Tag: Anson Resources Limited

Highlights:

• Anson and POSCO have made strong technical and commercial progress on cooperation at the Green River DLE Demonstration Plant, with workstreams advancing positively across all review areas.
• Cooperation between the parties has strengthened through detailed engineering assessments and senior-level engagement, supporting POSCO’s ongoing evaluation of the project.
• POSCO advises that completion of its due diligence and internal approval process is now expected in Q1 2026, providing a clear timeline for the next stage of the proposed investment.

Anson Resources Limited (ASX:ASN) (Anson or the Company) provides the following update on the ongoing cooperation with POSCO Holdings Inc. (POSCO), announced 30 June 2025, regarding the development of a DLE Demonstration Plant at its Green River Lithium Project in Utah, USA.

Anson and POSCO continue to make positive progress across all workstreams for the planned demonstration plant. Over the past several months:

• Multiple POSCO engineering teams have conducted site visits to Green River, undertaking detailed technical assessments and reviewing site and local infrastructure, brine supply, and development pathways.
• Anson and POSCO representatives have held constructive meetings including visits by senior management to South Korea and the U.S.A, advancing technical, commercial, and operational discussions and further aligning both parties on development objectives.

These interactions have strengthened the cooperation between the companies and have contributed meaningfully to POSCO’s ongoing due diligence and internal evaluation process.

POSCO Holdings is progressing its due diligence and internal review associated with the planned demonstration plant investment. Due to the ongoing completion of basic engineering studies, the anticipated finalisation date for this review has been shifted from December 2025 to Q1 2026. Anson is continuing site preparations and to engage with local suppliers and the schedule to break ground remains on track.

The Green River demonstration plant investment is part of POSCO Group’s secondary battery materials strategy, which centres on securing North American lithium resources and advancing future technological competitiveness.

Based on the successful operation of the U.S. demonstration plant, POSCO Holdings plans to bring its independently developed DLE technology to market and accelerate investment and commercialization efforts for untapped lithium brine resources across North America.

The Green River DLE demonstration plant represents a major strategic investment by POSCO Group as it works to lead in securing future-critical technologies essential to the growth of its lithium business in North America.

Anson looks forward to providing further updates as the collaboration advances.

Executive Commentary
Executive Chairman & CEO, Mr. Bruce Richardson commented:
“POSCO has been an outstanding partner to work with, and the quality of cooperation between our teams has been exceptional. Over recent months, our joint technical reviews, site visits, and detailed engineering discussions have reinforced a strong alignment of objectives and a shared commitment to advancing a world-class DLE demonstration plant at Green River. The collaboration has been constructive, highly professional, and deeply valued by Anson. We look forward to continuing this positive momentum as POSCO progresses its due diligence and internal evaluation into early 2026.”

About POSCO Holdings:
POSCO Holdings Inc. is a leading South Korean industrial group with strategic investments across steel, energy, and battery materials. POSCO Group is developing a global supply chain to support the transition EV and has invested in a total of 93,000 tonnes of lithium production annually in Argentina and South Korea. The company has made significant investments in both brine and hard-rock lithium resources across South America and Australia and is advancing proprietary Direct Lithium Extraction (DLE) technologies to accelerate low-carbon lithium production.

This announcement has been authorized for release by the Executive Chairman and POSCO

Contact:
Bruce Richardson
Executive Chairman and CEO
E: info@AnsonResources.com

William Maze
Head of Investor Relations
E: investors@AnsonResources.com

Ph: +61 7 3132 7990 Ph: +61 7 3132 7990
www.Ansonresources.com
Follow us on Twitter @Anson_ir

SOURCE: Anson Resources

Highlights:

• Anson Resources (via its 100% owned subsidiary A1 Lithium) and LG Energy Solution have executed a Definitive Offtake Agreement (“Definitive Offtake Agreement”) for the supply of battery grade lithium carbonate from Anson Resources’ 100% owned Project within the Paradox Basin.
• Subject to the satisfaction of customary conditions precedent (summarised in the annexure), the Initial 5-year term is expected to commence in 2028, with the ability to extend for a further five years.
• LG Energy Solution to purchase 4,000 dry metric tonnes per year and specifies the operational and logistical requirements for the delivery of product.
• Pricing is determined using a formula-based mechanism referencing market prices for battery-grade Lithium Carbonate.
• LG Energy Solution is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems.

