Shares in Argosy Minerals soared this morning after the aspiring lithium producer announced it had produced battery-grade lithium carbonate at its Rincon lithium project in Argentina.
Argosy said it had made arrangements to provide samples of its 99.6 per cent product to potential customers and said it was progressing offtake discussions with “major international groups”.
Managing director Jerko Zuvela said he believed the company’s chemical process pathway was efficient and scalable and boded well for the continued development of stages two and three of Rincon.
Argosy said its stage one focus remained producing consistent battery-grade lithium carbonate product for ongoing operations while also confirming the chemical process was efficient, cost effective and scalable for all development stages.
The Mal Randall-chaired company holds a 77.5 per cent stake in the Rincon project which lies in the Salta province in the so-called lithium triangle.
Mr Zuvela is expected to present at the annual Diggers and Dealers mining forum in Kalgoorlie later today.
Argosy shares were up 8¢, or 34 per cent, to 26¢ at 11.10am after touching an earlier high of 27¢.
The company’s shares were smashed in June when it announced it had produced industrial grade, as opposed to the higher value battery-grade lithium carbonate product as had been expected.