viewAnson Resources Ltd

Anson Resources completes $1.5 million placement to strategic investor

The investment from Shanghai-based Chia Tai Xingye International shows its commitment to Anson’s Paradox Brine Project in the US.

Anson Resources Ltd - Anson Resources completes $1.5 million placement to strategic investor
Recent test work has produced lithium chloride

Anson Resources Ltd (ASX:ASN) has completed the placement of 50 million shares to strategic investor Chia Tai Xingye International for at an issue price of 3 cents per share to raise $1.5 million.

The company issued these shares on Tuesday within its placement capacity and within the provisions of Part 6D.2 of the Corporations Act and Chia Tai now holds 19.58%.

This investment follows on from Chia Tai’s participation in a placement in June 2019 where it purchased 27.5 million shares at an issue price of 6 cents.

Anson’s securities last traded at 3.6 cents.

Funds to advance brine project

The funds are likely to be used to continue advancing the development of Anson’s flagship Paradox Brine Project in Utah, US.

Anson last month produced its first lithium chloride from test work.

This sample will be further processed into lithium carbonate and sent to potential customers to test its suitability for use in their lithium battery cathodes.

The test work aims to produce a 20-kilogram sample of lithium carbonate.

Exploration program

An exploration program is also set to begin alongside the test work programs.

Anson most recently revealed that it plans to re-enter the Skyline Unit 1 and Long Canyon Unit 2 wells to sample brine at Paradox.

Anson established its maiden JORC resource by re-entering old oil wells and this program plans to build upon that resource.

Quick facts: Anson Resources Ltd

Price: 0.027 AUD

Market: ASX
Market Cap: $16.2 m

Add related topics to MyProactive

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


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...



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