Anson Resources Limited (ASX:ASN) (Anson Resources or the Company) is pleased to announce that it has completed negotiations with LG Energy Solution and on the Definitive Offtake Agreement for the supply of battery-grade Lithium Carbonate from its 100% owned Project within the Paradox Basin in Southern Utah.

The Definitive Offtake Agreement provides for the supply of up to 4,000 dry metric tonnes per annum (tpa) of battery-grade Lithium Carbonate produced at the Project, expected to commence in 2028, representing approximately 40% of the Project start-up production capacity of ~10,000tpa.

LG Energy Solution is an ideal partner for Anson Resources with its diversified customer base of tier one OEMs and energy storage solutions (ESS) and strong investment to expanding production in North America. LG Energy Solution has eight facilities currently operating or under construction in North America, with stand-alone facilities in Michigan and Arizona and five joint venture facilities with major automakers.

Signing of the Definitive Offtake Agreement with LG Energy Solution marks another key milestone for the Company’s develops in the Paradox Basin. This Definitive Offtake Agreement will become effective subject to Anson Resources commencement of commercial production in the Paradox Basin and offtake product qualification with LG Energy Solution.

The Paradox Basin is a globally significant lithium asset, which the Company through its 100% owned USA subsidiary A1 Lithium, is working to develop into one of the largest lithium resources in the United States. The Company is conducting exploration and test work of the brine, that is known to exist, across multiple areas in the Paradox formation. This work is on-going and if successful will support the Company’s theory that the brines of the Paradox Basin contain one of the largest lithium resources in North America.

This Definitive Offtake Agreement is also an essential part of the critical path for debt funding at the Final Investment Decision stage.

Anson Resources Executive Chairman and Managing Director Bruce Richardson commented:

“Anson is delighted to have concluded our definitive offtake agreement with LG Energy Solution for at least 40% of our production. LG Energy Solution not only has a diversified customer base of tier one OEM’s they also have many energy storage solutions (ESS) customers.

Anson recognized the unstoppable paradigm shift in the US supply chain for electric vehicle battery materials and ESS and the key role that Korean battery manufacturers are playing.

This shift in manufacturing investment has led to an increased demand for lithium produced in the US, not only to shorten supply chains geographically but also increase US content of electric vehicle batteries and electric vehicles,

Anson identified this change, targeted its offtake marketing activities to the companies that have made these investments into North America and in particular, the US where Anson development work in the Paradox Basin in Southern Utah is strategically positioned.

This definitive offtake agreement establishes the foundation for a long-term partnership and we are proud that we will be supplying low cost US made lithium from the Paradox Basin to LG Energy Solution a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems.”

About Anson Resources Ltd
Anson Resources (ASX:ASN) is an ASX-listed mineral resources company with a portfolio of minerals projects in key demand-driven commodities. Its core asset is the Paradox Lithium Project in Utah, in the USA. Anson is focused on developing the Paradox Project into a significant lithium producing operation. The Company’s goal is to create long-term shareholder value through the discovery, acquisition and development of natural resources that meet the demand of tomorrow’s new energy and technology markets.

www.ansonresources.com Follow us on Twitter @anson_ir

Forward Looking Statements: Statements regarding plans with respect to Anson’s mineral projects are forward looking statements. There can be no assurance that Anson’s plans for development of its projects will proceed as expected and there can be no assurance that Anson will be able to confirm the presence of mineral deposits, that mineralisation may prove to be economic or that a project will be developed.

Competent Person’s Statement 1: The information in this announcement that relates to exploration results and geology is based on information compiled and/or reviewed by Mr Greg Knox, a member in good standing of the Australasian Institute of Mining and Metallurgy. Mr Knox is a geologist who has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity being undertaken to qualify as a “Competent Person”, as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and consents to the inclusion in this report of the matters based on information in the form and context in which they appear. Mr Knox is a director of Anson.

SOURCE: Anson Resources

Anson Resources and POSCO Holdings have signed a non-binding MoU to develop a DLE Demonstration Plant at Green River Lithium Project

• Anson Resources and POSCO Holdings have signed a non-binding MoU to develop a large scale DLE Demonstration Plant at Green River.
• POSCO Holdings plans to construct a Demonstration Plant to test DLE technology and has initiated a review of Anson’s Green River Lithium Project.
• POSCO Holdings plans to fully fund the plant, invest in all required infrastructure and operating costs, including a site lease fee, for the scaled demonstration testing.

