Anson Resources extends share purchase plan closing date
The extension recognises the impact COVID-19 has had on the time taken for the prospectus and application forms to reach all shareholders.
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 extension recognises the impact COVID-19 has had on the time taken for the prospectus and application forms to reach all shareholders.
The company is completing the required land and cultural and environmental surveys required for to prepare the plan of operations for the project.
Yellow Cat, which is 40 kilometres from the flagship Paradox Brine Project presents an opportunity to leverage investment in Paradox to develop another world-class project in the area.
A $2 million SPP will be followed by a top-up placement to raise a further $1 million from professional and sophisticated investors.
The company plans to build a production facility at a site 46 kilometres from the extraction wells at the Paradox Brine Project.
The company will seek access to power, natural gas, pipeline Rights of Ways (RoW) and extensions as well as road access.
The PEA results have confirmed the potential for a long-life, sustainable commercial-scale production with upcoming milestones including the beginning of a pre-feasibility study and offtake arrangements.
The Paradox Brine Project is within a mature oil and gas district with brines with historically high published concentrations of lithium.
The company has also raised $600,000 in a placement to help fund a PEA for the Paradox Brine Project in the US.
The halt will be in place until Friday, April 3, or when an announcement is released to the market.
The company is targeting mineral-rich brines in the deepest part of the Paradox Basin near Moab, Utah.
Anson’s consultant Veolia Water Technologies has successfully produced lithium hydroxide monohydrate, which will now be sent to potential customers.
The company has taken another step as it transitions from exploration and development into production and commercialisation.
Anson is targeting mineral-rich brines in the deepest part of the Paradox Basin near Moab in Utah, USA.
Bruce Richardson has acquired further shares in his second on-market transaction this month.
The funding comes from major shareholder Chia Tai, who has made multiple investments since 2017 and not divested any of its shareholdings.
Bruce Richardson has acquired a further 168,000 shares and now holds a total of more than 24 million.
The funding comes from major shareholder Chia Tai, who has made multiple investments in Anson since 2017 and not divested any of its shareholdings.
The company is focused on advancing its flagship Paradox Brine Project in the US state of Utah.
The bromine samples produced from the stage two test work will be offered to potential investors, end users and offtake partners.