AGY argosy minerals limited

I've updated my project summary to include the latest ANN's. I...

  1. 732 Posts.
    lightbulb Created with Sketch.  312
    I've updated my project summary to include the latest ANN's.

    I feel like we're on the cusp of a new phase in AGY's SP cycle, and forthcoming news has the potential to launch AGY from "go'nna do it", to "we are doing it".

    So anyone looking into AGY for the first time, might find this useful.... as well as checking out @Onspeed's original post at the start of this thread https://hotcopper.com.au/posts/32193955/single

    As usual, please let me know if there's any errors, or any suggestions for additional info.


    Column 1 Column 2 Column 3
    0
    Detail
    Source Material
    1 As of:
    Friday, 13 April 2018

    2
    Company Overview
    AGY is an Australian company based in Perth committed to building a sustainable lithium production company, highly leveraged to growth in the lithium-ion battery sector.
    AGY webpage: http://www.argosyminerals.com.au
    3
    S&P 500:  AGY joined the All Ords effective from 19 Mar 2018
    ANN 09-03-2018:  S&P Dow Jones Indices Announces March 2018 Quarterly Rebalance: https://www.asx.com.au/asxpdf/20180309/pdf/43s9c4xfsrvf0v.pdf
    4
    2017 Annual Report
    ANN 29-03-2018:  Annual Report: https://www.asx.com.au/asxpdf/20180329/pdf/43sv2l0qv4xs5d.pdf
    5
    2018 AGM:  Monday 14 May
    ANN 13-04-2018:  Notice of AGM: https://www.asx.com.au/asxpdf/20180413/pdf/43t5x22kywbtyk.pdf
    6 Project Overview
    The Rincon Project is owned by a JV entity; Puna Mining S.A.  As of 27-02-2018, AGY has a 77.5% interest in Puna Mining S.A. (with further rights to earn up to 90%).  JV partners are Mr Pablo Alurralde and Mr Francisco Mendendez.  Mr Alurralde is the lithium processing expert managing the project on the ground in Argentina.
    Ann 27-02-2018: Argosy Completes Increase in Rincon JV Ownership to 77.5% https://www.asx.com.au/asxpdf/20180227/pdf/43rz407vtfszgc.pdf
    7
    AGY’s Rincon project is brine lithium (ie not hard rock lithium) within the Salar del Rincon in Salta Province, Argentina.
    For an overview of Lithium Brine see http://www.srk.com.au/sites/default/files/SRK_AU_Lithium_Brines_Presentation_-_August_2016.pdf.  Credit to @MarketingMan
    8
    Land area comprises up to 2,561.9ha, including binding option for Mina Tincal announced Nov 2017.  Project land area comprises significant lithium and associated infrastructure services and mining easement right landholdings to be equiped for future Stg 3 development and commercial production.
    ANN 14-11-2017:  Strategic Acquisition for Rincon Project https://www.asx.com.au/asxpdf/20171114/pdf/43p6fflj4bsyrz.pdf
    9 Evaporation ponds


    10
    Stg 1: 1ha  -  concentrating since Apr 2017 and at a suitable lithium concentration level to provide the first feedstock for Stg 1 Plant initial operations.
    ANN 15-03-2018:  Approval Granted for Development of Additional Stg 2 Ponds https://www.asx.com.au/asxpdf/20180315/pdf/43sgcdx7wnj8rw.pdf
    11
    Stg 2.1: ~10ha  -  nine ponds concentrating since Jan 2018
    ANN 20-12-2017: Rincon Update - Lithium Brine in Stage 2 Ponds: https://www.asx.com.au/asxpdf/20171220/pdf/43qb6q9f7nj301.pdf
    12

    For satellite time lapse image of Stg 2.1 pond construction see AGY tweet of 12-03-2018: https://twitter.com/ArgosyMinerals/status/973046627169521664
    13