Anson Resources Limited (ASX:ASN) (Anson or the Company) is pleased to announce that it has executed a non-binding Memorandum of Understanding (MoU) with POSCO Holdings Inc. (KRX: 005490, NYSE: PKX) to collaborate on the construction of a demonstration plant at the Green River Lithium Project (“Project“) in the Paradox Basin, southern Utah, USA. The parties will also explore future partnership opportunities at the Project.

POSCO Holdings will make an investment decision on the demonstration plant at the Green River Lithium Project through the finalisation of its due diligence and internal review, expected to be completed by December 2025.

The two companies will also explore potential business cooperation opportunities, including joint investment in the Project, contingent on positive feasibility outcomes.

The Green River Lithium Project, owned by Anson Resources’s subsidiary, Blackstone Minerals NV LLC, offers compelling advantages, including low forecast production costs, ready access to existing infrastructure and a skilled local workforce. The Project sits in a strategic location within the United States to support the growing demand for domestically sourced EV battery materials.

POSCO Holdings has been conducting long-term R&D and investment reviews on next-generation lithium resources such as brine and geothermal brine for several years, utilising its comprehensive experience in lithium extraction and operational know-how, paired with its deep experience in chemicals trading and distribution.

The demonstration plant is a scaled-up version of a pilot plant designed to validate a new industrial process at a larger, commercially relevant scale before full-scale construction. The Demonstration Plant will operate on a continuous process basis to closely resemble that of the anticipated future commercial plant as well as generating significant quantities of product.

Executive Commentary
Executive Chairman & CEO, Mr. Bruce Richardson commented:
“This MoU agreement with POSCO Holdings represents another significant milestone in our commercialisation strategy and underscores the progress Anson has made in de-risking the Green River Lithium Project. The Project’s ongoing progress continues to attract additional top-tier partners who are contributing to the establishment of Green River as a globally attractive asset.

POSCO Holdings is a world-class chemicals producer with deep operational experience, and their interest further validates the quality and strategic potential of the Project.

As the global supply chain for lithium shifts toward secure, domestic sources, Anson is uniquely positioned to support this demand from within the U.S., offering low-cost, high-purity lithium production.

With forecast-leading production costs, strong local infrastructure, and a highly skilled workforce, the Green River Lithium Project is emerging as one of North America’s most compelling lithium development opportunities.”

POSCO Holdings spokesperson commented:
“This collaboration with Anson Resources represents a strategic opportunity for POSCO Holdings to strengthen our position in the North American lithium market. Through collaboration on the Green River Lithium project, we will verify the commercialization potential of DLE technology and its business feasibility in the United States. We believe our operational know-how, commercial expertise, combined with Anson’s high-quality asset, can create significant value for both companies and contribute meaningfully to the US supply chain and manufacturing.”

About POSCO Holdings
POSCO Holdings Inc. (KRX: 005490) is a leading South Korean industrial group with strategic investments across steel, energy, and battery materials. POSCO Group is developing a global supply chain to support the transition EV and has invested in a total of 93,000 tonnes of lithium production annually in Argentina and South Korea. The company has made significant investments in both brine and hard-rock lithium resources across South America and Australia and is advancing proprietary Direct Lithium Extraction (DLE) technologies to accelerate low-carbon lithium production.

This announcement has been authorized for release by the Executive Chairman and POSCO Holdings.

About Anson Resources Ltd
Anson Resources (ASX: ASN) is an ASX-listed mineral resources company with a portfolio of minerals projects in key demand-driven commodities. Its core assets are the Green River and Paradox Lithium Project in Utah, in the USA. Anson is focused on developing these assets into a significant lithium producing operations. The Company’s goal is to create long-term shareholder value through the discovery, acquisition and development of natural resources that meet the demand of tomorrow’s new energy and technology markets.

For further information please contact:

Bruce Richardson
Executive Chairman and CEO
E: info@Ansonresources.com
Ph: +61 7 3132 7990

Will Maze
Head of Investor Relations
E: investors@Ansonresources.com
Ph: +61 7 3132 7990

SOURCE: Anson Resources

Highlights:

• A non-binding Letter of Interest received from the US EXIM Bank for up to US$330M in long term debt financing for the construction of a lithium production plant at the Paradox Basin in Utah, USA.
• US EXIM is the official export credit agency of the US Federal Government, whose objectives include strengthening America’s Supply Chains through it’s “Make More in America” Initiative.
• Anson continues to advance development of its globally significant lithium projects located in the Paradox Basin, Utah.

