28 March 2019ARGOSY EXECUTES SALES AGREEMENT WITHMITSUBISHI...

28 March 2019ARGOSY EXECUTES SALES AGREEMENT WITHMITSUBISHI CORPORATION RTM JAPAN _________________________________________________________________________________________HIGHLIGHTSSales Agreement with Mitsubishi Corporation RtM Japan Ltd, a subsidiary ofMitsubishi CorporationEstablished long-standing relationship formalised via preliminary lithium carbonatesales agreementFormula using industry standard benchmark index will be referenced to determinesales price for each cargo/deliveryInitial operations targeted to commence mid-2019Will generate revenue whilst Argosy progresses development works towardcommercial scale operations____________________________________________________________________________________________________________________________________________________________Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to announce that ithas executed a Sales Agreement with Mitsubishi Corporation RtM Japan Ltd (“MitsubishiRtM”), where the Agreement covers a preliminary arrangement for Argosy’s initial supply oflithium carbonate product from its Rincon Lithium Project in Argentina.The strategic arrangement will enable Argosy to utilise the Stage 1 industrial scale pilot plantfor small-scale commercial lithium carbonate production and product sales to a majorinternational conglomerate, following comprehensive processing and sample test-workscarried out utilising the Company’s pilot plant and proven industrial scale proprietarychemical process solution. Argosy is targeting commencement of operations for the SalesAgreement in mid-2019.The Sales Agreement reinforces the relationship Argosy has established with Mitsubishi RtMfollowing their first site visit in November 2017, and further strengthens the commitment forfuture potential commercial associations.Argosy Managing Director, Jerko Zuvela said “We are delighted to secure this preliminaryproduct off-take arrangement with Mitsubishi RtM, signifying both companies’ beneficialinterests to formalise our well-established relationship. Argosy places considerableimportance in working together with Mitsubishi RtM and the potential longer term benefitsthis relationship may deliver. It is also a strong endorsement of Argosy, the Rincon LithiumProject and our fast-track development strategy toward commercial LCE production.We are honoured that Mitsubishi RtM has selected and trust Argosy as their lithiumcarbonate off-take partner.”The sales price for each cargo will be determined using a set formula agreed between theparties that references an industry standard benchmark index LCE product price, netting offASX ANNOUNCEMENTPage 2 of 3Argosy Minerals LimitedACN 073 391 189Level 2, 22 Mount Street, Perth, WA 6000PO Box 7054, Cloisters Square, Perth, WA 6850Ph: (08) 6188 8181 Fax: (08) 6188 8182in-country taxes, adjustments for product specifications, all associated shipping costs andMitsubishi RtM commission fees.The Sales Agreement provides flexibility to amend the arrangement for the mutual benefitof both parties.The Company will continue prioritising efforts to secure a strategic relationship/partnershipto secure the capex funding solution for the successful commercial development of theRincon Lithium Project. Such efforts will include continued discussions with various interestedparties.About Mitsubishi Corporation RtM Japan Ltdhttp://www.mitsubishicorprtm.com/japan/english/index.htmlMitsubishi Corporation RtM Japan Ltd. is a metals and mineral resources trading companythat deals in a wide spectrum of general metal resources and materials, including ferrousraw materials and non-ferrous metals.The “RtM” of the company name is an abbreviation of Resource to Market: by taking on themission of providing metals and mineral resources to markets, we aim to offer greateradded value to suppliers and users in order to contribute to sustainable socialdevelopment.The Battery & Electronics Materials Business Development Office – a unit within MitsubishiRtM, is engaged in new project development aimed at fulfilling its role in future stablesupply of battery materials and handles products used as raw materials in rechargeablebatteries, such as nickel, cobalt, and lithium. It is also involved in new project developmentaimed at ensuring a stable supply of raw materials into the future. As production of electricvehicles grows, demand for these and other cathode materials for rechargeable batteriesused in these vehicles are expected to increase greatly.ENDS