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Anson Resources granted trading halt with capital raising news pending

The company’s shares will remain in a trading halt until Tuesday, September 14, or when an announcement is released to the market.

Anson Resources Ltd - Anson Resources granted trading halt with capital raising news pending

Anson Resources Ltd (ASX:ASN) has been granted a trading halt by the ASX as it prepares to make a capital raising announcement.

The halt will remain in place until the start of regular trade on Tuesday, September 14, or until an announcement is released to the market, whichever occurs earliest.

Positive battery test-work

Earlier this week, the company received positive battery test-work results from NOVONIX Ltd, demonstrating its high-purity lithium makes batteries last longer.

NOVONIX compared cathode powder synthesised using commercial metal hydroxide and lithium precursors to Anson’s lithium product to provide real-world comparisons.

Anson’s 99.9% purity lithium carbonate retain more of the available capacity after the first formation cycle, while ultra-high precision coulometric (UHPC) tests clearly showed lower capacity losses.

Paradox affirmation

Anson chairman and CEO Bruce Richardson said the test-work results demonstrated the viability of the company’s flagship Paradox Brine Project in Utah, from which Anson sources its lithium.

“The lithium carbonate and lithium hydroxide produced from the Paradox brines have the necessary specifications that Tier 1 battery makers may require.”

Quick facts: Anson Resources Ltd

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ASX:ASN

Price: 0.092 AUD

Market Cap: $90.11 m

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