Anson Resources Limited (ASX:ASN) (Anson Resources or the Company) is pleased to announce that its 100% owned US subsidiary, A1 Lithium, has received a non-binding and conditional Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) to provide a debt funding package of up to US$330 million (A$500 million1) for the construction of a lithium production plant in Utah, USA, under the “Make More in America” Initiative.

The LoI from US EXIM represents a material step in Anson’s project funding strategy and is recognition of the strong engagement the Company has had with the US Government and with industry partners in the United States.

Anson’s Executive Chairman and CEO Bruce Richardson commented:

“We are delighted to receive this Letter of Interest from US EXIM following extensive collaboration with multiple government and industry stakeholders in the United States. This LoI reflects our continued strong development, permitting progress and community engagement efforts in the United States and Southern Utah in particular.

The United States seeks to develop a domestic and reliable source of critical minerals and the Paradox Basin, which we believe is the largest source of lithium in the United States, has a significant role to play. Our DLE technology will produce one of the most environmentally friendly sources of lithium globally. This will support the development of the new energy economy, from electric vehicles to drones and defense.”

Anson’s Chief Financial Officer Matthew Beattie commented:

“This LoI reflects the Paradox Project in Sothern Utah’s potential to be a major source of new, high paying jobs and stimulate investment in the region. While non-binding, the Company views the LoI as an important step in advancing our project financing plan for the development of our world class Paradox Basin projects. If finalised, the US EXIM facility will make up a substantial portion of the overall funding requirements.”

The LoI from EXIM does not represent a financing commitment and is a preliminary step in the formal EXIM application process. The debt financing is subject to the satisfactory completion of due diligence, the negotiation and settlement of final terms, and the negotiation of definitive documentation. There can be no assurance that the debt financing will be completed on the terms as described above or at all. The Company will update the market upon reaching a definitive agreement with US EXIM for funding support.

About the Export-Import Bank of the United States
US EXIM is the official export credit agency of the United States of America. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.

As published in its 2023 Annual Report, EXIM has current exposure to US$1,476.7 billion in lending across 148 countries around the world. The default rate across the portfolio is 0.98%, reflecting the high standards of credit required to obtain EXIM financing. Furthermore, EXIM’s charter requires that it supplement and encourage, not displace, private capital.

For further information please contact:

Will Maze
Head of Investor Relations
E: investors@ansonresources.com
Ph: +61 7 3132 7990
www.ansonresources.com
Follow us on Twitter @anson_ir

SOURCE: Anson Resources

• Final approval from State of Utah, Department of Natural Resources, Division of Water Rights,
• First State of Utah approval related to large scale lithium production at Green River,
• The approval process confirms the water resources and surrounding areas will not be negatively affected by brine extraction.

Anson Resources Limited (ASX:ASN) (Anson Resources or the Company) is pleased to announce that today the State of Utah, Department of Natural Resources, Division of Water Rights (the Division) confirmed approval giving A1 Lithium the right to extract brine at its Green River, Utah lithium project. This is a key step required for A1 Lithium to produce environmentally-friendly clean lithium to supply the United States and is vital to expanding the Country’s domestic supply for the transition to electric vehicles and the decarbonization of the US economy. Importantly, the project will have a substantial positive impact on the local economy providing well-paying full-time jobs and contributing millions in taxes.

Given the state’s vast resource and mining-friendly environment, Utah has potential to become the largest clean lithium producer in the USA. A1 Lithium estimates initial phase 1 annual production of approximately 10,000 tons of lithium carbonate, enough to power 250,000 electric vehicles a year. “Utah likely holds one of the largest economic lithium resources in the USA and can become the Texas of the electric vehicle era. A1 Lithium’s project could make Utah the largest producer of clean lithium in the country.” Said Greg Knox Senior Geologist for A1 Lithium. Brian Somers, President of the Utah Mining Association said “Utah potentially has the largest economic lithium resource in the US located in the Paradox Basin and is currently one of only two states producing lithium. Utah holds the potential to be the largest producer of lithium in the country and we need projects like A1 Lithium’s to achieve that goal.”

