The Argosy (ASX:AGY) share price is racing 9% higher. Here’s why.

The Argosy Minerals Limited (ASX: AGY) share price is surging today following an update on its Rincon Lithium Project. At the time of writing, the lithium miner’s shares are up 9%, trading at 11.5 cents.

Let’s take a closer look and see what Argosy reported to the ASX market this morning.

Developments works schedule

The Argosy share price is on the rise after the company gave investors a clearer picture of its plans for the Rincon project.

In today’s release, Argosy provided a development works schedule for project construction. The timetable outlines the production phase to mine 2,000 tonnes per annum of lithium carbonate from late in the second quarter of FY22.

Argosy holds a 77.5% interest in the Rincon project, located in…