ASX: CXO Announcement 11 July 2023 Second concentrate shipment...

ASX: CXO Announcement
11 July 2023
Second concentrate shipment ready for export
Highlights
• The second spodumene concentrate parcel has been delivered to Darwin Port, and
ship loading will commence today
• The shipment of approximately 13,100 tonnes will complete the sales agreements
with Sichuan Yahua for 18,500 tonnes of spodumene concentrate
Australian lithium miner Core Lithium Ltd (ASX: CXO) is pleased to report that the second shipment of
spodumene concentrate from the Finniss Lithium Operation will commence loading at Darwin Port today.
Upon completion of loading, expected by 12 July, the ship, Silver Lady, will sail to Zhangjiagang in China.
The shipment of approximately 13,100 tonnes of spodumene concentrate is the balance of the 18,500
tonnes of commissioning and first production tonnes sold to Sichuan Yahua (Yahua) under ‘additional
sales agreements’ announced in March 20231
.
In accordance with the terms of the agreements, Core received 90% payment for the first parcel of
approximately 3,500 tonnes, and an 80% prepayment for the 15,000 tonne parcel in April. The final
payment for the 3,500t cargo has been settled, and balance of the purchase price for the current cargo
will be settled soon after shipment2
. Both shipments were sold on an FOB basis and are linked to the
Fastmarkets (spodumene 6% CIF China) price.
These shipments were sold in addition to the existing offtake agreement with Yahua for the sale of
300,000 tonnes of spodumene concentrate3
.
Core Lithium CEO Gareth Manderson said:
“Core’s second concentrate shipment was produced and delivered to the Darwin Port on-schedule,
marking an important milestone for Core and Finniss and will complete the additional sales agreements
with our foundation customer Sichuan Yahua.
“As we ramp up to steady-state operations at Finniss, our focus now is on the reliable production and
delivery of spodumene concentrate to our long-term offtake partners.”