The construction of the project will directly employ up to 500 local jobs and ongoing operations have the opportunity to reintegrate the Green River community. “A1 Lithium’s project will directly provide 60 high-paying full-time jobs for people in the Southern Utah community and can potentially create an additional 58 jobs in order to support the local community’s economic growth. This project can restore the prosperity of Green River that was lost when the mining industry and military left in the 1960’s and 1970’s. It will be transformational for our community” said Mayor of Green River Utah, Ren Hatt.

The process A1 Lithium employs to extract lithium is an advanced technology called Direct Lithium Extraction (DLE) which is an environmentally responsible and sustainable approach. In fact, its unique aspects will help qualify the project as one of the cleanest and greenest sources of lithium in the world. The process uses dramatically less water than other lithium mining methods, produces significantly less carbon dioxide than hard rock mining and brine evaporation ponds, efficiently utilizes existing structures and land to reduce its footprint, and employs a closed loop process to ensure the efficient use of resources. Michael Swenson, a local consultant who was raised in Emery County noted “Clean domestically sourced lithium for EVs presents the single greatest opportunity to reduce the emissions from vehicles along the Wasatch Front. We should embrace this opportunity to use Utah lithium to improve Utah air, improve rural economies, and provide greater opportunities to live in rural communities like Green River.”

A1 Lithium’s Green River lithium project is key to the US becoming independent of China’s dominance in the battery supply chain. “If the U.S. is going to compete in the global minerals race, we must support the responsible use of our vast domestic resources such as those found in the Paradox Basin. With a proposed extraction process that is specifically designed to minimize impacts to the environment and recycles 95 percent of water used, A1 Lithium demonstrates why mined-in-America projects ensures that the U.S. supply chain start with minerals that are produced at the highest standards in accordance with the world’s top environmental, labor and safety criteria.” Rich Nolan, President and CEO, National Mining Association

A1 Lithium’s President, Bruce Richardson commented, “This approval to extract brine is significant as it is the first granted to a company by the State of Utah for the processing of brine for lithium extraction at Green River and reflects the quality of our project, our partners and our community support. Importantly, the Utah Department of Environmental Quality recently approved a underground injection control well for A1 which demonstrates that there is no connection between the brine that A1 Lithium intends to extract and surface waters including rivers and underground sources of drinking water. The process we have chosen to extract lithium returns the waste brine to the same formation from which it is extracted and is therefore a non-consumptive process, unlike evaporation ponds. This process has less impact upon the environment, which is one of our key objectives.”

Will Maze
Head of Investor Relations
E: investors@ansonresources.com
Ph: +61 7 3132 7990

SOURCE: Anson Resources

Anson Resources Achieves Key Permitting Milestone

Highlights:

• Anson has been granted an Underground Injection Control (UIC) application for Class V wells to dispose of the processed brine at its Green River Lithium Project,
• The Utah Department of Environmental Quality has granted the application after a public comment consideration,
• The disposal wells will be located on Blackstone Minerals purchased private property,
• Application is based on production of 10,000 Li2CO3 tons/annum,
• Application applies for the development of 4 disposal wells,
• Conditions for Class V disposal wells include:
  • Brine must be returned to the same Formation it was extracted from, not necessarily from the same horizon as extraction (resulting in no dilution),
  • Volume and geochemistry of disposed brine must be like that of extracted brine,
  • These requirements are met using the Direct Lithium Extraction.

Anson Resources Limited (ASX:ASN) (Anson or the Company) through its 100% owned subsidiary Blackstone Mineral NV LLC is pleased to announce that its Underground Injection Control (UIC) application has been approved by the Utah Department of Environmental Quality, Division of Water Quality for its Green River Lithium Project (Project), in the Paradox Basin in south-eastern Utah, USA. The Division of Water Quality has granted the application after its review and consideration of public comments. This UIC application will enable Blackstone to re-inject the spent brine from its Direct Lithium Extraction (DLE) processing plant back into subsurface formations.

Anson is planning to drill new disposal wells, at the time of construction of the production plant, for the injection and disposal of the spent brine from its lithium extraction process as part of the development of the project into production. Several historical plugged and abandoned oil and gas wells are in the area and intersected similar brine reservoirs and confirmed the existence of horizons that had been encountered in the Green River area which can be used as the disposal zones. Some of these wells have already been converted into disposal wells which indicates the ability for those horizons to absorb the waste brine.

The disposal wells will be located on the private property recently purchased by Blackstone, see ASX Announcement 13 September 2023. When the lithium processing plant has reached its optimal production rate there will be four disposal wells in operation which have been included in the one application, see Figure 1.

