Australia's Argosy Minerals rises on securing $5 mln strategic investment

Argosy Minerals

24/05/2024 02:15

** Shares of lithium developer Argosy Minerals  AGY.AX  rise
as much as 7.7% to A$0.140, their highest since April 30
    ** Co secures $5 mln strategic investment from lithium-ion
battery producer Amperex Technology
    ** Says investment to be completed via placement at
A$0.14631 per share, a 12.5% premium to AGY's last close
    ** Adds agreement includes both companies engage to
negotiate potential offtake sales deal for lithium carbonate
product from Rincon lithium facility in Argentina
    ** Stock among the top gainers on ASX All Ordinaries index
 .AORD 
    ** As of last close, stock down 3.7% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))