Anson Resources breaks ground at Paradox Lithium Project
The company plans to produce its first lithium carbonate in April 2018.
Company
ASX:ASN
Anson Resources Ltd (ASX:ASN) is a junior mineral resources company with a portfolio of minerals projects in key demand-driven commodities. The company's 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.
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The company plans to produce its first lithium carbonate in April 2018.
Shares in the company traded up 43% to $0.105 during the morning session.
The access road is to be upgraded and the drill pad constructed.
The share price has surged in recent months in anticipation of the maiden drill program.
Anson is fully permitted to drill its Paradox Lithium Project.
Planning of the fast-track development of an in-field pilot plant has commenced.
Anson’s flagship project is the Paradox Lithium Brine Project located in Utah, U.S.
Anson is targeting lithium rich brines in the deepest part of the Paradox Basin.
The company remains on schedule to start drilling in the December quarter.
Anson placed 20 million shares to Zhongfan at $0.03 to raise $600,000.
Anson remains on schedule to commence drilling in the December quarter 2017.
The options are priced at $0.025, with Anson last trading at $0.044.
Shares have more than doubled over the past month to $0.039.
Paradox is located an 11-hour drive from the Tesla Gigafactory in Nevada.
There is a lot of market action in the small caps this morning.
Anson is the most active stock on the ASX in morning trade.
In total Anson raised $1.2 million as it progresses to drilling for lithium.
Anson's project is located an 11-hour drive to Tesla's Gigafactory.
Drilling is expected to commence during the December quarter 2017.
Anson is re-entering the well to test super saturated brines for lithium.