InvestSMART

Argosy Minerals Limited (ASX:AGY)

ALERT: Price-sensitive ASX Announcement for AGY
Current share price for AGY : $0.045 -0.032 (-41.56%)+
Announcement
Release
29 Apr 2026 8:10AM
Price at Release
$0.077
Full Release
download
Summary
Argosy Minerals Limited, holding a significant stake in the Rincon Lithium Project in Argentina, is advancing its lithium production capabilities with a targeted production of 2,000 tonnes per annum. The project is part of a broader 10,000 tonnes per annum operation. Financially, Argosy is stable with $3.6 million in cash reserves as of March 2026. The company is focused on cost management and has funded development extensively. No exploration expenses were incurred this quarter, and significant payments to related parties were made. Leadership changes included the resignation of a Non-Executive Director. Argosy continues to hold a strong portfolio of tenements in both Argentina and the USA.
Key Points
  • Argosy Minerals Limited holds a 77.5% interest in the Rincon Lithium Project, with plans to increase to 90%.
  • The company is developing a production target of 2,000 tonnes per annum of battery-grade lithium carbonate, which will be part of a larger 10,000 tonnes per annum operation.
  • Argosy is focused on the fast-track development of the Rincon Lithium Project located in the 'Lithium Triangle' in Argentina, known for its significant lithium resources.
  • The company maintains strong financial health with cash reserves of approximately $3.6 million as of March 31, 2026.
  • Argosy has been managing costs and securing revenue opportunities through product sales and asset disposals to minimize net expenditure.
  • Approximately $184,000 was funded to Puna Mining for the Rincon Lithium Project, with an additional $278,000 spent directly by Argosy on development works.
  • No exploration and evaluation expenditure was reported for the quarter.
  • Payments made to related parties were disclosed, amounting to $167,000 and $52,000 for director fees and consultancy services.
  • Mr. Peter De Leo resigned as Non-Executive Director during the quarter.
  • The company has a comprehensive schedule of tenements in Argentina and USA.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.