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Argosy Minerals Reports Strong Progress Across Lithium Operations — ASX:AGY| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$AGY
Argosy Minerals Reports Strong Progress Across Lithium Operations
Argosy Minerals Limited has released its quarterly report covering June 2023, where it highlighted significant milestones achieved in the Tonopah Lithium Project in Nevada and the Rincon Lithium Project in Argentina, as it progresses toward commercial production of battery quality lithium carbonate.
Rincon Lithium Project Achievements
Argosy Minerals Limited has successfully completed 24-hour trials of continuous operations and generated approximately 20 tonnes of battery quality lithium carbonate product to date. The company continues to commission the 2,000tpa facility, finalising standard plant commissioning processes. The project is on target to achieve complete production operations during H2-CY2023, offering lucrative sales of product to international lithium markets.
Regulatory approval for the 10,000tpa expansion operation is undergoing the Environmental Impact Assessment process. The company has made significant progress in updating the EIA works process and expects formal approval notice from the Mining Secretary shortly. Pre-development works for the 10,000tpa operation, including engineering and design, procurement, and recruitment,
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are in progress.
Strong Financial Position
Argosy Minerals Limited is prioritising the 2,000tpa operation, as it progresses towards battery quality lithium carbonate production and achieves uninterrupted production operations. The results are supported by a robust financial position, evidenced by cash reserves of approximately $23.5 million at the end of Q2-2023.
Positive Outlook in the Lithium Market
Being only the 2nd ASX-listed battery quality lithium carbonate producer, Argosy Minerals Limited is drawing on the optimistic outlook of the lithium market. Strong international lithium carbonate prices underpin positive market sentiment, providing an opportunity to realise its ambitious lithium production development strategy.
Argosy Minerals Limited continues to make progress on securing funding and long-term off-take arrangements for its 10,000tpa expansion plan, aiming for a tier-1 counterparty in the EV supply chain. The progress indicates that Argosy is well-positioned to materially expand current JORC Indicated Resources, increase project mine-life, and boost future annual production capacity. With a sustainable expansion plan, Argosy is set to become one of the leading contenders in the lithium market.
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L
Lykeshares
132d
Official
Berkshire is hoarding so. much. cash.
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Lykeshares
132d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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Lykeshares
163d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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L
Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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