This happened after the offtake agreement. If you think this did not affect the share price then I suggest you buy a blue chip. Sure the price will fluctuate short term, but read the previous announcements, things are coming up this quarter.
On 18 September 2017, the Company advised of the recent commencement of drilling operations, noting the Company's primary objective of the drilling operations was to drill several production wells for pumping of lithium brine into the Stage 2 evaporation ponds under construction, complete exploration diamond drilling works with the intention to delineate a JORC Code-compliant resource estimate, and conduct brine test-works. These drilling works remain ongoing and the Company will update the market in accordance with its disclosure obligations.
Further additional ponds have been planned, and pending regulatory permits, are targeted for completion during October. This will result in a combined total of ~10 hectares of newly constructed lithium brine evaporation ponds.
the Company will be able to increase the Stage 1 lab pilot plant capacity up to 500tpa of LCE product, with first lithium carbonate equivalent (“LCE”) product scheduled during the March 2018 Quarter.
Patersons Securities Limited has completed a research note on the Company and released a report covering Argosy’s operations.
To view a copy of the report, entitled "PROOF OF CONCEPT TO ENABLE LITHIUM CARBONATE PRODUCTION", please visit our website at www.argosyminerals.com.au.
AGY Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
