Why are Anson (ASX:ASN) shares trading 22% strong?

Highlights

  • Anson Resources (ASX:ASN) has announced impressive results from test work conducted by NOVONIX (ASX:NVX) for high performance lithium-ion batteries.
  • Anson’s 99.9% purity outperformed commercially available battery grade Li ₂CO ₃ in lithium-ion battery cells.
  • Following this announcement, Shares of Anson Resources soared by over 22% to trade at AU$0.120 on the ASX.

The share price of ASX-listed Australian exploration company Anson Resources Limited (ASX:ASN) jumped more than 22% after the Company announced that it has achieved positive results from test work conducted by NOVONIX for quality lithium-ion batteries using Anson’s high purity lithium carbonate (Li ₂CO ₃) and lithium hydroxide (LiOH.H₂O).  

The test results stated:

  • To provide real-world comparisons, NOVONIX juxtaposed cathode powder synthesized using commercial metal hydroxide and lithium precursors to Anson’s lithium product. Cells underwent Formation (FM), Ultra-high precision coulometric cycle testing, Long-term cycle performance testing & High temperature storage (STO) tests.
  • Anson’s 99.9% purity outperformed commercially available battery grade Li ₂CO ₃ in lithium-ion battery cells, particularly, similar or better first cycle efficiency and lower gas production during formation cycles than reference material.
  • Li ₂CO ₃ test results suggested that Anson product has a longer lifespan compared to commercially available battery grade Li₂CO₃.

The samples used in the testing were created by Anson Resources from brine extracted from its Paradox Brine Project. The Company said that the outcomes of this test work will be shared with potential offtake partners and potential customers during Anson future marketing campaigns.

The stock ASN was spotted trading 17.346% higher at AU$0.115 per share at 1:30 PM AEST.

Bottom Line

The test work performed on Anson lithium represent a longer battery life. Besides, the purity of the Anson product provides it with a performance advantage against existing commercial products which is likely to attract lithium-ion producers that are targeting to provide a high-performance product.

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