There is no question that the current total production target currently is 2ktpa that forms part of the longer term target of a total 10ktpa production. 2ktpa now... additional 8ktpa later for total 10ktpa production.
From July update "At the conclusion of the two-year period, it is the Company’s current intention that, subject to feasibility, finance, market conditions and completion of development works at the Rincon Lithium Project, the Company’s 10,000tpa production target will apply. The current 2,000tpa production target is intended to form a modular part of the 10,000tpa operation from its commencement."
From the March quarterly "The combined JORC Indicated Mineral Resource and Exploration Target1 estimates outline the potential for a range of up to 507,000 tonnes to 724,000 tonnes of contained lithium carbonate to a depth of 300m." ... "With the existing JORC Indicated Mineral Resource estimate of 245,120 tonnes of Li2CO3 and associated works on the Preliminary Economic Assessment (completed November 2018), the Project’s life-of-mine was estimated at 16.5 years at a 10,000tpa Li2CO3 production rate, whilst an 11 year life-of-mine was confirmed for a 15,000tpa Li2CO3 production rate. Confirmatory works proving the Exploration Target estimate could materially increase the current mine life of the Project and/or provide scope to considerably increase the annual production capacity.
10,000tpa Environmental Impact Assessment Process The Company submitted the Environmental Impact Assessment report for the 10,000tpa Li2CO3 production operation to the department of the Salta Province Secretary of Mining, who are currently reviewing and processing the report, with final approval targeted during 2H-2021.Regulatory authorisation of the EIA report by Salta Province government regulatory bodies is the final requirement to approve the development and construction of the 10,000tpa lithium carbonate production and all associated operations at the Rincon Lithium Project. A Preliminary Economic Assessment for the 10,000tpa scale operation was completed in November 2018. Pending receipt of all regulatory approvals/permits, Argosy will consider developing the larger scale operation up to an additional 10,000tpa."
We know that 10ktpa is the current long term target for total production. The above implies that if the exploration target is confirmed ( 507,000-721,000t ) Then they would either increase the mine life and/or increase annual production capacity - considerably. I would reckon that another 5ktpa does not qualify as considerable on top of 10ktp... taken together with statement of considering an "additional 10,000tpa" following current 10,000tpa approvals.... There is no "consideration" of developing the current 10ktpa... that is done. The only consideration they can refer to is if they will increase total production capacity with an additional 10ktpa... thereby a 20ktpa production capacity in total.
20ktpa will also makes sense if the resource is proven at 507,000-721,000t giving a LOM of 25-36 years.
