trending Market Intelligence /marketintelligence/en/news-insights/trending/f3f5r84_XOEUYiNOlBjHjg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Argosy terminates investment deal with Chinese battery company

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

Argosy terminates investment deal with Chinese battery company

Argosy Minerals Ltd. said Oct. 10 that it terminated an investment deal with Chinese battery company Qingdao Qianyun High-tech New Material Co. Ltd. after it declined to give an extension to satisfy certain conditions for the placement.

Under the deal, Argosy would have issued shares representing up to 19.9% of the company to Qingdao Qianyun at a price of 8.5 Australian cents each.

Argosy will return an off-take prepayment deposit of US$750,000 as part of the agreement.

Qingdao Qianyun, meanwhile, requested the termination of the off-take agreement for the supply of battery-grade lithium from the Rincon lithium project in Argentina.

Argosy said it will not accept the request and the agreement remains in effect and is not contingent on the completion of the placement.