Argosy Minerals (ASX:AGY) has signed a spot sales contract with a Hong Kong-based chemical company for the sale of 60 tonnes of battery quality 99.5% lithium carbonate product from the Rincon Project in Argentina.
The contract has an agreed fixed price referenced from the Shanghai Metals Market battery grade lithium carbonate price, currently ranging from between US$7,385.4 to US$7,533.11 ($11,490) per tonne, as of 26 June
Delivery terms are free on board Buenos Aires port with payment terms requiring a 30% deposit and the 70% balance required prior to ship loading.
Argosy, which has a market capitalisation of $21.83 million, will prepare and package the cargo for delivery to port.
Managing Director Jerko Zuvela says the company is pleased to have interest in its battery quality lithium carbonate product.
“With our positive project fundamentals, we will be strong beneficiaries of the EV/lithium sector resurgence noting the significant development milestones achieved to date at our Rincon Lithium Project,” Zuvela says.
The Rincon Lithium Project, covering 2,794 hectares, is located in the Salta Province of Argentina. The company is focused on its 2,000 tonnes per year operations that produces battery quality lithium carbonate equivalent products, as well as its 12,000 tonnes per year operation expansion phase.
Argosy Minerals is an Australian company focused on lithium in Argentina and Nevada.
Write to Aaliyah Rogan at Mining.com.au
Images: Argosy Minerals
