Argosy Minerals Limited (ASX: AGY) informed the market that the group has successfully produced initial “battery grade” of lithium carbonate product from its stage 1 plant at the Rincon lithium project, located in Salta Province, Argentina. In which, the company has completed an efficient production of 30 kilograms of LCE product and recorded 99.6% of the content value of a Lithium Carbonate (Li2CO3) during in-house testing. The LCE product will now be prepared for customer samples for their own quality confirmation and testing and sent to end-user customers.
According to the management, the group has achieved a remarkable success from its Stage 1 plant in the capacity of 500 tonnes per annum (tpa) and expects that the completed process test-works phase to date will form the basis to further improve and optimise the production process for subsequent commercial sales and substantiate the Stage 2 and Stage 3 commercial plant designs.
With this news, the stock scaled up 61.11 per cent with the intra-trading volume of more than 18 Mn. The stock traded at $0.29 with the market-cap of circa $165.33 Mn as on August 06, 2018 (AEST - 3:30 P.M.).
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