Key points
- Spot sales contract executed for 20 metric tonnes of battery quality >99.5% lithium carbonate product
- Fixed sales price referenced from SMM battery grade lithium carbonate price
- Delivery terms FOB Buenos Aires port, with 30% deposit and 70% balance prior to ship loading
Full summary
Argosy Minerals Limited (ASX: AGY) has announced the signing of a Spot Sales Contract with a Hong Kong based chemical company for the sale of 20 metric tonnes of battery quality lithium carbonate product produced from the Company's Rincon Lithium Project. The agreed fixed price was referenced from SMM battery grade lithium carbonate price, with delivery terms being FOB Buenos Aires port and payment terms requiring a 30% deposit and the 70% balance required prior to ship loading. The Company will prepare and package the cargo for delivery to port. Argosy's Managing Director, Jerko Zuvela, stated that the company is pleased to achieve the sale of its battery quality lithium carbonate product, with strong interest received. This will support the remaining product sales the company is progressing with and for potential future off-take opportunities. The company's fundamentals remain strong, and they will be strong beneficiaries of the EV/lithium sector resurgence, noting the significant project milestones completed to date.
Outlook
The company is delighted to be part of the exclusive group of international lithium carbonate product producers and exporters, as they continue the development of their Rincon Lithium Project.