Argosy Minerals Limited (ASX:AGY) (OTCMKTS:ARYMF) (FRA:AM1) has joined an exclusive list of international exporters of high-quality >99.5% lithium carbonate product with a milestone first shipment from the Rincon project in Argentina.
A 5-tonne maiden cargo from the company’s industrial-scale pilot plant has been loaded onto a ship and set sail this week from Buenos Aires port.
Key development milestone
Argosy managing director Jerko Zuvela said: “This significant achievement of our first product shipment from operations at Rincon is another key development milestone for the company and confirms the marketability of our high quality >99.5% lithium carbonate product.”
This preliminary lithium carbonate (LCE) cargo is being delivered into the Sales and Purchase Agreement executed with Mitsubishi Corporation RtM Japan Ltd.
Process runs smoothly
The regulatory approvals process, and all loading and export logistics arrangements ran smoothly and to expected timeframes.
Shares have been as much as 18% higher to 6 cents, up from the 2.6 cents at close on March 23, and closed at 5.7 cents.
Zuvela said: “The company and the high-quality Puna operations team are delighted to join the exclusive list of international lithium carbonate product exporters and first from Salta Province, as we continue toward full development of our Rincon Lithium Project.”
Committed to sustainable production
Argosy is committed to building a sustainable lithium production company, highly leveraged to the forecast growth in the lithium-ion battery sector.
The company has a current 77.5% and ultimate 90% interest in the Rincon Lithium Project in Salta Province, Argentina and a 100% interest in the Tonopah Lithium Project in Nevada, USA.
Argosy’s flagship and primary area of focus is Rincon, which is potentially a game-changing proposition given its location within the world-renowned Lithium Triangle, a region that is host to the world’s largest lithium resources.
The company has a fast-track development strategy toward the production of LCE product.