- Argosy Minerals (AGY) reports its 2000 tonne per annum lithium carbonate operations in Argentina are 98 per cent complete
- The Rincon lithium project has produced 99.76 per cent lithium carbonate during early testing
- Argosy plans to be in steady production by the end of the second quarter of this calendar year
- All raw materials have been acquired, personnel have been recruited and 85 per cent of plant and equipment has been tested
- Shares were trading at 56 cents at 11.30am (AEDT)
Argosy Minerals (AGY) reports its 2000 tonne per annum lithium carbonate operation in Argentina is 98 per cent complete.
Plant commissioning works at its 77 per cent-owned Rincon Lithium Project are 90 per cent complete at the site in Salta Province and the company has produced battery quality 99.76 per cent lithium carbonate.
Commissioning and production test works are set to be finished within weeks, before the production ramp-up phase.
All raw materials have been acquired, personnel have been recruited and 85 per cent of plant and equipment has been tested.
Argosy plans to achieve steady production by the end of the second quarter of this calendar year.
Managing Director Jerko Zuvela said Argosy was on track to be the second ASX-listed commercial scale lithium carbonate producer.
“We look forward to achieving many more significant milestones in 2023 as we transform into a cashflow generator, capitalising on lucrative lithium carbonate prices via upcoming product sales revenues, leading to a significant near-term growth phase for the company,” he said.
Argosy shares were trading marginally lower at 56 cents at 11.30am AEDT.