Argosy Minerals (AGY) Q1 2026 TU earnings summary

Executive summary

• Advanced development of the 12ktpa Rincon Lithium Project in Argentina, progressing toward Final Investment Decision (FID) with significant engineering and feasibility milestones achieved.

• 40MW energy infrastructure works for Rincon are moving toward procurement and construction readiness, ensuring reliable power supply.

• Strong cash reserves of approximately $3.6 million as of 31 March 2026, supporting ongoing project development.

• Demonstration facility operations remain suspended, with focus shifted to completing DFS for the 12ktpa project.

Financial highlights

• Cash and cash equivalents at quarter end were $3.57 million, down from $4.26 million in the previous quarter.

• Net cash used in operating activities was $195,000 for the quarter.

• Net cash used in investing activities totaled $462,000, including $278,000 for development and $184,000 sent to Puna Mining.

• Payments to related parties and associates amounted to $219,000 for the quarter.

Outlook and guidance

• Ongoing focus on completing the Definitive Feasibility Study (DFS) and securing funding for the 12ktpa Rincon project.

• Positive preliminary discussions with Export Credit Agencies (ECA) for project funding, leveraging recent ECA support for similar projects.

• Rising lithium prices and strong demand outlook, especially from EV and energy storage sectors, support project economics.