PUR completes the acquisition of its lithium pilot plant

Our Argentinian lithium Investment Pursuit Minerals (ASX: PUR) just completed the acquisition of its lithium carbonate pilot plant.

PUR paid US$365k for the plant which cost ~10x more to build back in 2013.

The plant’s original cost was ~US$3.6M.

The plant was previously producing at ~ 100 tonnes per annum and has in the past produced battery grade (99.5%+ purity) lithium carbonate product.

PUR will be looking to show that it can produce small quantities of battery grade lithium carbonate from the plant.

After that it will be all about progressively scaling up its production volumes.

Beyond its 100 tonnes per annum pilot plant, PUR has a production target of:

• 2,000 tonnes per annum within 24 months, and;
• 20,000 tonnes per annum within 36-48 months.

For context - PUR’s regional peer $478M Argosy Minerals is in the early stages of ramping up to it’s production target of 2,000 tonnes per annum of lithium carbonate equivalent.

For comparison, PUR is capped at ~$35M.

(Source)

What’s next for PUR?

PUR is currently doing a round of geophysics to pick the best spots to drill with its first drill program on the project.

PUR expects to be drilling later this year working toward its maiden JORC resource.

See our latest take on where PUR is at here: PUR aiming to be the 3rd lithium carbonate producer on ASX