Argosy Minerals (ASX:AGY) has announced further development of its Rincon lithium project located in the Lithium Triangle in Argentina, where stage 2 works are nearly completed.
On completion, stage 2 of the project will result in about 10 hectares of evaporation ponds for lithium brine which will produce a concentrate that can be further processed into a battery-grade lithium carbonate equivalent (LCE).
With its stage 1 ponds already constructed, the company expects to produce its first product by the end of the March 2018 quarter, with testing to commence by the end of the year.
The plant has scheduled capacity of up to 500 tonnes per annum of the LCE product from its first production.
The company also announced today it has successfully obtained all orders sought at the Federal Court hearing yesterday in relation to its prospectus dated 17 October 2017.
Shares in Argosy Minerals (ASX:AGY) have been on a trading halt which has been lifted today and are trading 8.7 per cent higher to 25 cents a share.