Argosy Minerals has secured firm commitments to raise $3 million through a private placement to fund ongoing engineering and feasibility works at its flagship Rincon Lithium Project in Salta Province, Argentina.

The placement involves issuing 83,333,334 fully paid ordinary shares at $0.036 each to new domestic and international institutional and sophisticated investors. Participants will also receive one unlisted attaching option for every two new shares subscribed, exercisable at $0.054 each with a two-year expiry from the date of issue. Settlement of the placement shares is scheduled for 7 September 2026, with allotment expected on 8 September 2026.

To give existing retail holders access to the same issue terms, the company is launching a non-underwritten Share Purchase Plan to raise up to an additional $500,000. Eligible shareholders in Australia and New Zealand can apply for up to $30,000 worth of new shares carrying the same option terms. The share purchase plan offer opens on 8 September 2026 and is scheduled to close on 22 September 2026.

Proceeds from both capital-raising initiatives will provide working capital and support priority development programs, including the ongoing engineering work for the 12,000 tonnes per annum production facility. Argosy holds a 77.5% joint venture interest, with rights to earn up to 90%, in the Salta Province asset.

“We appreciate and are very pleased to have received such strong support for our Placement from high-quality investors. The Placement funds provide important working capital as we continue building momentum for our Rincon 12ktpa development works.

In addition, and importantly, the inclusion of an SPP reflects the Board's desire to enable supportive eligible shareholders to participate on the same terms as our institutional investors.” 

— Jerko Zuvela, Managing Director

Ahead of the financing, Argosy advanced engineering and pilot plant testwork programs for the 12ktpa Rincon development, achieving 99% lithium purity to support the final Definitive Feasibility Study. The basic engineering package for the 12ktpa production facility is expected to be finalized by late September 2026, marking a key operational milestone for the company as it advances its development strategy.

Read the full announcement: Successful $3M Placement and SPP launched