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AGY, ARGOSY MINERALS LIMITED
blacksheep
post Posted: Jun 6 2018, 01:03 PM
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CLARIFICATION ANNOUNCEMENT: ARGOSY CONFIRMS FIRST BATCH OF LCE PRODUCED
QUOTE
The following are the questions of note and the Company’s response:
1. Why was a trading halt required for the 5 June announcement?
The initial lithium carbonate (“LCE”) was produced at the Company’s Stage 1 industrial
scale pilot plant in Argentina on the afternoon of Thursday 31 May. It was clear to Argosy
that this was a material event. However, time was required to conduct a first-pass lab
analysis and then subsequent check analysis to determine the product quality. Hence the
time taken during the halt whilst the first information was known but the critical detail was
still being gathered.
2. Why was the issue with a mains natural gas connection not previously disclosed?
Argosy has always planned for a natural gas connection for the Stage 1 industrial scale
plant. However, a ‘work around’ solution to use a tank gas supply was also assembled. It
was believed this would still be able to be used to produce battery grade quality LCE until
mains gas was switched on, albeit on a less efficient basis. However, it became clear
towards the end of last week that the tank gas solution would not provide enough direct
heat for enough time on a stable basis for one particular stage of production to have full
effect. In that regard, the Company announced the mains natural gas supply issue as soon
as it became aware.
3. Why is the initial sample size small?
Without the key mains gas reliant stage operating to full effect, the Company cannot
complete the last three plant stages on an industrial scale for now (ie, because they flow on
from the stage that is not achieving its targeted outcome). As a result, Argosy took a
sample from the larger body of the plant material prior to that stage and manually worked
the finishing process to establish current product specification available. The 1kg sample
referred to in the 5 June announcement is a subset of the material that had progressed
through all the prior stages of plant operation.
4. What exactly has Argosy produced?
The material sampled is expected to meet 'battery grade' specification in terms of key
deleterious elements, but there is some solvent remaining (together with soluble impurities)
that has not been washed out properly, meaning the initial batch of LCE produced
is ‘industrial grade'. Argosy is extremely happy with the outcome regarding key ‘difficult
to remove’ elements such as Mg, SO4 and metallic impurities, and the Company is
confident the remaining product washing issue is solvable once mains natural gas is
available.
5. What is the status of the mains natural gas and how long until it is switched on?
The mains natural gas pipeline has been physically extended across the road to the plant
site and all the meters / connections have been installed. Argosy is currently awaiting
Gasnor S.A. (the gas distributor in Salta Province) to complete its final inspection and issue its
approval to initiate supply via the connection. Given that the process is reliant on Gasnor’s
actions, the Company cannot provide a hard timeline, but is pushing as hard as possible to
have it done quickly. Argosy will make an ASX announcement as soon as the gas supply is
switched on.
6. What is the timing on the JORC Resource estimate and Stage 1 off take agreement?
Both of these items are dependent on third parties. The JORC Resource is being prepared
by an external independent hydrogeological consultant and the initial off take is
dependent on the key potential initial customer finalising internal processes related to final
negotiation and approval of the agreement. These items are very much nearing
completion but the Company cannot put a hard timeline on them given they require
outputs from third parties. However, they are a key focus for Argosy and the Company will
make an ASX announcement as soon as either or both of these items are completed.
7. What’s the current price difference between ‘industrial grade’ and ‘battery grade’ LCE?
Whilst the Company is 100% focused on producing battery grade LCE, we don’t want
stakeholders to get too side-tracked by the fact the initial sample was industrial grade,
however we note that current estimated North Asia CIF battery grade LCE prices are in the
range of ~US$15,000-17,000/t and industrial grade in the estimated range of ~US$12,000-
14,000/t.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 9 2017, 04:42 PM
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First Lithium concentrate brine expected early 2018

https://smallcaps.com.au/argosy-minerals-li...te-rincon-2018/





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Oct 13 2017, 11:14 AM
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In Reply To: nipper's post @ Oct 12 2017, 01:04 PM

The original placement was @ 22c - today they have announced a "revised" issue price @ 18c, but , but but, it received strong interest from SOF's - no doubt when you consider the last traded price was 25.5c. Back trading and currently down 10%

QUOTE
Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to advise that, further
to its announcement on 5 October 2017 ($15m Placement and Acceleration of Rincon EarnIn),
the Company has successfully raised $15 million following strong interest from institutional
and sophisticated investors, at a revised issue price of $0.18 per share (“Placement”)


QUOTE
$15M Placement to institutional and sophisticated investors at $0.22 per share and
$2M Share Purchase Plan to replace previously announced 19.9% placement to
Qianyun

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Oct 12 2017, 01:04 PM
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TH flagging potential dispute with Chinese offtake partner



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 18 2017, 11:03 AM
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SP took off yesterday - and up again 8.33% today - on the news (below). "Placement of shares to Qianyun representing 19.9% of the issued capital of Argosy
at an issue price of $0.085 per share" - current SP is 13c and probably being pumped by day traders.

Joe Lowry, the "global lithium expert" doesn't seem that impressed and suggests in a tweet

QUOTE
Joe Lowry‏
@globallithium
Follow
More
A great illustration of what a 3rd tier #lithium deal looks like. Only the 1st and 2nd tier survive long term.


QUOTE
ARGOSY EXECUTES INVESTMENT & OFF-TAKE AGREEMENTS
HIGHLIGHTS
Argosy executes binding investment and off-take agreements with fast-growing
Chinese battery company Qingdao Qianyun High-tech New Material Co. Ltd.

Transaction includes A$26.4M to be received upfront through an equity placement
and prepayment under a 1-year preliminary off-take agreement

Upfront A$26.4M exceeds Stage 2 development expenditure budget for the Rincon
Lithium Project

Cornerstone shareholding at a premium combined with long-term off-take
validates Argosy’s strategy to develop Rincon into a commercial lithium project

Argosy to consider additional cooperation with Qianyun for funding proposed
Stage 3 development of Rincon Lithium Project

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
StockholmRod
post Posted: Jul 18 2007, 04:47 PM
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In reply to: JC10 on Wednesday 18/07/07 03:19pm

Argosy [and its earlier incantation; was it "Dome Resources"] has an amazing track record in promoting blue-sky high risk-high return projects all around the globe.

Nickel in The Pacific, diamonds in South Africa, nickel again in Burundi...the risk is manifest in who the company chooses to partner with, an unstable domestic political situation or just a plain "trust us" appeal to speculative investors who buy into the potential RETURN when the RISK, and project disappointment, is inbuilt and set to triumph from the get-go.

Ups. Downs, Swings and Roundabouts...when all you really need is a 10 foot pole.

 


JC10
post Posted: Jul 18 2007, 03:19 PM
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In reply to: JC10 on Monday 09/07/07 01:38pm

Anyone with any comments on AGY. up 35% yesterday and continue today to 21%.


 
JC10
post Posted: Jul 9 2007, 01:38 PM
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Hey, AGY is taking off back again today? priced up 18% at around 1 pm...any news coming up?

 
Christopher
post Posted: Jun 21 2007, 09:23 PM
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In reply to: BSA on Thursday 21/06/07 12:25pm

got out for a surprisingly good 40c - so down only 60K! To survive another day.

As someone said on another site - shares are no different from property - position position position. Burundi is clearly not a good position.

 
BSA
post Posted: Jun 21 2007, 12:25 PM
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QUOTE (JC10 @ Thursday 21/06/07 11:11am)

Ouchie ya ya!! sorry to any holders, thats not a nice start for the day,...just goes to show that no matter how sweet the chart looks events come out of left field weirdsmiley.gif



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