Anson Resources - Lithium Brine - Utah USA, Graphite - WA, Ni + Co - WA.
MC = $57 Million @ .125c
SOI – 454 Million. Options 39.8 Million ( @.025c 10/8/18) + 15.6 Million ( @ .20c 18/7 /20)
Cash = $4 Million + $1 Million from exercise of options in coming 2 weeks.
Top 20 holds 37%.
Anson Applies for Drilling Permit at Paradox Lithium Project Utah.
Notice of Intent (NOI) to drill a new hole has been submitted, Approval due any time now.
Anson Site Tests Correlate with Laboratory Evaporation Work:
Lithium concentration in ponds increased to 398ppm after 17 days
Compares favourably with lab work (433 ppm after 14 days)
Anson Produces First LCE Product
Highlights:
First lithium carbonate product extracted from Cane Creek 32-1 brine
LCE produced by precipitation process
Test work is on-going
Anson determined to examine different production processes to assess the best recovery and purity results from the Cane Creek super saturated brines, which will also provide the best financial returns. The Company selected a cutting-edge production technology as an alternative to that proposed by Outotec as detailed in the Company’s presentation at a Shanghai battery materials conference, 18 April, 2018.
A 1000 litre sample of the super saturated brine was provided to this alternative metallurgical laboratory for assessment of suitability to their technology, in May, 2018. Early results have been positive. The laboratory has conducted initial bench-top test work to recover lithium from the Cane Creek brines using this alternative process. The second stage test work will focus on using proprietary equipment in a larger scale test. The test work using this production process to produce battery grade lithium is expected to be completed in August, 2018.
Anson’s Managing Director, Bruce Richardson, commented, “The Company has moved quickly to replicate the first stage laboratory bench top test work with in-field evaporation ponds to continue with its strategy of fast tracking the Paradox Lithium Project into production. The correlation of results is very pleasing and provides confidence that the pilot plant to be designed through bench top test work will be successful in extracting lithium and other minerals of high concentration once completed. The concentrated brine from this process will be used to produce sample LCE for testing by potential off-take partners and investors.”
(20min delay)