Ann: Paradox Lithium Project DFS Confirms Outstanding Economics, page-511

Hi Dicker, while I cant step into the shoes of another poster and assume to know what they are thinking, here are my thoughts.
The announcement signals there are offtake discussions occuring in size and geographic location to Anson. Phase 1 of Compass is 11ktpa (and phase 2 24kt pa) - Anson is 13ktpa phase 1. Production is expected to commence in 2025 - anson saying 2025. In Sept 2022 Compass secured $252m USD investment from Koch (Anson recently raised $50m from sophs although none purchased greater than 1% of the shares issued) and just recently Compass signed a binding agreement with LG. All seems pretty positive and naturally one could assume that spills over to Anson...ie if this can happen to Compass why not Anson? Anson do seem to be tracking a little behind Compass in a couple of respects but you could argue Compass already had an established Salt and Magnesium Chloride business therefore the pathway to commercializing the lithium was a little easier (eg they have been operating Ogden site in Utah for a long time) - whereas anson is a greenfield project. From what I have read, Utah is pro mining so I think compass moving to production for their lithium sends a signal to anson investors. As mentioned in a previous post, i think permitting is going to take longer than they anticipate.

I do wonder why LG couldnt have signed the offtake it did with Compass, but instead with Anson.

I would however suggest you read the Compass Technical Report for Lithium and their recent company presentations. After reading them, I get the sense that Compass have a corporate structure and management team that are perhaps ahead of the anson team. The technical report is very detailed and the presentations pretty clear and informative. I also find Compass were more conservative in their financials despite arguably having a more derisked project than anson.

Just my thoughts.