- Argosy Minerals (AGY) carries out an official inspection of its Rincon project in Argentina as total works for the processing plant near completion
- The company is developing a 2000-tonne-per-annum lithium carbonate processing plant and has so far completed earthworks and the brine system
- AGY is moving to finalise construction works and has completed 42 per cent of the plant commissioning works as it nears its goal of first production by Q3 of 2022
- It comes as the price for lithium carbonate is predicted to continue to see record highs, which the company says could result in “very robust” upcoming product sales revenues
- Argosy Minerals shares last traded at 33 cents on June 29
Argosy Minerals (AGY) has carried out an official inspection of its Rincon project in Argentina as total works for the processing plant near completion.
The company is developing a 2000-tonne-per-annum (tpa) lithium carbonate processing plant and has so far completed earthworks and the brine system, with site works almost complete.
Most recently, Argosy has been working on the assembly and installation of equipment and auxiliary systems, first-phase commissioning, completing the on-site office and laboratory, and expanding the camp accommodation.
As this work is progressing, the company has also been continuing the recruitment of operational staff.
With a total of only ten per cent left of the work to complete, a project inspection was carried out with the Salta Province Mining Secretary, local municipality representatives and local community members.
Argosy maintained it was on budget and schedule to achieve its first battery-quality lithium carbonate product from the processing plant during the third quarter of this year.
It comes as lithium carbonate prices are forecast to continue to reach highs during 2022 and 2023, which Managing Director Jerko Zuvela said could result in “very robust” upcoming product sales revenues.
“The company is very excited with our progress to become the next commercial-scale lithium carbonate production operation, transforming into a cashflow generator, and progressing toward the next stage 12,000tpa scale operations,” Mr Zuvela said.
Argosy Minerals shares last traded at 33 cents on June 29.