The spent brine will be pumped via the injection wells into the Paradox Reservoirs, at shallower horizons into the most permeable rock formations reducing the required pumping pressure.

Archaeological, environmental and site surveys have been conducted over the proposed areas and these reports have already been submitted to the Utah Division of Oil, Gas and Mining (UDOGM) as part of the drilling application. These surveys, which showed no issues with the already disturbed site, were carried out over the proposed production site, extraction and disposal well locations and surrounding areas. Access to these sites will be via county roads that exit the I70 interstate and already developed roads in existence in the Blackstone property resulting in minimal disturbance.

The UIC application was a detailed report and included:

• Maps of the Area of Review (AOR) – 2-mile radius surrounding the proposed disposal wells,
• Maps and cross sections of underground sources of drinking water (USDW),
• Maps and cross sections of local geologic lithology, structures, and hydrologic settings,
• Injection well construction plan and operational plan,
• Corrective action plan,
• Monitoring, recording and reporting plans,
• Plugging and abandonment,
• Financial Responsibility (reclamation).

Anson’s research into the surrounding historic wells has shown that test-work, such as core sampling and flow testing, has been carried out on some of the wells which was suitable for use in providing additional information for the application. Drill Stem Tests were also carried out through some of these intervals which provides information such as porosity and permeability which will assist in the determination of the horizons to be used for disposal.

Executive Chairman and CEO Bruce Richardson commented, “This approval from the Government of the State of Utah demonstrates that Anson can continue to progress the project at Green River by following the regulatory process. Progress in the past 12 months at Green River has been much faster than that of the Paradox due to the ownership of the surface area and the support from the local and state government departments and representatives for which we are extremely grateful. The reinjection of the brine back into the geological formation from which it is originally extracted protects other minerals contained in the brine for future use. The Company continues to engage with the local community to ensure that the best options for the development of the project into production are selected. We look forward to an open dialogue with the community and government as the remaining permits are considered as we move closer to production.”

Positive ESG Aspects
The drill program is designed to have as little impact on the environment, social and recreational activities as possible within the drill location areas which is further increased by carrying out the program on private property. There will be minimal new ground disturbance as the drill pads will be located on flat ground in areas that have already been disturbed.

The use of areas where there has already been ground disturbance is consistent with Anson’s aim of developing a sustainable project and minimizing environmental impact.

Conservation of Water Aquifers
The exploration drilling program has been designed to ensure that there is no interaction between the surface waters and the supersaturated lithium brines with the well-being steel cased and cemented in place.

The majority of the water-yielding rock units in the area are part of either an upper or lower hydrologic system. The two systems are separated by the impermeable salt beds of the Pennsylvanian Paradox Formation, which underlies the counties in the region (Weir, Maxwell & Zimmerman, 1983) which is further supported by the salinity values intersected in this “surface” drilling recently completed by Anson.

Contact Info:
William Maze
Head of Investor Relations
investors@ansonresources.com

SOURCE: Anson Resources

Pilot unit production is expected to commence in July 2024

Highlights:
Anson Resources has signed an agreement with Koch Technology Solutions for testing of a Li-Pro™ Lithium Selective Sorption (LSS) pilot unit using brine from the Green River Lithium Project.

The pilot unit will be located on Anson Resources’ 100% owned private land at Green River and process fresh brine under commercial production conditions from Bosydaba#1 well into lithium chloride, that may be used to produce battery-grade lithium carbonate.

The pilot unit results will be used for process optimisation and product verification for a proposed commercial scale plant. Results will provide important inputs for a full-scale Li-Pro™ unit within Anson Resources’ planned lithium extraction facility.

Pilot unit production is expected to commence in July 2024.

Anson Resources and KTS have agreed on a cost sharing framework involving an investment by KTS through a convertible note to cover the Green River Lithium Project piloting development.

Anson Resources Limited (ASX:ASN) (Anson Resources or the Company) is pleased to announce its collaboration with Koch Technology Solutions (KTS), a Koch Engineered Solutions (KES) company, for the commissioning of its Li-Pro™ process pilot unit for lithium extraction at the Company’s Green River Lithium Project (Project) in Utah, USA. The pilot will be jointly funded by Anson Resources and an investment from KTS through a convertible note as the companies work to develop a further commercial relationship.