    For satellite image of Stg1 and Stg 2 ponds taken 10-02-2018, see https://hotcopper.com.au/posts/31049614/single.  Credit to @spinc
    14
    Stg 2.2: ~24ha - Formal regulatory approval granted Mar 2018 to construct a further 8 evaporation ponds, resulting in combined total of ~34ha Stg 2 operable ponds.
    ANN 15-03-2018:  Approval Granted for Development of Additional Stg 2 Ponds: https://www.asx.com.au/asxpdf/20180315/pdf/43sgcdx7wnj8rw.pdf
    15

    For tweet showing “postcard” from Rincon of pond construction: https://twitter.com/ArgosyMinerals/status/978801751334838274

    16
    Stg 3: Mina Romulo acquired in Aug 2017 (binding option expireing 15-03-2018) specifically for Stg 3 development requirements.  Stg 3 may entail up to ~300ha evap ponds and a large scale plant.   Refer Third Party Agreements for additional information
    ANN 23-08-2017:  More Ground for Rincon Lithium Project: https://www.asx.com.au/asxpdf/20170823/pdf/43ln7z8hl42z8r.pdf
    17

    For a post on pond processes, see https://hotcopper.com.au/posts/31144681/single.  Credit to @BytheHoarns,
    18 LCE processing plants


    19
    Stg 1: Plant with 500 t/pa - fully owned industrial warehouse, including lab equipment for in-house analysis testing. Apr 2018: Pilot Plant commissioning and test-works commenced targeting a scalable, cost effective chemical process solution to produce BG LCE product
    ANN 03-04-2018: Rincon Stage 1 Plant Operational: https://www.asx.com.au/asxpdf/20180403/pdf/43swnthqp62lrt.pdf
    20

    ANN 30-01-2018:  Quarterly Activities Report - Dec 2017:
    https://www.asx.com.au/asxpdf/20180130/pdf/43r492d79wn3j0.pdf
    21
    Stg 2: Plant with 1,500 t/pa  -  located at Olcapato (~31ha mining easement right), including processing brine from additional ~24ha Stg 2.2 ponds.As of 23 Feb 2018, larger scale pilot plant designed, development to commence in Q2 2018.
    ANN 23-02-2018:  BMO Conference Presentation: https://www.asx.com.au/asxpdf/20180223/pdf/43rwdc5m8jq21t.pdf
    22

    ANN 24-11-2017:  Argosy Moves to Complete Option Purchase: https://www.asx.com.au/asxpdf/20171124/pdf/43pjv2p7pvxd07.pdf
    23
    Stg 3: Mina Romulo acquired in Aug 2017 specifically for Stg 3 development requirements.  Stg 3 may entail up to ~300ha evap ponds and a large scale plant.
    ANN 23-08-2017:  More Ground for Rincon Lithium Project: https://www.asx.com.au/asxpdf/20170823/pdf/43ln7z8hl42z8r.pdf
    24 Exploration Diamond Drilling Program
    7 out of 8 holes completed to 102.5m (R1 - R5, R7, R8).
    ANN 13-02-2018: Rincon Project Drilling Update: https://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
    25
    R6 in progress.  Targeting 200m (currently at 70m)

    26 Production Well Drilling Program
    Well 1 completed Dec 2017 to 100m (located near R2 and pumping brine to Stg 2 ponds)
    ANN 13-02-2018: Rincon Project Drilling Update: https://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
    27
    Well 2 completed to 36m (located near R1)

    28
    Well 3 planned in vicinity of R4.

    29 Initial Exploration Results
    Results continue to reveal better than previously anticipated lithium content over a thicker brine-bearing zone, together with better average Mg/Li ratios from historical reference data.  Avg results below:
    ANN 13-02-2018: Rincon Project Drilling Update: https://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
    30
    R1: 385  mg/Li, 7.6 Mg/Li  (Production Well 2 location)

