Argosy (ASX:AGY) share price backtracks despite positive update

The Argosy Minerals Limited (ASX: AGY) share price is losing ground today. This comes despite the company updating the market with its expansion development plans for the Rincon Lithium Project.

During late afternoon trade, the lithium miner’s shares are down 4.5%, trading at 10.5 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?

The Argosy share price is in the red today regardless of its positive update to investors.

In its release, Argosy advised that it…