Sign up Australia
Proactive Investors - Run By Investors For Investors

Anson Resources shares surge, remains on track for lithium carbonate production

Shares in the company traded up 43% to $0.105 during the morning session.
Lithium sample
The first lithium carbonate is expected to be produced in April 2018

Anson Resources Ltd (ASX:ASN) has submitted an application to lease land at its Paradox Lithium Project in Utah, US to construct a pilot plant.

The application was submitted to the state government to lease 15 acres of industrial land.

Successfully securing this industrial site will enable Anson to fast-track the development of an infield pilot plant.

Plant to produce lithium carbonate

The in-field pilot plant aims to produce lithium carbonate for product qualification.

Bruce Richardson, managing director, said: “Identifying an industrial site on which to potentially locate an in-field pilot plant is a key step to fast-track development by potentially reducing the time needed to obtain approvals.”

READ: Anson Resources will begin phase I exploration this week at U.S. lithium project

Anson is also about to begin a drilling program during which brine will be collected for processing in a bench-top plant.

This will enable first lithium carbonate to be produced in April 2018.

Discussions have also been held with battery manufacturers to bench test product.

READ: Anson Resources extends lithium brine project near high-grade lithium

The news flow resulted in shares spiking to $0.105 in early trade on volume of more than 14 million.

The bench-top test work program is fully funded following a placement to Zhongfan Group, a privately owned, large-scale international enterprise group based in Shanghai, China.

Zhongfan integrates resource development, mineral trading and new material technology development, and has over US$2 billion in annual turnover.

READ: Anson Resources secures additional funding from Zhongfan Group

Zhongfan and Anson have a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the Paradox project.

Richardson said: “With the ongoing financial support of a strategic investor, the Zhongfan Group, Anson remains on track to create further shareholder value from development of its world-class lithium brine project.

“Each step brings this goal a little closer.”

Discussions with battery producers

Discussions have also been held with a number of battery producers, including those with whom Anson has existing memoranda of understanding.

The aim of these discussions is to enter into detailed negotiations for the supply of lithium to begin product qualification testing.

Anson expects to be able to supply lithium from its bench-top plant to battery manufacturers for testing in April 2018.

After completing the bench-top work, Anson intends progressing a larger scale in-field pilot plant enabling further product qualification testing.

View full ASN profile View Profile

Anson Resources Ltd Timeline

Related Articles

August 15 2018
Thunderstruck has an attractive and diverse portfolio of assets in Fiji
September 20 2018
The company is hoping to mine its graphite flake, see it turned into concentrate, then produce spherical graphite to supply Korean lithium-ion battery-makers.
An aircore drill rig at the GT6 prospect of the Pinnacles Gold Project
April 19 2018
Nexus has only scratched the surface in seeking out a Karari-style deep plunging ore body.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use