The stock hit an all-time high today of A41.5c today, capitalising it at $370 million and representing a gain of 60% since the start of the year last week.
Twelve months ago it was at 3c.
The recent performance attracted the attention of the ASX, with Argosy telling the authorities that it’s been actively marketing the company as production developments continue at its Rincon project in Argentina.
The marketing efforts have included executives holding “key meetings with several significant companies in the Chinese lithium battery sector to discuss Argosy’s development strategy and potential propositions for the Rincon”.
Argosy raised $17 million in October after pulling out of a $26 million raising it unveiled in August with a Chinese firm that included offtake provisions.
The change of heart followed delays and resulted in much better terms for existing shareholders.
Argosy has evaporation ponds constructed and is building a pilot plant to process lithium brine this quarter.
Shares in Argosy were up 18% to 41.25c in late trade.
