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:
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:
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.
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