Fundamentals (New), page-364

Thought I'd post this comparison between the June and March Quarterlies under Fundamentals (I had to got back about 1/2 doz pages to find the Fundamentals thread !!) (I have also included a reference from the 6 June ANN).
March Qtr Rpt
June Qtr Rpt
6 June ANN

The original intention was to gauge the progress being made by comparing the relative statements, eg March Qtr was talking about producing BG LCE, where as June Qtr is now talking about producing consistent BG LCE (my inference from this is that they've produced at least one result for BG LCE!).

As a secondary benefit though, it also helps summarise where things are at with the key deliverables I think most holders will be interested in, as well as a nice summary of where things are at with the PEA/JORC (which has been a recent query with some posters).

As usual, HC continues to frustrate me with table formatting , but I've done my best to make it both readable and presentable...  (fingers crossed!)

Note: All the words are direct copy/paste from the 2 Qtr reports plus the 6 June ANN... ie I've not changed any words (but have cropped to make sentences succinct), and have only tried to align the various topics so they have direct reference to each other.  

Usual caveats: I'm only sharing cause I thought it's a nice little summary of the things I'm interested in and figured others might be too...  I'm not trying to influence anyone (especially "nauti" people !).  If you want to know more...  DYOR

	Column 1	Column 2	Column 3
0		Mar 2018 & ANN 06/06/2018​	June 2018​
1	BG LCE	Objective:  Continue Stage 1 industrial scale pilot plant lithium processing works to produce battery grade LCE product	Objective:  Continue Stage 1 industrial scale pilot plant lithium processing works to produce consistent battery grade LCE product
2			Pg 2: … During the Quarter, the Company advised that the recently constructed and commissioned Stage 1 plant had commenced operations and produced the first batch of LCE product.  (ReferANN 06/06/2018)
3		ANN 06/06/2018:  Pg 1:  … The material sampled is expected to meet 'battery grade' specification in terms of key deleterious elements, but there is some solvent remaining … meaning the initial batch of LCE produced is ‘industrial grade'. Argosy is extremely happy with the outcome regarding key ‘difficult to remove’ elements such as Mg, SO4 and metallic impurities, and the Company is confident the remaining product washing issue is solvable …	Pg 3: … Stage 1 processing test-works have currently resulted in removal of more difficult impurities like sulphates, boron, calcium and magnesium to acceptable levels, and the current focus is ensuring targets for process recovery and re-agent use are met. In addition, current test-works are targeting to replicate results from varying batches of LCE product to ensure product quality consistency, which is critical for future product sales to battery and cathode manufacturers.
4		ANN 06/06/2018 Pg 2:  … BG LCE price US$15-17k, IG LCE US$12-14k
5	Pilot Plant	Pg 2:  … are hastened to carry out commissioning and test-works to realise the ultimate principal milestone – a scalable, cost effective chemical process solution to produce battery grade LCE product for all development stages, for the joint venture and the Company.	Pg 2 & 3:  … thus the Company’s primary focus is to ensure we are fully satisfied with all our processing works to realise the principal Stage 1 milestone – to produce consistent battery grade LCE product whilst confirming the chemical process is efficient, cost effective and scalable for all development stages.
6	Off-Take	Objective:  Continued engagement with Asian and Middle East LCE end-users for potential off-take and Stage 3 investment	Highlight:  Continued engagement with Asian and other LCE end-users for potential off-take and Stage 3 investment
7		Pg 3:  … currently working to progress a preliminary off-take arrangement for Stage 1 product	Objective: Confirm Stage 1 LCE Product off-take agreement
8			Pg 8: … The Company has made significant progress on a preliminary off-take arrangement for Stage 1 product, subject to process test-works and provision of customer samples
9	Strategic Investment	Pg 3: … the Company has held several meetings with associated and other Japanese, Korean, Chinese and Middle Eastern groups to discuss Argosy’s development strategy and propositions for the Rincon Lithium Project, including the potential to consider strategic investment funding, off-take or other value-adding commercial agreements in consideration for Stage 3 development of the Project.	Pg 9: … the Company has previously held several meetings with Japanese, Korean, Chinese and Middle Eastern groups to discuss Argosy’s development strategy and propositions for the Rincon Lithium Project. The Company continues to engage such parties regarding the potential to consider strategic investment funding, off-take or other value- adding commercial agreements in consideration for Stage 3 development of the Project.
10	PEA / JORC	Objectives:- Finalise initial JORC Resource estimate- Progress works to prepare Preliminary Economic Assessment	Highlights: - Maiden Inferred Mineral Resource of 207,957 tonnes of contained LCE product calculated from results of initial eight diamond drill-holes - Resource and brine aquifer remain open at depth, with excellent scope for resource expansion from additional drilling and continued tenement acquisitions
11			Objectives: - Finalise JORC Resource estimate upgrade - Finalise Preliminary Economic Assessment report
12		Pg 6: … the Company has … decided to conduct an additional three exploration diamond drill- holes. The aim of the extra holes is to include more material in the Indicated category of the Mineral Resource estimate for the PEA. As such, the JORC Resource estimate works will be prepared in two parts … a maiden Mineral Resource estimate for Rincon, and … following the completion of the additional diamond drilling works an updated Mineral Resource estimate will be prepared in conjunction with the PEA.	Pg 5: … The Company announced its maiden JORC … 19 June 2018 … based on drilling data and brine analysis results from the initial eight brine-exploration diamond drill bores … (Updated JORC):  … as part of the hydrogeological works for the PEA report, the Company has completed an additional three diamond exploration drill-holes …. The Company is now awaiting the final laboratory analysis results from drill-holes R9 to R11 … which will be used in conjunction with other hydrogeological works to produce an updated Resource estimate, that will be reported in accordance with JORC 2012 requirements.
13		The main items of the PEA will comprise: - Hydrogeological data, with life of mine modelling, production and brine pumping parameters, mineral resources, borefield details; - Capital and operating costs; - Processing and engineering works; - Marketing analysis; - and Financial analysis.	PEA:- three exploration diamond drill-holes have been completed, and four to six shallow production wells are currently in progress … Upon finalisation of these drilling works and subsequent results, the Company’s hydrogeological consultants will be able to prepare and finalise the data for the PEA report.
14			- capital and operating costs, processing and engineering works, and preliminary financial analysis works are being conducted by the Company’s engineering consultant. Works are advanced and currently being prepared for finalisation over the coming month, pending receipt of the hydrogeological data.
15			- marketing analysis is being prepared by an international lithium market and forecast consulting company. These works are advanced and awaiting final inputs prior to being finalised and submitted into the final PEA report.
16	Ponds	Objective:  Progress construction works for additional ~24Ha of Stage 2 evaporation ponds	Objective: Complete construction works for additional ~24Ha of Stage 2 evaporation ponds
17	Stg 2 Commercial Scale Plant		Objective: Commence initial Stage 2 commercial scale processing plant development works
18			Note:  Stg 2 Plant not previously included in Quarterly Report
19	Tenements	Objective:  Execute purchase agreements for mining properties currently under option	Highlight:  Completed outright purchase of Rincon Lithium Project mining tenements previously under option, comprising a total of 2,572 hectares of significant lithium and associated infrastructure services, and mining easement right landholdings
20			Pg 4: … The Company also continues to review and assess additional mining concessions prospective for lithium to further increase the Rincon Lithium Project landholding for a larger future production base.