Argosy Minerals (ASX: AGY)

Advised of progress at the Rincon Lithium Project, located in Salta Province, Argentina, with 95% of the total works now completed for the development of the 2,000tpa lithium carbonate production operation.

The Company remains on budget and is targeting to achieve first battery quality lithium
carbonate product next month. 

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Argosy Minerals	ASX: AGY
Stage	Construction, development
Metals	Lithium   (77.5% of the project)
Market cap	A$542   @ 40 c
Location	Salta, Argentina, Nevada, USA

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Argosy Minerals – RINCON 2,000 TPA 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 95% of the total works now completed for the development of the 2,000tpa lithium carbonate production operation.

The Company remains on budget and is targeting to achieve first battery quality lithium
carbonate product next month.

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HIGHLIGHTS

95% of total development works now complete – first battery quality Li2CO3 product targeted during next month
Commercial lithium carbonate production operations scheduled during next quarter

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

The design phase works are completed (100%);
The construction phase works are 98% complete; and
Plant commissioning works are 53% 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 residual works nearing practical completion;
earthworks/land movements completed (100%);
98% of site works completed (comprising site camp/accommodation, laboratory, office,
and other works);
brine system works completed (100%) (comprising pumping station and plant settling
ponds works);
99% of the process plant completed (comprising plant equipment acquisition, installation and plant warehouse works); and
95% of utilities and associated services (comprising vapour system, communication
system and ancillary services works).

The commissioning phase works have progressed significantly with primary commissioning works well underway and advancing toward the fully integrated plant and systems commissioning process, with;

93% raw materials procurement/acquisition achieved;
87% operations personnel recruitment and development conducted; and
35% plant and equipment commissioning tests performed.

 

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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 of purchase. 

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