- Argosy Minerals (AGY) is moving closer to producing lithium carbonate from its plant in Argentina, with 71 per cent of the total works complete
- While most of the earthworks, land movements and site works are complete, AGY is still progressing the acquisition of plant equipment as well as utilities and associated services
- The company is ready to install an industrial water treatment system but says shipping delays mean it is awaiting the delivery of equipment
- Despite this, AGY says it remains on track for first production at the Rincon project of 99.5 per cent battery quality lithium carbonate product next quarter
- Shares in Argosy Minerals last traded at 45.5 cents on April 29
Argosy Minerals (AGY) is moving closer to producing lithium carbonate from its Rincon project in Argentina, with 71 per cent of the total works complete.
With brine system works complete and most of the earthworks, land movements and site works complete, the company is now progressing the acquisition of plant equipment as well as utilities and associated services.
An industrial water treatment system is next to be installed, but shipping delays have pushed back the arrival of parts.
Despite this, the company said it remained on schedule to achieve first production of 99.5 per cent battery quality lithium carbonate product from the project next quarter.
Argosy said it expected to make significant progress over the coming months as equipment was received.
The company is also continuing its recruitment process, procuring raw materials in preparation for production, and conducting training programs for its production and operations team.
“The company’s priority is to ensure the final construction completion works are executed to the highest possible standards, to ensure commissioning works are conducted smoothly and seamlessly,” Managing Director Jerko Zuvela said.
“With such works, we are focussed on completing these correctly and diligently, given the outside matters affecting all projects currently.
“We look forward to a significant near-term growth phase from our operations this year and beyond,” he said.
Company shares last traded at 45.5 cents on April 29.