Why the Argosy (ASX:AGY) share price is up 50% in a month

We look at what's happening with the company's shares…

| More on:
A smiling woman sits in a cafe reading a story on her phone about Rio Tinto and drinking a coffee with a laptop open in front of her.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Argosy Minerals Limited (ASX: AGY) share price may be down today but this hasn't dented its recent upward trajectory. The lithium miner has been busy progressing construction works at its Rincon lithium project, located in Salta Province, Argentina.

At the time of writing, Argosy shares are down 2.42% to 32.2 cents apiece. Despite the backtrack, the company's shares have shot up 50% over the past month.

What's the latest with Argosy?

Investors have been bidding the Argosy share price higher as the company edges closer to bringing the Rincon project online.

Last week, Argosy advised the plant and equipment requisition and procurement works are on track as planned.

Early-lead items such as 150kVA generators, industrial pumps, chillers/coolers, agitators, and motors were sourced from local manufacturers. Furthermore, longer-lead items that include process tanks, reactors, and industrial boilers were being engineering and built locally in Argentina.

Other items, such as the evaporator/dryer, is being manufactured in Germany and filters are coming from Asia. The mill, which has been already built and delivered, came from the United States.

The company is targeting for the construction phase to be completed sometime in April 2022. Plant commissioning works, along with test works and ramp-up, is set to follow immediately after.

Argosy managing director Jerko Zuvela commented:

The Company's Puna operations team is continuing their timely development progress, with plant and equipment procurement on schedule and budget for the 2,000tpa lithium carbonate production operation at our Rincon Lithium Project.

We look forward to a significant near-term growth phase from the increasing development activity at Rincon as we get closer to completing construction works and transform Argosy into a battery quality lithium carbonate producer and cashflow generator, and then to further progress the 10,000tpa project development expansion.

Argosy share price summary

In the last 12 months, the Argosy share price has gained a mammoth 508%, with year-to-date up more than 303%.

The company's shares rose strongly at the start of the calendar year before profit-taking took hold. More recently, Argosy shares have zipped upwards to reach a multi-year high of 36.5 cents last week.

On valuation grounds, Argosy has a market capitalisation of roughly $404 million, with 1.25 billion shares on issue.

Should you invest $1,000 in Universal Store Holdings Limited right now?

Before you buy Universal Store Holdings Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Universal Store Holdings Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Resources Shares

Miner looking at a tablet.
Resources Shares

Mineral Resources share price slides despite significant reserves growth

An 89% resources upgrade hasn’t boosted Mineral Resources shares today.

Read more »

Copal miner standing in front of coal.
Resources Shares

How much upside does Macquarie tip for New Hope shares?

A softer-than-expected quarter has impacted the broker's view.

Read more »

2 people at mining site, bhp share price, mining shares
Resources Shares

Rio Tinto share price pushes higher on $1.4 billion lithium agreement

Rio Tinto shares are gaining major lithium exposure.

Read more »

Miner looking at a tablet.
Resources Shares

Up 73% since April, why Mineral Resources shares could keep charging higher

A leading expert says that Mineral Resources shares remain ‘heavily undervalued’. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Resources Shares

Guess which ASX 200 mining stock is sinking 7% following its quarterly update

Let's see how this miner performed during the third quarter.

Read more »

Miner looking at a tablet.
Resources Shares

What's the latest broker ratings on BHP shares?

There's an air of caution floating about BHP shares even with bullish ratings.

Read more »

A young African mine worker is standing with a smile in front of a large haul dump truck wearing his personal protective wear.
Resources Shares

BHP shares last traded at $50 in 2023. When will they get back there?

Let’s dig into the potential for BHP shares to rise.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords stock just rocketed 21% on 'exceptional' results

Investors are sending the ASX All Ords stock flying higher on Wednesday. But why?

Read more »