Hey Banksy et al,
ASX rules don't allow a listed company to formally release project economics (PFS/DFS) until a JORC is completed/signed off on.
As mentioned above, brine is a fluid/hydrogeological resource and numerous factors come into play with regards to porosity, flow rates, replenishment etc so it is a very complex process to provide an accurate estimation.
Here is a copy/paste from a competent person/resource estimation geologist's reply to a similar query:
Brine projects are different to other commodities because they are in solution which is mobile as opposed to rock or sediment which is fixed. This means as you draw from a well, you are pulling solution from the surrounding area, potentially outside of the lease. What this means is that estimated resource numbers are fairly meaningless in the traditional sense. Most people in the market don't understand this and expect a resource announced because they think that's the normal process. I can tell you that defining a resource is really just to appease the uneducated. The science behind the chemical process is much more important in this case and that is where the value lies. Argosy have gone about this in exactly the right way and the proof is in their success to date. Hope this helps.
The extensive historical studies on Rincon and Pablo's knowledge / 30yrs experience in lithium processing are the key elements that have resulted in AGY fast-tracking production within 18 months of announcing the JV. Pablo was tired of working for multi-nationals and getting d!cked around so decided it was time for him (& son) to head up their own project and partner with a company that had the ability to support their vision and project.
As Onspeed stated, a successful chemical process is THE critical factor in whether a lithium brine project can produce the desired end product. With the Stage 1 plant recently commissioned this is the milestone we have all been waiting for > confirming the company can produce top spec lithium carbonate.
Re: Project economics - the company announced about 6 weeks ago they are working on a Preliminary Economic Assessment (PEA) which I'm guessing will be released before the end of next month.
In the meantime, some worthwhile reading can be found in the fundamentals thread or via Spinc's link which contains most of the worthwhile info...
Other pieces of info (third party) worth reading:
Enirgi's DFS summary:
http://www.marketwired.com/press-re...easibility-study-salar-del-rincon-2140673.htm
Patterson's site visit report:
http://www.argosyminerals.com.au/sites/default/files/broker_research_file/agy-20180919.pdf
Patterson's Set17 coverage:
http://www.argosyminerals.com.au/sites/default/files/broker_research_file/agy-20170901.pdf
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