KTS completed their detailed treatability study in May 2024 using brine from Anson Resources’ Green River Lithium Project. KTS’ testing has indicated exceptional results for lithium recovery and element rejection rates and suggests superior results to those achieved in Anson Resources’ Definitive Feasibility Study, see ASX announcement 8 September 2022 . The Company is in the process of determining any revisions to CAPEX and OPEX from the results achieved.

Through an agreement completed on 21 st June 2024, the companies will partner to expedite the commissioning of the pilot unit. Results from the pilot unit, if successful, will provide detailed feasibility engineering and cost data for deployment of the full-scale Li-Pro™ process at the Green River Lithium Project’s lithium extraction facility.

The pilot unit is expected to be operational in July 2024 at Anson Resources’ private land in Green River, Utah and will run 24 hours a day, 7 days a week for the next two to four months. The unit will process fresh brine from the Company’s Bosydaba#1 well into lithium chloride, replicating commercial production conditions. This pilot unit is in addition to Anson Resources’ operational sample demonstration plant (“SDP”) at Green River that utilises the existing flow sheet , see ASX announcement 15 April 2024. The two direct lithium extraction (“DLE”) technologies will be tested concurrently using brine from the collected during the drilling program of the Bosydaba#1. Test results of the brine collected from the Leadville Formation, Mississippian Units indicated that lower levels of contaminants, higher porosity, and higher pressure than at the Paradox Lithium Project, see ASX announcement 20 th May, 2024.

Anson Resources and KTS have agreed to a commercial arrangement whereby KTS, via a convertible note investment, helps pay for piloting, testing, and detailed feasibility engineering costs for the Li-Pro™ pilot unit at Green River (see material terms below).

If the initial pilot work is successful and if Anson Resources and KTS mutually agree to move into a commercial Li-Pro™ unit, further costs could be funded through additional investment from KTS. KTS’ Li-Pro™ process is used in other operational pilot facilities elsewhere in North America. KTS has announced that the Li-Pro™ process is being used in its commercial-scale lithium extraction demonstration plant near El Dorado, Arkansas. That plant was commissioned in April 2024 and is believed to be the largest continuously operating DLE facility in North America.

Anson Resources Executive Chairman and CEO Bruce Richardson commented:
” Anson Resources is focused on fast-tracking the development of our Green River Lithium Project. This announcement highlights our commitment to accelerating development while enhancing both Project returns and environmental credentials. Partnering with one of the USA’s preeminent technology providers, KTS, a leader in delivering commercialized lithium extraction processes, significantly reduces project risk through their advanced technology and engineering experience.

Importantly, our recent drilling work at Bosydaba#1 1 provides the ability to supply fresh brine identical to real operating conditions. This is a step-change for the Company and will allow us to super-charge development, comparing the output of the existing DLE extraction and the KTS Li-Pro™ processes to achieve the best results for our investors. The brine is slightly different to that of the Paradox Lithium Project and several USA companies have technologies that can be applied to to extract the lithium from the brine. At this stage of the Green River Lithium Project, we are looking at several technologies that can provide the company with the best outcome for extraction and the downstream purification to electric vehicle grade lithium carbonate.

The development of the sample demonstration plant provides the utilities and other infrastructure that is needed to conduct test work with technology providers, and we are delighted that KTS has agreed to locate this pilot unit at our Green River site and we look forward to a long a productive relationship. Ensuring domestic supply has been a critical focus of the Company and today’s announcement is a significant step towards Anson Resources building a commercial scale battery grade lithium carbonate plant.”

Martin Rizo – Commercial Director – Americas for KTS noted:
” Green River has the potential to become a key U.S. domestic battery grade Lithium Carbonate project. The site’s existing infrastructure and strategic location combined with A1 Lithium’s lithium extraction experience will support KTS in efficiently delivering and operating our Li-Pro™ pilot unit. KTS is excited to be a part of this significant opportunity in the U.S. domestic lithium supply chain.

About Koch Technology Solutions
KTS is the technology licensing business of Koch Engineered Solutions (KES), is a private company established in 1945. KTS creates value for its customers across a growing portfolio of technologies including direct lithium extraction, the polyester value chain, and 1,4-Butananediol plus its derivates. KTS combines its exclusive technologies, expertise, and capabilities with those of other KES companies to provide overall solutions to optimize customer’s capital investments and existing manufacturing assets.

