logo-loader
viewAnson Resources Ltd

Anson Resources produces first lithium carbonate, shares rise

Shares in the company are trading up 13.7% to 16.5 cents intra-day.

Anson’s first vial of lithium carbonate product
The company also outlined a $2.5 million capital raising earlier today

Anson Resources Ltd (ASX:ASN) has produced its first lithium carbonate (LCE) product from its Paradox Lithium Project in Utah during early precipitation test work.

The data collected will be valuable in fine-tuning the production process to produce a battery grade lithium carbonate product and ultimately the production of a final in-field pilot plant design.

The milestone follows details earlier today of a share placement which is set to raise $2.5 million.

READ: Anson Resources to raise $2.5 million in share placement

Anson’s managing director Bruce Richardson said: “The results from the test work using an alternative technology are extremely pleasing and demonstrate again that lithium can be recovered from the Cane Creek super saturated brines.

“The company continues to seek ways to fast-track the Paradox Lithium Project into production while endeavouring to maximize returns for its shareholders and as a result will continue to examine opportunities to use alternative technologies to achieve those objectives.”

Second stage test work focused on battery-grade lithium

The second stage of this test work will focus on using proprietary equipment in a larger scale test.

The test work using this production process to produce battery-grade lithium is expected to be completed in August, 2018.

Two lots of test work running in parallel

Significantly, this metallurgical test work is being run in parallel with separate test work being carried by Outotec.

The company notes the results of the Outotec test work have been pleasing and this test work is continuing.

Quick facts: Anson Resources Ltd

Price: 0.047 AUD

ASX:ASN
Market: ASX
Market Cap: $30.55 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Anson Resources Ltd named herein, including the promotion by the Company of Anson Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Anson Resources gets approval to build bromine/lithium plant...

  Anson Resources Ltd (ASX:ASN) CEO Bruce Richardson tells Proactive the bromine and lithium exploration company has received regulatory approval for a Special Use Lease with the State of Utah to begin building its modular bromine extraction plant. Anson says what's more, the company...

on 30/9/19

2 min read