Argosy Executes 60T Lithium Carbonate Spot Sales Contract
Key points
- Spot sales contract for 60 metric tonnes of battery quality >99.5% lithium carbonate
- Fixed sales price referenced from SMM battery grade lithium carbonate price
- Delivery terms FOB Buenos Aires port, payment 30% deposit and 70% 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 60 metric tonnes of battery quality >99.5% 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 was pleased to receive strong interest for the sale of its battery quality lithium carbonate product, and that with the positive project fundamentals, Argosy will be a strong beneficiary of the EV/lithium sector resurgence, noting the significant development milestones achieved to date at the Rincon Lithium Project. The Company advised that there are no material conditions that need to be satisfied prior to proceeding with, nor any other material information relevant to, the Spot Sales Contract.
Outlook
The Company is focused on building a sustainable lithium production company, highly leveraged to the forecast growth in the lithium-ion battery sector.
Summary generated by a large language model. Please interpret with care.