Join our daily newsletter At The Bell to receive exclusive market insights
- Lithium producer Argosy Minerals (AGY) expects its first shipments from its Rincon project in Argentine early next year
- Roughly five tonnes of high-quality lithium carbonate will be shipped at a higher than expected grade
- Lithium carbonate from the project reaches grades up to 99.8 per cent
- The company says it is nearing final approvals to begin developing its lithium carbonate processing plant at the project
- The plant will be capable of processing around 2000 tonnes each year
- Argosy’s share price is up over four per cent and trading for 7.6 cents each
Lithium producer Argosy Minerals (AGY) has round off Thursday trade over four per cent in the green after releasing an update of its Rincon project in Argentina.
The company announced it expects its first shipment of lithium carbonate to be made in the early first quarter next year. The first shipment is for roughly five tonnes of the high-quality product which has exceeded the specified quality guideline. The grades of lithium carbonate recorded reach 99.8 per cent.
“We are excited at the pending maiden shipment of high-quality lithium carbonate produced from our Rincon Lithium Project,” company Managing Director Jerko Zuvela said.
This will also confirm the company’s status as the “first LCE producer from Salta Province in Argentina,” Jerko added.
In today’s update to the Australian market, Argosy also outlined it is heading towards final approvals for developing its 2000 tonne per annum lithium carbonate processing plant at the project.
At market close, Argosy’s share price is up 4.11 per cent and trading for 7.6 cents each.
