Earlier in the week Anson completed a further share placement to Zhongfan Group at $0.088 to raise $1.76 million.
Bruce Richardson, managing director for Anson, commented:
"Zhongfan is a very supporting strategic partner, who continue to show tremendous support from Anson’s Paradox Lithium Project.
"With reach into multiple markets, and a complementary business line expected to utlise lithium, Anson is very pleased to have further strengthened its business relationship with Zhongfan."
The company has started the earthworks stage of a drilling program at Paradox Lithium Project in the Lithium Four Corners area of the U.S. state of Utah.
The work is the first stage of the fully funded program and includes preparing a drill pad and upgrading an access road.
Once the work is complete a drilling rig will be mobilised to site.
The Zhongfan Group
Zhongfan Group (Chia Tai Xingye International) is a privately owned, large scale international enterprise group based in Shanghai, China, that integrates resource development, mineral trading and new material technology development.
The group and has over US$2 billion in annual turnover.
Zhongfan and Anson have a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the Paradox Lithium Project.