Argosy Minerals Limited
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What Pre-Development Works Are Underway for the 10,000tpa Expansion at Rincon Lithium Project?
Argosy Minerals Limited Progress Update on Rincon Lithium Project
Argosy Minerals Limited (ASX: AGY), a key player in the lithium market, has provided a comprehensive progress update on its Rincon Lithium Project. This development update sheds light on various aspects of the project, including operational improvements, environmental impact assessments, resource expansion, and future expansion plans.
Enhancing Filtration Efficiency
Argosy's focus on its 2,000tpa lithium carbonate facility continues, with significant efforts directed at improving filtration rates. To achieve this, the company has undertaken a series of measures, including the delivery and installation of new filter cloths. These improvements are critical for ensuring consistent and repeatable production results.
Testing and Optimization
Currently, the company is engaged in comprehensive test works. These tests involve varying flowrates and filter press plate configurations to assess the effectiveness of the newly installed cloths.
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The ultimate goal is to determine the optimal operational parameters that will lead to enhanced filtration rates.
Production Ramp-Up
Once the test phase is successfully completed, Argosy intends to ramp up production operations. The company is also actively receiving ancillary parts and equipment for necessary modifications to the chemical preparation area. This demonstrates a commitment to improving overall operational efficiency.
Critical Works Schedule
Argosy is committed to a planned critical works schedule aimed at improving the performance of the 2,000tpa facility. The company's target is to increase production operations by the first quarter of 2024. However, it's important to note that while these improvements are underway, production output remains constrained.
Pond Harvesting
In a positive development, the company has completed the current-cycle pond harvesting works. This achievement allows for increased pond utilization and a subsequent increase in the production of concentrated lithium brine.
10,000tpa Environmental Impact Assessment Process
Argosy has made substantial progress in finalizing the Environmental Impact Assessment (EIA) process for its 10,000tpa operation expansion. The company has provided updated hydrogeological data observations to the Mining Secretary's department, and discussions with key government officials have been productive. As a result, official approval from the Mining Secretary is expected in the near future.
Resource Expansion Upgrade
Argosy has successfully completed its resource expansion exploration diamond drilling works program. All laboratory results are in, and the company is working with an independent hydrogeologist to finalize the technical report for the upgraded brine Mineral Resource Estimate. This upgrade reflects the company's commitment to expanding its lithium resources.
10,000tpa Operation Expansion Pre-Development Works
In anticipation of regulatory approval for the 10,000tpa operation expansion, Argosy is actively progressing pre-development works. These include thorough process design reviews, evaporation pond design and engineering, industrial water drilling operations, and engagement with an Engineering, Procurement, Construction, and Management (EPCM) service provider. These preparations will ensure a seamless transition into the development phase of the 10,000tpa facility upon receiving the necessary regulatory approvals.
Argosy Managing Director, Jerko Zuvela, expressed optimism about the company's progress. He highlighted the ongoing efforts to achieve continuous production operations at the 2,000tpa lithium carbonate facility. Additionally, he acknowledged the significant advancements in the EIA approval process, with an imminent outcome expected.
The readiness of the resource expansion upgrade and upcoming milestones in the project's development phase underscore Argosy's commitment to growth and success in the lithium sector. As the company continues to work toward these milestones, it positions itself for a promising future in the Rincon Lithium Project.
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