The Argosy Minerals (ASX:AGY) share price surged 17% higher today. Here's why

The Argosy Minerals (ASX: AGY) share price rocketed up more than 17% today. Let's take a look at what the company announced.

Gretchen Kennedy

Gretchen grew up in a small Connecticut town where she learned to read The Wall Street Journal as part of the grade six enrichment program. She moved to Australia in 2002, earned a Master of Arts (Professional Writing) and went on to spend eight years writing on Wall Street. In June 2018, Gretchen returned to Australia and has since developed a keen interest in all things ASX. In December 2020, she started writing for the Motley Fool. Gretchen's usually writing something, reading a book or chasing her dogs around.

Published January 19, 2021 5:27 pm AEDT

The Argosy Minerals Limited (ASX: AGY) share price had a ripper trading day today, closing more than 17% higher at 13 cents.

This performance spike follows the company's release this morning of its December 2020 quarterly activities report.

ASX lithium shares record A line-up of green lithium batteries, indicating positive share price movement for clean ASX lithium miners — Image source: Getty Images

Lithium project pursuits

Argosy Minerals has interests in two lithium projects. The Rincon Lithium Project in Salta Province, Argentina and the Tonopah Lithium Project in Nevada, the United States.

The Rincon Lithium Project is the company's flagship project. Argosy Minerals believes that this project is located within the world's largest lithium resource.

In today's announcement, the company noted that the JORC Exploration Target delineated for the Rincon Lithium Project has potential to increase the project's mine life and production capacity in the future.

The announcement also referenced the current environmental impact assessment report, which is progressing toward final completion.

International expansion

During the reported quarter, Argosy Minerals shipped 20 tonnes of product to Korean chemical company, YN Chemical Co Ltd. Analysis confirmed the delivery of a high purity, battery-quality product with low impurity levels.

According to Argosy Minerals, the successful execution of the Korea deal opens the company up to a new set of market opportunities extending across Korea, Japan, Europe and North America.

The company also accepted membership to the European Raw Materials Alliance (ERMA) during the quarter. ERMA's vision is to "secure access to critical and strategy raw materials, advanced materials, and processing know-how for European Union Industrial Ecosystems".

About the Argosy Minerals share price

Over the past 12-month period, Argosy Minerals has advanced around 45% higher. The Argosy Minerals share price roaring nearly 160% higher just in the past the past 6 months alone.

An investor who bought Argosy shares 5 years ago, would have gained around 6,600% on their investment today.

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