市场见解

Argosy (ASX:AGY) share price edges higher on Rincon update

The company’s shares are closing in on its 52-week high after today’s positive update.
The post Argosy (ASX:AGY) share price edges higher on Rincon update appeared first on The Motley Fool Australia. –

The Argosy Minerals Limited (ASX: AGY) share price is pushing higher on Monday. This comes after the company announced an operational update on construction works at the Rincon Lithium Project.

Argosy holds a 77.5% interest in the Rincon project, located in Salta Province, Argentina. The mine is situated within the ‘lithium triangle’ – the world’s dominant lithium production source.

During late afternoon trade, the lithium miner’s shares are up 1.72% to 29.5 cents. This means its shares have now risen more than 40% in the past month alone.

How is Argosy tracking at Rincon?

Investors are buying up Argosy shares following the company snapshot of its progress at the Rincon Lithium Project.

According to its update, Argosy stated that around 45% of the total works have now been completed to bring the Rincon Lithium Project online. The development of the modular 2,000tpa (tonnes per annum) of lithium carbonate production plant remains on schedule and on budget.

The company is aiming to achieve the first commercial production of lithium carbonate product from mid-2022.

Major construction works such as building the process plant, equipment and associated installations, and expansion of the brine system have all progressed. As such, Argosy provided a summary of the current progress:

99% of earthworks/land movements completed;
86% of site works completed (site camp/accommodation, laboratory, office, and other works);
73% of the brine system completed (pumping station and plant settling ponds);
32% of the process plant completed (plant equipment acquisition and plant warehouse);
33% of utilities and associated services (vapour system, communication system, and ancillary services) completed

Argosy stated that the construction phase is scheduled to be finished in April 2022. Other stages of the project, such as commissioning works, production test-works and ramp-up, are expected to follow.

What did the head of Argosy say?

Argosy managing director Jerko Zuvela touched on the update, saying:

The company’s Puna operations team continue making significant progress on construction and development works, toward commencing 2,000tpa lithium carbonate production operations at our Rincon Project. With lithium market sentiment and lithium carbonate prices maintaining strength, we are excited as we escalate works in transforming Argosy into a battery quality lithium carbonate producer and cashflow generator, and then to further progress the 10,000tpa project development expansion.

Argosy share price review

Since the beginning of the year, Argosy shares have zipped higher, recording gains of almost 270%. The company’s share price reached a 52-week high of 30.5 cents last week and could stretch further.

Argosy presides a market capitalisation of roughly $368.83 million with approximately 1.25 billion shares outstanding.

The post Argosy (ASX:AGY) share price edges higher on Rincon update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Argosy right now?

Before you consider Argosy, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Argosy wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why ASX lithium shares are booming on Thursday

ASX lithium shares lift as spot prices hit all-time highs

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

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!