- Argosy Minerals (AGY) reports it is on track to begin producing its first battery-quality lithium carbonate product from its Rincon lithium project in Argentina in October
- AGY has completed 95 per cent of its project development work, with its construction phase 98 per cent complete and its commissioning phase more than halfway done
- All that remains for the construction phase of the project is a handful of tasks regarding site works, the development of a process plant in the area, and utilities and associated services
- Argosy says it has continued to recruit staff for the project and has delivered its first-fill process reagents in preparation for production operations next month
- Shares in Argosy Minerals last traded at 42 cents on Wednesday, August 31
Argosy Minerals (AGY) reported it was on track to begin producing its first battery-quality lithium carbonate product from its Rincon lithium project in Argentina in October.
The company has officially completed 95 per cent of its total development works for the project, with only a handful of tasks outstanding regarding site works, the development of a process plant in the area, and utilities and associated services. The construction phase of the Rincon development plan is 98 per cent complete
Argosy estimated it had also completed 53 per cent of its plant commissioning works, and the company said it would continue to progress dry and wet commissioning tests as it worked toward its October production goal.
Managing Director Jerko Zuvela said the lithium market had continued its strong momentum this year, and prices were forecast to reach record highs in 2023 and beyond — potentially leading to “very lucrative” upcoming sales revenues for Argosy.
“The company’s Puna operations team are conducting commissioning phase works whilst nearing completion of plant construction works and proceeding toward lithium carbonate production operations,” Mr Zuvela said.
“The company is very excited with our progress to date and upcoming major milestones — becoming the next commercial-scale lithium carbonate producer and transforming into a cashflow generator, leading to a significant near-term growth phase for the company.”
Some of the recently-completed works at the Rincon project include the assembly and installation of some key plant equipment, with vacuum belt and press filters nearing completion.
Argosy has also continued to recruit staff for the project, and the company said it had delivered its first-fill process reagents in preparation for production operations from the project.
The company ultimately plans to produce 2000 tonnes of battery-quality lithium carbonate from its Rincon project.
Shares in Argosy Minerals last traded at 42 cents on Wednesday, August 31.