- Anson Resources (ASN) signs LOI to acquire more than 140 acres of private industrial use land for its Green River lithium project in the Paradox Basin, Utah
- The company will pay the current landowners US$2.4 million (A$3.6 million) to complete the purchase terms
- The proposed agreement includes water rights, allowing ASN to extract water from the Colorado or Green Rivers, as well as oil and mineral rights
- The site has easy access to the national rail network, interstate road system and gas and power infrastructure
- ASN shares last traded at 19.5 cents.
Anson Resources (ASN) has signed a letter of intent (LOI) to acquire 140.39 acres of private industrial use land for its Green River lithium project in the Paradox Basin, Utah.
The company reported it would use the tenement for its proposed mineral extraction and processing plant, located less than one kilometre from the project.
Anson has agreed to pay the current landowners US$2.4 million (A$3.6 million) to complete the purchase terms. The company has exclusive rights to the property for purchase completion before April 2024.
The proposed agreement includes water rights, allowing ASN to extract water from the Colorado or Green Rivers, as well as oil and mineral rights.
The company reported the site being acquired has easy access to the national rail network, interstate road system and gas and power infrastructure.
The new landholding contains 1265 placer claims over a 106.2 square kilometre area, with the company aiming to define more lithium assets at Green River while also keeping the focus on its core asset nearby – the Paradox lithium project.
The company is conducting due diligence to confirm ownership prior to the release of the final contract in April.
ASN shares last traded at 19.5 cents.