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Argosy Minerals gets speeding ticket after 25% gains yesterday

The company noted that the Global X Lithium and Battery Tech ETF increased its holding of Argosy shares.

Argosy Minerals Ltd - Argosy Minerals gets speeding ticket after 25% gains yesterday
Argosy is focused on developing the Rincon Lithium Project in Argentina

Argosy Minerals Ltd (ASX:AGY) has responded to a price query from the ASX after shares in the company hit a high yesterday of 10.5 cents from their Friday close of 8.4 cents.

Given there was no ASX announcement from Argosy, the exchange asked: “Is AGY aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?”

Argosy responding saying it was not aware of any relevant information not released but did note a lithium exchange-traded fund (ETF) had increased its holding in the company.

Recent holding data for the Global X Lithium and Battery Tech ETF indicates it increased its holding in Argosy to 4.83 million securities from 320,097 on 25 October 2019.

Recently acquired project in Nevada

Argosy recently purchased the Tonopah Lithium Brine Project in Nevada located four kilometres from lithium giant Albemarle’s (NYSE:ALB) Silver Peak lithium brine operation.

The acquisition creates an opportunity to leverage Argosy’s lithium brine processing expertise over an expanded asset base.

Argosy’s immediate focus and priority remains developing the Rincon Lithium Project and progressing towards construction of the 2,000 tonnes per annum lithium carbonate equivalent production operation.

Quick facts: Argosy Minerals Ltd

Price: 0.052 AUD

ASX:AGY
Market: ASX
Market Cap: $53.01 m
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