Investor and Media Contact:
William Maze
+1 949-508-7834
investors@ansonresources.com

This announcement has been authorized for release by the Executive Chairman and CEO.

1 – See ASX announcement 20 May 2024

SOURCE: Anson Resources

 

• Cornerstone binding offtake agreement provides strong market validation of Anson Resource’s projects in the Paradox Basin in Utah

Anson Resources Limited (ASX:ASN) is pleased to announce that it has completed negotiations with LG Energy Solution (KRX: 373220) and executed its first binding offtake term sheet to supply battery-grade lithium carbonate from its project in the Paradox Basin in southern Utah, USA.

The offtake term sheet calls for Anson to supply up to 4,000 dry metric tonnes per year of battery-grade lithium carbonate produced at the Project, which is expected to begin operations in 2027. The associated volumes represent approximately 40 percent of the Project’s start-up production capacity of 10,000 tonnes per year.

This cornerstone offtake agreement provides strong market validation of Anson’s project, 100% owned through its wholly owned US subsidiary, A1 Lithium Inc., and also demonstrates that it can produce high-quality product while maintaining its strong commitment to ESG standards. The Company is building a significant presence in the US market with continued growth through further investment in developing its Projects in the Paradox Basin.

This development is a significant strategic step for the onshoring and expansion of the domestic critical minerals supply chain that is key to li-ion battery manufacturers and hastened by the US Inflation Reduction Act (IRA). Korean and Japanese companies have committed to building large battery manufacturing facilities in the United States and are seeking IRA-compliant lithium to supply those projects. Anson is proud to be an important strategic partner in the growing US critical minerals supply chain.

LG Energy Solution is the ideal partner for Anson Resources, with its diversified customer base and strong investment in expanding production in North America. LG Energy Solution has eight facilities currently operating or under construction in North America, with stand-alone facilities in Michigan and Arizona and six joint venture facilities with major automakers.

Signing the binding term sheet with LG Energy Solution marks another key milestone for the Project following majority completion of all permitting and commissioning of the Company’s Sample Demonstration Plant. The term sheet or subsequent definitive agreement will become effective subject to A1 Lithium making a final investment decision and the start of commercial production. Anson continues to progress negotiations with other potential global customers.

The Paradox Basin is a globally significant lithium asset, on which the Company is conducting exploration and test work of the brine known to exist across multiple zones in the Paradox Basin. This work is on-going and if successful will support the Company’s theory that the Paradox Basin contains one of the largest lithium resources in North America.

Based on a definitive feasibility study (DFS) announced on September 8, 2022, phase one of the Company’s Project is forecast to produce 10,000 tonnes per year of battery-grade lithium carbonate. The Project also has world-class ESG credentials, thanks in part to the natural overpressure of the brine, meaning it is pushed to the surface without the need to pump.

Further, the Company employs the use of cutting-edge lithium extraction technology which use a fraction of the water needed for traditional hard rock or evaporation extraction methods.

Anson Resources CEO Bruce Richardson commented:
“Anson has recognized the unstoppable paradigm shift in the expanding US supply chain for electric vehicle battery materials, and the key role that Korean and Japanese battery manufacturers are playing*. The Inflation Reduction Act (IRA) along with other US policy initiatives have resulted in significant investment in new battery manufacturing capacity in North America to meet growth in demand for electric vehicles and the continued momentum toward the electrification of the economy in the US. This shift in investment has led to an increased demand for lithium produced in the US, not only to shorten supply chains geographically but also increase US content in li-ion batteries and electric vehicles, to meet IRA incentive requirements. Anson’s assets in the Paradox Basin in southern Utah are strategically positioned to benefit from these momentous trends. We are delighted to have reached agreement with LG Energy Solution allowing us to execute our first binding offtake term sheet for at least 40% of our production. This establishes the foundation for a long-term partnership and we are proud that we will be supplying US made lithium from the Paradox Basin to LG Energy Solution, a respected global leader in the lithium battery value chain, building out the largest battery manufacturing capacity in the US.”

*Matt Pollard & Tim Buckley, Clean Energy Finance, “A Value Added Critical Minerals Agreement for Australia and Korea” – June 2023

Contact Details

Media:
Cindy Gubler
Wilkinson Ferrari & Co
Email: cindy@wfandco.com
Cell: +1 801-971-5639

Investors:
William Maze
Anson Resources | A1 Lithium
investors@ansonresources.com
+1 949-508-78234

SOURCE: Anson Resources