Argosy Minerals (ASX:AGY) has entered into a spot sales contract with a Hong Kong-based chemical company for the sale of 60 tonnes of battery quality 99.5% lithium carbonate from its Rincon Project in Argentina. The agreed fixed price is referenced from the Shanghai Metals Market battery grade lithium carbonate price, currently ranging between US$7,385.4 and US$7,533.11 (approximately A$11,490) per tonne as of June 26.
The delivery terms are free on board Buenos Aires port, with payment terms requiring a 30% deposit. The remaining 70% balance is due prior to ship loading. Argosy Minerals, which has a market capitalisation of A$21.83 million, will handle the preparation and packaging of the cargo for delivery to the port.
Argosy Minerals Managing Director Jerko Zuvela expressed his satisfaction with the interest in the company’s battery quality lithium carbonate product. He noted the company’s positive project fundamentals and the significant development milestones achieved to date at the Rincon Lithium Project.
Argosy Minerals is an Australian company focused on lithium exploration and development projects in Argentina and Nevada. The Rincon Lithium Project, spanning 2,794 hectares in the Salta Province of Argentina, is the primary focus. The company is concentrating on its 2,000-tonne-per-year operation producing battery-quality lithium carbonate equivalent products, alongside its 12,000-tonne-per-year operation expansion phase.
