Argosy (ASX:AGY) share price plummets 7% despite positive update

The Argosy Minerals Limited (ASX: AGY) share price has plummeted in early afternoon trade. This comes despite a positive company announcement to the ASX market this morning.

At the time of writing, the Argosy share price is trading down 7.89% at an intraday low of 17.5 cents.

Argosy Minerals is a mining and exploration company with a 77.5% interest in the Rincon Lithium Project in Salta Province, Argentina. The company also operates the Tonopah Lithium Project in Nevada, USA.

What did Argosy announce?

In today’s release, Argosy revealed that Salta Province’s government plans to develop a mining logistics node to support mining and energy activities in the Puma region. The node will be located next to Argosy’s Rincon…