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Argosy Minerals (ASX:AGY) - Managing Director, Jerko Zuvela - The Market Herald
Managing Director, Jerko Zuvela
Source: Proactive Investors
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  • Argosy Minerals (AGY) has exported 20 metric tonnes of more than 99.5 per cent purity, battery quality lithium carbonate from Argentina to Korea
  • The Australia-based company is focussed on two projects: the Rincon Lithium Project in Argentina and the Tonopah Lithium Project in the U.S.
  • The product was exported from its industrial-scale pilot plant operations at the Rincon Lithium Project in Salta Province, Argentina to a Korean chemical company
  • Argosy delivered the requisite shipping documents as per the terms of the spot sales contract and associated payment process, with payment to be made immediately upon receipt of these original documents
  • The company says the ability to produce high purity battery quality lithium carbonate product from the industrial scale pilot plant considerably reduces the associated risks for Argosy when progressing to larger-scale operations
  • Argosy Minerals is up 17.4 per cent, trading at 13.5 cents

Argosy Minerals (AGY) has exported 20 metric tonnes of more than 99.5 per cent purity, battery quality lithium carbonate from Argentina to Korea.

The lithium carbonate product was exported from its industrial-scale pilot plant operations at the Rincon Lithium Project in Salta Province, Argentina to Korean chemical company, Y. N Chemical Co.

 Argosy Minerals is an Australia company focussed on its flagship Rincon Lithium Project in Salta Province, Argentina’s world-renowned “Lithium Triangle” on which it has a 77.5 per cent interest, and the Tonopah Lithium Project in Nevada, USA, which they have sole interest in.

The delivery of the cargo further confirms the advanced stage at which the company is operating using their environmentally clean and conventional chemical process technology, compared to lab-scale testing being conducted by other lithium companies.

With the cargo came the delivery of the requisite shipping documents as per the terms of the spot sales contract, with payment to be made immediately upon receipt of these original documents.

The company says the ability to produce high purity, battery-quality lithium carbonate product from the industrial scale pilot plant considerably reduces the associated risks for Argosy when progressing to the larger-scale operations.

"Argosy’s ability to produce high purity battery quality lithium carbonate product on an industrial scale is what separates Argosy’s technology expertise from all our junior peers. This puts Argosy in the enviable category with international lithium producers, with our high-quality product being recognised by customers across Asia and Europe," said Argosy Managing Director, Jerko Zuvela.

"In addition, the sales price achieved is higher than many of the larger lithium producers, reflecting the quality of and interest to secure our product, and confirming the marketability of our high quality more than 99.5 per cent lithium carbonate, noting the 20 metric tonne product sale is a pre-cursor to potential future stage two off-take arrangements."

Argosy says the recent marked increase in lithium carbonate prices, which are currently trading at a 16-month high, and the significant improvement in the general lithium sector thematic, will bode well for the company.

Argosy is looking to leverage off the rising prices by fast-tracking the construction of the around 2000-tonne-per-annum processing plant.

Argosy Minerals is up 17.4 per cent, trading at 13.5 cents at 9:28 am AEDT.

AGY by the numbers
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