    31
    R2: 487  mg/Li, 4.3 Mg/Li  (Production Well 1 location)

    32
    R3: 229  mg/Li,  6.1 Mg/Li

    33
    R4:  446  mg/Li, 8.2 Mg/Li  (Planned location for Production Well 3)

    34
    R5:  267  mg/Li, 7.9 Mg/Li

    35
    R6:  not yet available

    36
    R7:  not yet available

    37
    R8: 283  mg/Li, 7.6 Mg/Li

    38
    Pablo Alurralde commented “The drilling results have confirmed greater brine bearing thickness and confirmation of a thick sequence of black sand in the Project area is very positive for future brine extraction requirements. Overall, our progress to date is extremely encouraging and I look forward to meeting our development milestones.”
    For a post on the formation of lithium-rich brines, see https://hotcopper.com.au/posts/31147891/single credit @Aussieplotz,
    39 JORC
    JORC will be prepared in two partsart 1 utilising current drilling data for maiden Mineral Resource and then Part 2 following completion of 2 additional diamond drilling works currently in progress (an updated Mineral Resource will be prepared in conjunction with the PEA).
    ANN 26-03-2018: Rincon Lithium Project Update: https://www.asx.com.au/asxpdf/20180326/pdf/43sqf7x0p9ct9n.pdf
    40 Preliminary Economic Assessment (PEA/Scoping Study)
    - PEA works on-going, will comprise:   - Hydrogeological data, with life of mine modelling, production and brine pumping parameters, mineral resources, borefield details;   - Capital and operating costs   - Processing and engineering works   - Financial analysis   - Marketing analysis
    ANN 26-03-2018: Rincon Lithium Project Update: https://www.asx.com.au/asxpdf/20180326/pdf/43sqf7x0p9ct9n.pdf
    41 Project funding
    As of Jan 2018; fully funded to first production
    ANN 30-01-2018:  Quarterly Activities Report - Dec 2017:
    https://www.asx.com.au/asxpdf/20180130/pdf/43r492d79wn3j0.pdf
    42 Off-Take Agreements
    Arrangements have been made with a number of international cathode and battery industry participants to supply BG LCE samples for their own quality testing.  Samples expected to be delivered over April and May to Japan, Korea and China.Additionally, AGY arranging to sell surplus LCE product produced during test-work commissioning of Pilot Plant.
    ANN 26-03-2018: Rincon Lithium Project Update: https://www.asx.com.au/asxpdf/20180326/pdf/43sqf7x0p9ct9n.pdf
    43 Third Party Agreements
    Continued discussion with Asian lithium battery sector companies, including potential for investment funding, off-take or other value-adding commercial agreements in consideration for Stg 3 development.
    ANN 30-01-2018:  Quarterly Activities Report - Dec 2017:
    https://www.asx.com.au/asxpdf/20180130/pdf/43r492d79wn3j0.pdf
    44 Rainfall
    Weather station data available from Energi group site, located at the top (northern) edge of the Solar del Rincon: http://adyargentina.com.ar/rincon/
    https://hotcopper.com.au/posts/30953626/single, credit to @Cassandra
    45
    “Mean Annual Precipitation 63mm (page 9-13)” sourced from “Review of four Lithium Exploration Properties in Argentina”
    31-12-2016 Review of four Lithium Exploration Properties in Argentinahttps://s21.q4cdn.com/429708605/files/doc_downloads/report-for-ni-43-101-dated-december-31st-2016.pdf , credit to @beachmat
    46
    12-08-2017:  Pocitos weather station (20k from Rincon and 400m lower elevation) rained 94.23mm over last 365 days
    https://hotcopper.com.au/posts/26461599/single, credit to @georgecostanza
    47 Evaporation Rate
    "The evaporation rate through November was excellent, with most days having clear blue skies and averaging ~10mm evaporation per day."
    ANN 20-12-2017: Rincon Update - Lithium Brine in Stage 2 Ponds https://www.asx.com.au/asxpdf/20171220/pdf/43qb6q9f7nj301.pdf
    48
    12-08-2017:  Average water evap rate of 8.4mm/day
    https://hotcopper.com.au/posts/26461599/single, credit to @georgecostanza


    NB:  My favourite link in the table is the time lapse tweet showing construction of the Stg 2.1 ponds...  so it gets an extra inclusion here
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.