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Anson Resources granted trading halt pending capital raising

The halt will remain in place until the start of normal trading on Thursday, July 12, or when the announcement is released.
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Anson is advancing the Paradox Lithium Project in the US

Anson Resources Ltd (ASX:ASN) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.

The halt will remain in place until the earlier of the start of normal trading on Thursday, July 12, or when the announcement is released to the market.

Shares on a run

Shares have increased from 5 cents at the end of June to 14.5 cents at the close of trade on Monday.

The company is advancing the Paradox Lithium Project in the US state of Utah and recent news flow has supported increased investor interest.

READ: Anson Resources test work reveals higher grade concentrates, shares surge

Anson recently received further encouraging results from evaporation test work on a sample taken from the re-opened Cane Creek 32-1 well.

Results how both lithium and boron concentrate grades increasing.

The objective of the test work was to assess the change in lithium concentration if evaporation was used to precipitate unwanted salts from the brine as a pre-processing step.

Encouraging test results

Anson’s managing director Bruce Richardson said that the unexpected results of the evaporation test work using heat were very encouraging for the success of the project.

“The rapid precipitation of the salts from the brine and the resulting increase in lithium concentration in the brine should provide improved feed for the production plant resulting in improved productivity.”

READ: Anson Resources sees good flow rates upon re-opening sampled well

Anson also recently reported freely flowing brine from the Cane Creek 32-1 well.

The flow rate of 45,600 gallons per day shows there is a good amount of pressure within the well which will make for low future operating costs.

Leaving the well open will facilitate the collection of additional bulk samples of brine future test work.

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