Argosy Minerals (ASX: AGY)
Advised of further progress at the Rincon Lithium Project, located in Salta Province, Argentina, with 98% of the total works completed for the development of the 2,000 tpa lithium carbonate production operation, including current commissioning works at 90% completion, during which the Company has produced battery quality 99.76% lithium carbonate product, towards commencing lithium carbonate production operations.
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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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Argosy Minerals RINCON 2,000TPA Li2CO3 OPERATIONAL UPDATE
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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 98% of the total works completed for the development of the 2,000 tpa lithium carbonate production operation, including current commissioning works at 90% completion, during which the Company has produced battery quality 99.76% lithium carbonate product, towards commencing lithium carbonate production operations.
The current commissioning and production test-works phase is scheduled to be completed over coming weeks, leading to then commencing the production ramp-up phase during the current quarter.
The Company is targeting to complete the ramp-up phase and achieve steady-state production operations by end of Q2-CY2023.
HIGHLIGHTS
98% of 2,000 tpa operational development works complete – with current plant
commissioning works 90% complete and produced 1 tonne of battery quality lithium
carbonate Battery quality 99.76% lithium carbonate product successfully produced during current commissioning and production test-works.
Ramp-up phase of continuous lithium carbonate production operations scheduled during current quarter and advancing toward steady-state production operations by
end of Q2-CY2023
Argosy on-track to become only the 2nd ASX-listed battery quality lithium carbonate
producer Lithium carbonate prices recently trading at US$75,000/t (CIF North Asia, S&P Platts)
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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, bought in the market at the prevailing price on the days pf purchase.
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