Argosy Minerals' shares rally on lithium development strategy in Argentina
Monday, 14 August 2017 () Argosy Minerals Ltd's (ASX:AGY) shares have jumped 15.2% to $0.091 in morning trade as the company recently commenced Stage 2 pond excavation and construction works at its Rincon Lithium Project. Rincon is located in the “Lithium Triangle” in Salta Province, Argentina. The Stage 2 development works commenced ahead of schedule. Timeline Argosy is targeting the first set of these pond construction works to be completed during September. Additional ponds are being scheduled, and pending approvals, are targeted for completion during October. This will result in a combined total of ~10 hectares of newly constructed evaporation ponds. The ponds are being fast-tracked to meet the commencement of the peak solar evaporation season, which usually begins during September and continues until April. Jerko Zuvela, managing director, commented: "The successful commencement of the next stage of pond construction works, an exponential increase in scale from the original Stage 1 ponds, continues to demonstrate the company’s aggressive development strategy, proficiency and expertise to fast-track toward production of LCE product, which is a near-term prospect that I am very excited about and will see Argosy as the second ASX-listed lithium producer."