MENU

The Argosy Minerals Limited share price just jumped to a record-high

The Argosy Minerals Limited (ASX: AGY) share price has been a standout performer on the local share market on Monday.

Its shares climbed 12.5% to an all-time high of 45 cents in morning trade. At lunch they have dropped back a touch and are up 11% at 44.5 cents.

This means the lithium-focused mineral exploration company’s shares have now rocketed a remarkable 2,125% in the space of a year.

To put that into context, if you’d invested $10,000 in Argosy Minerals’ shares a year ago, it would be worth approximately $225,000 today.

Why have its shares rocketed higher?

Almost all Australian lithium miners have pushed higher today. In fact, two other lithium miners are at 52-week highs or better today.

These are the Avz Minerals Ltd (ASX: AVZ) share price and the Orocobre Limited (ASX: ORE) share price. Industry giant Galaxy Resources Limited (ASX: GXY) is also closing in fast on a new high as investors bet on high lithium prices staying around for longer thanks to the insatiable demand for the metal from battery makers.

As well as this, Argosy Minerals recently provided a positive update on its Rincon lithium project in Argentina, revealing that it is close to commencing production at the site.

Furthermore, it has a number of Chinese companies from the lithium battery sector interested in off-take or other value-adding commercial agreements.

All being well, these agreements and the grade of its produce will live up to expectations and justify the incredible rise in its share price.

I think Argosy Minerals will be one to watch this year, but I wouldn’t expect to see another 2,000+ gain unfortunately. I would suggest investors add it to their watchlists and look out for any news around off-take agreements in the near future.

But if the lithium miners are too volatile for you then these exciting growth shares could be more to your liking. I expect them to provide market-beating returns over the long-term.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!