Argosy Minerals (ASX:AGY) announced in its quarterly report to September the mining company is on target to reach its first battery grade lithium carbonate project planned for the March 2018 quarter.
The lithium miner successfully completed a $17 million capital raising for the LCE project.
Drilling has commenced and stage 2 development has progressed in the lithium triangle in Argentina as it continues to fast-track development of its Rincon Lithium Project.
The company also acquired additional land at the Rincoin project with two new tenements.
The company also has an in-principle agreement with its project partners to move to 77.5 per cent ownership in the joint venture earlier than expected.
Shares in Argosy Minerals (ASX:AGY) closed 2.17 per cent lower to 23 cents a share.