gold stocks postpage LB desk

Argosy Minerals Ltd.’s Shares Mounted on ASX After Acquiring Three Additional Tenements

  • November 09, 2018 06:11 AM AEDT
  • Team Kalkine
Argosy Minerals Ltd.’s Shares Mounted on ASX After Acquiring Three Additional Tenements

On 9 November 2018, Argosy Minerals Limited (ASX: AGY) announced that it has executed separate binding Purchase Agreements with Ricardo Salome Guitian, Hernan Omar Viveros, Daniel Viveros, and Martin Viveros to acquire 3 additional tenements – Mina San Jose, Mina Jujuy, and Mina San Marcos. The additional three tenements are comprised of total tenement area of 209.5 hectares for the Rincon Lithium Project in Salta Province, Argentina. Following this news, the share price of the company increased by 7.317 percent with a market capitalization of $189.32 million as on 9 November 2018.Â

non AMP MTF 10th feb webinar

The company will be paying a combined total purchase fee of approximately US$538,702 after the successful completion of due diligence works and associated regulatory requirements, for the outright purchase of the three mining titles. As per the recent announcement, Mina Jujuy and San Marcos adjoin the Company’s Mina Tincal tenement, allowing the Company to join these tenements into the Mining Group status for the purposes of regulatory applications for exploitation permits which are especially important for future potential commercial lithium brine pumping operations. Further, Mina San Marcos includes an additional 12-hectare mining easement located nearby the tenement within the Salar del Rincon.

As per Company’s Managing Director Mr. Jerko Zuvela, these strategic and highly prospective tenements provide increased scale for future potential commercial operations, which will be highlighted by the long-term mine-life estimates currently being prepared as part of the PEA works.

The Rincon Lithium Project is now comprised of 2,794.4 hectares of significant lithium and associated infrastructure services/mining easement landholdings for future Stage 3 development and commercial production operations. Now that the acquisition agreements have been completed, the Company will prepare to finalize the JORC Mineral Resource and PEA.

In the recently released September quarter activities report, the company reported that it has initiated the work to prepare the JORC Mineral Resource estimate upgrade and Preliminary Economic Assessment (PEA) and it has made further progress with Stage 2 evaporation pond construction works. During the September quarter, the Company also achieved its principal Stage 1 milestone through successful processing works to confirm a scalable chemical process solution to produce battery quality lithium carbonate product for future development stages at the Rincon Lithium Project.

In the September quarter, Argosy Minerals completed all drilling works necessary for the JORC Resource estimate upgrade and PEA, which is comprised of 21 drill-holes. During the Quarter, the Company also confirmed that it has completed the construction and lining of an additional 9-hectare evaporation pond, complementing the existing ~10ha of operational evaporation ponds completed in January 2018. In the September quarter, the net cash used in operating activities was $3.15 million and Cash and cash equivalents at end of the period was $4.95 million.

In the last six months, the share price of the company decreased by 31.67 percent as on 8 November 2018. AGY’s shares traded at $0.220 with a market capitalization of circa $189.32 million as on 9 November 2018 (AEST 4:00 PM).


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.




The website is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK