Argosy Minerals (AGY) Q2 2025 TU earnings summary

Executive summary

• Advanced engineering and feasibility works for 12,000tpa Rincon Lithium Project, targeting construction readiness and final investment decision.

• Secured a 40MW energy infrastructure agreement to power Rincon, a key milestone for project viability.

• Executed a spot sales contract for 60 tonnes of battery-grade lithium carbonate; demonstration facility remains suspended.

• Completed a $2 million placement post-quarter to support project development and maintain strong cash reserves.

• Strategic partner process ongoing, with due diligence underway and regulatory approvals in place for commercial scale-up.

Financial highlights

• Cash reserves stood at ~$3.6 million as of 30 June 2025, with an additional $2 million raised post-quarter.

• Placement issued 80 million shares at $0.025 each, with 1-for-2 attaching options exercisable at $0.04, expiring in 3 years.

• Expenditure during the quarter included ~$58,000 to Puna Mining and ~$172,000 for Rincon development; exploration spend was ~$4,000.

• Payments to related parties totaled ~$223,000 for director, consultancy, and administrative services.

Outlook and guidance

• Lithium demand growth remains robust, supporting the Rincon development strategy.

• H2 2025 lithium carbonate demand expected to remain strong, with China leading EV and ESS growth; lithium prices forecast to recover in 2026-2027.

• Company targeting lower net expenditures and additional revenue opportunities, including asset leasing and product sales.