%) (comprising pumping station and plant settling ponds works);
72% of the process plant completed (comprising plant equipment acquisition and plant
warehouse works); and
64% of utilities and associated services (comprising vapour system, communication
system and ancillary services works).

The Company is progressing toward successfully developing the modular 2,000tpa operation and become a commercial battery quality lithium carbonate producer.

 

Argosy Minerals management comments

“The Company’s Puna operations team continues with construction and development works progress at our Rincon Lithium Project, as we move closer to commencing the 2,000tpa lithium carbonate production operations.”

Argosy Minerals Managing Director, Jerko Zuvela

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If you need clarification of any information contained in this note, or have any questions about Argosy Minerals, 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 owns shares in Argosy Minerals, bought in the market at the prevailing price on the day of purchase.

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