Why Argosy Minerals Share Price Has Jumped Higher Today

What happened to the Argosy Minerals Ltd share price?

At the time of writing, shares of Argosy Minerals Ltd [ASX:AGY] are up by 3.28%, to 31.5 cents per share. Argosy Minerals is a lithium player, located in Salta Province, Argentina.

Why did Argosy Minerals Ltd shares do this?

The company jumped close to 70% yesterday, when it announced ‘battery grade’ lithium.

What now for Argosy Minerals Ltd?

Here are the headline numbers:

Agosy Minerals ASX Annoucement

Source: Argosy Minerals

The market was shocked by the numbers. In early June, the company announced that it produced lithium carbonate ― however, it was only industrial grade.

Here’s what happened to the share price:

Commsec Agosy MineralsSource: commsec

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The share price plunged from 30 cents to about 20 cents in June. But, now, the numbers look solid ― and so does the share price.

That said, we might see a bit of profit taking around these levels. But for the patient investor, that could be a good thing…

There’s still a fair bit of work ahead.

Argosy Minerals needs to secure off take agreements for its ‘battery grade’ lithium and then put the mine into production. Once that happens, if the lithium market still looks good, the share price could explode.

Jason Stevenson,
Resources Analyst, Markets & Money

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Jason Stevenson is Markets & Money’s resource analyst. He shares over a decade’s worth of investing and trading experience across resource stocks and commodity futures and options. He originally studied accounting and finance at Curtin University, where he was awarded a first-class honours degree. His professional background stems across high-net-worth, top tier accounting (corporate finance, tax and auditing), and sell-side equities research. Before joining the team at Markets and Money, Jason worked at boutique firms which advised fund managers and high-net-worth clients on where to invest. Whether it’s gold, crude oil, copper or an obscure metal like vanadium, you can rely on an in-depth analysis in Markets and Money. Jason also brings you extensive macro, political and geopolitical analysis from around the world. He leaves no stone unturned when it comes to telling the truth. Jason is also the lead analyst of Gold Stock Trader, a premium service for investors serious about precious metal stocks. Websites and financial e-letters Jason writes for:


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