As you all know, a Troy ounce is a unit of measure for weighing precious metals that goes back to the Middle Ages. For instance the spot price of 99.9% silver has climbed to around $31.00 AUD per Troy ounce (ozt) from less than $8.00 just 15 years ago.
According to the Perth Mint, 1 Troy Ounce (ozt) = 31.10347 grams. Or one kilogram (kg) = 32.1507 Troy ounces.
In case anyone missed it, and if my math is correct, last week the spot price of battery grade lithium carbonate (99.5%) breached $1.00 AUD an ounce when it sailed past $32,150.07 AUD per tonne.
Lithium is not currently classed as a precious metal, due to its relative abundance. I would argue however that a case could be made for it to be classified as one in 99.5% form.
Anyway, thanks for obliging me and I will continue this chat when we reach $2.00 an ounce (300,000 CNY).
Enjoy the ‘green’ day today.
As you all know, a Troy ounce is a unit of measure for weighing...
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