EXPLORATION & DEVELOPMENT

Argosy comes up with maiden Rincon resource

ARGENTINA lithium project developer Argosy Minerals has estimated a maiden resource at its Rincon project, the second bit of positive news this week after suffering a market hiccup earlier this month.

 Argosy's resource continues laying the foundations for a lithium business in Argentina.

Argosy's resource continues laying the foundations for a lithium business in Argentina.

Rincon has been estimated to contain an inferred 207,957 tonnes of lithium carbonate equivalent, with the company claiming the resource has exceeded its expectations and has "excellent" potential to be further expanded.

Last quarter Argosy began scoping work on a commercial scale development with the company looking at defining and proving a chemical process solution for production of battery grade LCE product.

A staged development anticipates producing up to 1500t per annum before heading to full commercial operations - of as yet unidentified output.

Earlier this month Argosy concerned the marked when it said the first LCE product produced in testwork was not battery grade.

However this was suggested to be a function of timing, with the company's test plant awaiting natural gas supply in order to generate the high heat required for full processing.

Earlier this week Argosy said the mains gas supply had now been officially authorised and was being switched on.

Argosy started the current quarter with over A$14 million cash.

At 28c, shares in Argosy are now back around levels they were at before the non-battery grade LCE was reported.

Argosy was capitalised this week at $257 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.