Argosy Minerals Trousers US$5m Investment From Amperex

Argosy Minerals (ASX: AGY) has received a US$5 million equity investment from the producer of lithium-ion batteries, China’s Amperex Technology Limited.

The deal was struck at $0.14631 per share, a 15% premium to the 10-day price.

ATL has agreed to place its shares into a 12-month standstill period.

Argosy and ATL will negotiate a potential offtake sales agreement for lithium carbonate products from the Rincon 2,000tpa facility in Argentina.

Argosy has a target of producing 2,000tpa of battery-quality lithium carbonate products at the Rincon Lithium Project.

It became only the 2nd ASX-listed battery-quality lithium carbonate producer.

It held $9.3 million on 31 March 2024 before the placement.

About Rincon Lithium Project

Argosy has a 77.5% JV interest, earning up to 90%.

The Rincon Lithium Project is the flagship asset in Argosy’s lithium development strategy, located within the Salar del Rincon in Salta Province, Argentina.

It has a 10,000tpa Environmental Impact Assessment Approval.

 

 

 

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