Argosy Minerals Limited (ASX:AGY) is scheduling a preliminary trial cargo of about 5 tonnes of high-quality lithium carbonate produced from its industrial-scale pilot plant operations in Argentina for shipment early next year.
This trial cargo will deliver into the sales agreement for product from the Rincon Lithium Project which was executed in March 2019.
It comes as the company is achieving consistent high-quality lithium carbonate product from the pilot plant at the project, with results reaching up to 99.8% lithium carbonate content.
This content also has very low impurity levels, including no detected iron or other magnetic materials based on regular sample lot testing using the company’s on-site laboratory.
“Excited” at pending shipment
Argosy managing director Jerko Zuvela said, “We are excited at the pending maiden shipment of high-quality lithium carbonate produced from our Rincon Lithium Project and confirming our status as the first LCE producer from Salta Province in Argentina.
“It is another strong endorsement for Argosy, the Rincon Lithium Project and our fast-track development strategy toward commercial LCE production.”
The quality of the upcoming trial cargo is expected to exceed the specifications/Certificate of Analysis set out in the sales agreement.
Pre-shipment samples will be provided prior to full delivery for confirmation purposes.
Sales price formula
The sales price for each cargo will be determined using a set formula agreed between the parties that references an industry-standard benchmark index LCE product price, netting off in-country taxes, adjustments for product specifications, all associated shipping costs and commission fees.
Argosy has been advised that the regulatory approval process for development of the initial commercial module lithium carbonate processing plant of approximately 2,000 tonnes per annum and associated operations at the Rincon site is progressing toward finalisation and is expected soon.