logo-loader
viewArgosy Minerals Ltd

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: 0.08 AUD

ASX:AGY
Market: ASX
Market Cap: $81.4 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Argosy Minerals Ltd named herein, including the promotion by the Company of Argosy Minerals Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Argosy signs binding agreement to acquire strategic US lithium brine project

Argosy Minerals Limited (ASX:AGY) managing director Jerko Zuvela updates Proactive Investors on the signing of a binding agreement to acquire a strategic lithium project in the US. The sale agreement provides for Argosy to acquire the Tonopah Lithium Brine Project in Nevada, just 4 kilometres...

on 16/8/19

2 min read