Argosy Minerals Progresses 12,000tpa Rincon Lithium Project
Key points
- Progressing 12,000tpa project development engineering and feasibility works
- Executed 40MW energy infrastructure agreement to power Rincon Lithium Project
- Completed successful $2m placement to support project development
Full summary
Argosy Minerals Limited continued development works at the Rincon Lithium Project in Argentina, and owns the Tonopah Lithium Project in Nevada, USA, achieving significant milestones at Rincon during the Quarter. The Company is progressing the 12,000tpa project engineering and feasibility works to achieve a final investment decision, support the strategic partner and funding process, and to ultimately develop and successfully commercialise the Rincon Lithium Project. The Company has executed an agreement with the Salta Electricity Distribution Company S.A. (EDESA) to complete detailed engineering and feasibility works to develop energy infrastructure capable of supplying up to 40MW of energy to the Rincon Project. The Company is progressing to ensure the most effective pathway to secure a strategic group to provide direct and/or indirect investment support for the 12ktpa project development. The Company conducted a placement to raise $2 million to support priority initiatives, including the ongoing 12ktpa Rincon engineering/optimisation and feasibility development works, strategic plans for the Tonopah Lithium Project in USA, exploring other opportunities, working capital and corporate requirements.
Guidance
The Company is progressing the 12,000tpa project engineering and feasibility works to achieve a final investment decision and support the strategic partner and funding process.
Outlook
Argosy is committed to developing the 12,000tpa Rincon Lithium Project, utilising engineering services companies and consultants to conduct the engineering and feasibility works to deliver the Definitive Feasibility Study and Front-End Engineering Design, and progress to secure a strategic partner to provide direct and/or indirect investment support for the 12ktpa project development.
Summary generated by a large language model. Please interpret with care.