Name of the Project
Green River project.

Location
Utah, in the US.

Project Owner/s
Explorer and developer of natural resources Anson Resources.

Project Description
The Green River region hosts multiple large-scale geological structures, including the Ten Mile Graben, Little Grand Wash Fault, and the north-south striking Green River Anticline. These features contribute to favourable extraction conditions, such as high porosity and permeability, necessary for sustainable lithium brine production.

Anson plans to extract lithium and bromine from brine to produce high-purity products using direct lithium extraction technology and conventional flowsheets for all other processing.

Phase 1 is expected to produce about 13 074 t/y of lithium carbonate over a 23-year mine life.

The proposed Phase 2 expansion will target substantial expansion in the production of lithium carbonate and bromine, and will expand the project resources through the re-entry and sampling of historic wells, including Mineral Canyon; Sunburst; and high-grade, large Mississippian formations.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Phase 1 has a pretax net present value, at a 7% discount rate, of $1.31-billion and internal rate of return of 47%, with a payback of two years.

Capital Expenditure
Capital expenditure in Phase 1 is estimated at $495-million.

Planned Start/End Date
First production of battery-grade lithium carbonate in 2025.

Latest Developments
Anson Resources has secured A$14-million in firm commitments to advance the project, with the placement drawing strong support from new and existing institutional investors.

The equity raise, completed in a single tranche at A$0.08 a share, will fund further exploration and an updated Joint Ore Reserve Committee-compliant resource, as well as engineering work for the definitive feasibility study and front-end engineering design. Proceeds will also support low-cost maiden drilling at the company’s Yellow Cat uranium project and provide general working capital.

The issue price represents a 20% discount to Anson’s last closing price on November 18 and a 15.2% discount to the 15-day volume-weighted average price. Participants will receive one free-attaching listed option for every two shares subscribed for, exercisable at A$0.12 and expiring three years from issue. The options will be offered under a prospectus to allow for the secondary trading of shares issued on exercise.

Executive chair and CEO Bruce Richardson has said the oversubscribed placement has demonstrated investor confidence in the lithium sector and in Anson’s development strategy at Green River, which he has described as benefiting from strong infrastructure, advanced permitting, established financing and offtake partnerships.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Anson Resources, tel +61 478 491 355 or email info@ansonresources.com.