Anson Resources Limited (ASX: ASN) is a supplier of minerals and chemical products to the lithium-ion battery industry. Through its flagship Paradox Brine Project in Utah, USA, the company is trying to cater to the growing demand for lithium-ion batteries.
In its Benchmark Mineral Intelligence presentation, the company informed about the recent update of its Paradox Basin Brine Project which is covering 27,000 acres of land. In the recent past, the company has made significant progress with this project.
Source: Company’s Announcement
Exploration drilling at Paradox Basin Brine Project was completed during the March quarter. The company is currently focusing on the production of lithium carbonate (Li2CO3) chemical samples for product qualification testing and for battery cathode manufacturers.
During the March quarter, Hazen Research Inc. completed bench scale test work on the potential of the recovery of high value minerals boron, iodine and bromine from brine at Paradox Brine Project. The testing identified the following recoveries:
- Boron 89%
- Bromine 90%
- Iodine 70%
Bromine oxidation and recovery is low-risk, conventional technology, which will be demonstrated at pilot scale with oxidation specialist partner. As per the company’s announcement, conventional carbonate plant flowsheet is low risk and requires no new technology.
Further, the company also completed the Re-entry drilling of two oil wells - Long Canyon No 2 and Skyline Unit 1. Anson’s drilling programs will be used in the estimation of a JORC Resource, the timing of which remains on track for completion in June quarter of 2019.
The company’s Board of Directors includes highly experienced individuals who have spent a significant amount of time working in the Mining Sector. The company’s Executive Chairman & CEO Mr. Bruce Richardson holds a B.A. (Hons) degree. He has spent 10 years in exploration, mining, and production in public and private companies and along with that he has over 30 years of international business experience with major focus in China.
The company’s Board of Directors includes Mr. Greg Knox who is a qualified geologist with more than 30 years of experience. The company’s other Director Mr. Michael van Uffelen is an experienced director who has held senior executive roles like CFO, and company secretary for multiple ASX-listed companies.
At the time of writing, i.e., on 7 May 2019 AEST 4:00 PM, the stock of the company was trading at a price of A$0.060, up 1.695% during the day’s trade with the market capitalization of ~A$29.4 Mn. The counter opened the day at a price of $0.060 and reached the day’s high of $0.062 and touched a day’s low of $0.060 with a daily volume of around 382,106. The stock has provided a year till date return of 23.38% & also posted returns of -25.32%, -21.33% & -20.27% over the past six months, three & one-month period respectively. It had a 52-week high price of $0.185 and touched 52 weeks low of $0.037, with an average volume of around 843,670.
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