Hot off the press - AGY related media, page-153

Worth the FULL re-print. (no one clicks on links...this is the land of NOT DYOR)

http://www.*.com.au/companies/news/...rging-as-capital-raising-outlined-185087.html

Argosy Minerals shares surging as capital raising outlined

13:26 05 Oct 2017
Shares in Argosy have more than doubled over the past month to $0.295.
http://static2.*.com.au/thumbs/upload/Article/Image/2017_10/757z468_1507170803_argosy-minerals_stage-2-contruction-works-757.jpg
The Rincon Project is located in Argentina's world-class lithium triangle

Argosy Minerals (ASX:AGY) has received commitments to raise $15 million through the placement of shares to institutional and sophisticated investors priced at $0.22.
The heavily oversubscribed placement will be followed by a share purchase plan (SPP) targeting a further $2 million.

The fast-tracked development of Rincon Lithium Project remains on-track with the first battery grade lithium carbonate equivalent product on schedule for March 2018 quarter.
Jerko Zuvela, managing director, commented: “We took the opportunity provided by strong institutional and sophisticated investor interest in Argosy to raise development capital on terms substantially better than those under the previously proposed Qianyun placement and without being subject to complex and time consuming Chinese regulatory approvals.

“At the same time, our acceleration of Stage 2 development at Rincon earlier than previously anticipated has been recognised by our partners, with their in-principle agreement to accelerate the Company’s move to 77.5% ownership of the Rincon Lithium Project.”
Moving to 77.5% ownership

In recognition of the accelerated commencement of Stage 2 development at Rincon, Argosy has reached an in-principle agreement for an early move to a 77.5% interest in Puna Mining S.A. – the JV entity that owns the Rincon Lithium Project.
This confirms the strong working relationship between Argosy and its joint venture partners, namely lithium processing expert Pablo Alurralde.
The company expects to formalise the in-principle agreement in the near future.
Placement replaces original Qianyun placement

The placement is being undertaken in place of the proposed August placement to Qingdao Qianyun High-tech New Material Co. Ltd.
As it became clear that certain conditions precedent to the Qianyun placement would not be satisfied by their relevant expiry date, Argosy determined that the placement to institutional and sophisticated investors was preferred.

Preliminary and long-term off-take agreements with Qianyun remain in place.