The Argosy Minerals (ASX:AGY) share price surged 17% higher today. Here’s why

The Argosy Minerals (ASX: AGY) share price rocketed up more than 17% today. Let’s take a look at what the company announced.
The post The Argosy Minerals (ASX:AGY) share price surged 17% higher today. Here’s why appeared first on The Motley Fool Australia. –

A line-up of green lithium batteries, indicating positive share price movement for clean ASX lithium miners

The Argosy Minerals Limited (ASX: AGY) share price had a ripper trading day today, closing more than 17% higher at 13 cents.

This performance spike follows the company’s release this morning of its December 2020 quarterly activities report.

Lithium project pursuits

Argosy Minerals has interests in two lithium projects. The Rincon Lithium Project in Salta Province, Argentina and the Tonopah Lithium Project in Nevada, the United States.

The Rincon Lithium Project is the company’s flagship project. Argosy Minerals believes that this project is located within the world’s largest lithium resource.

In today’s announcement, the company noted that the JORC Exploration Target delineated for the Rincon Lithium Project has potential to increase the project’s mine life and production capacity in the future.

The announcement also referenced the current environmental impact assessment report, which is progressing toward final completion. 

International expansion

During the reported quarter, Argosy Minerals shipped 20 tonnes of product to Korean chemical company, YN Chemical Co Ltd. Analysis confirmed the delivery of a high purity, battery-quality product with low impurity levels. 

According to Argosy Minerals, the successful execution of the Korea deal opens the company up to a new set of market opportunities extending across Korea, Japan, Europe and North America.

The company also accepted membership to the European Raw Materials Alliance (ERMA) during the quarter. ERMA’s vision is to “secure access to critical and strategy raw materials, advanced materials, and processing know-how for European Union Industrial Ecosystems”. 

About the Argosy Minerals share price

Over the past 12-month period, Argosy Minerals has advanced around 45% higher. The Argosy Minerals share price roaring nearly 160% higher just in the past the past 6 months alone.

An investor who bought Argosy shares 5 years ago, would have gained around 6,600% on their investment today.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The Argosy Minerals (ASX:AGY) share price surged 17% higher today. Here’s why appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!