F**k hell Rob, Look at my new toy! Puna Mining, a joint venture...

F**k hell Rob, Look at my new toy!

Puna Mining, a joint venture with Argosy Minerals Ltd., has not yet sold its lithium inventory for several reasons:

1. Operational Improvements: Puna Mining is actively working on operational enhancements at its 2,000tpa lithium carbonate facility. They are addressing equipment performance issues in the primary solids filtration circuit to improve filtration rates. These modifications are essential for continuous production operations¹.

2. Expansion Plans: Puna Mining is also preparing for a significant expansion. They are conducting pre-development works for a 10,000tpa operation. This includes scope definition, conceptual engineering, contractor evaluation, and selection. The goal is to ensure operational readiness for the construction of the larger facility¹.

3. Environmental Approvals: The company is engaging with regulatory authorities to expedite the Environmental Impact Assessment (EIA) process for the 10,000tpa operation. Once approved, they can proceed with scaling up production.

4. Market Dynamics: The lithium market has seen fluctuations. During the last quarter, lithium prices softened due to product destocking and reduced demand from battery cell manufacturers. Puna Mining may be strategically waiting for better market conditions before selling its inventory.

In summary, Puna Mining’s focus on operational improvements, expansion plans, regulatory approvals, and market dynamics contribute to their decision not to sell their lithium inventory immediately.