Anson Resources completes $5 million placement for Green River Lithium Project

Anson Resources Limited (ASX:ASN) has successfully secured binding commitments from institutional and sophisticated investors to raise $5 million through a placement. The funds raised will be utilized to advance the Green River Lithium Project, primarily focusing on project optimization, engineering work, production of bulk samples for qualification by offtakers, and additional resource drilling. The placement is a significant step in accelerating the development of the Green River Lithium Project, which is strategically located in south-eastern Utah, USA, and is in an advanced stage of permitting.

Executive Chairman's Comments on the Placement

Anson's Executive Chairman, Mr. Bruce Richardson, expressed his delight at the support for the placement, highlighting the investor appetite for advancing the Green River development strategy. He also welcomed new shareholders and emphasized the potential of the 'US Made' lithium and the advanced stage of the Green River Project. The raised funds will enable Anson to optimize the project, produce bulk samples for qualification by offtakers, and expand the lithium resource.

Summary of Anson's Placement and Future Plans

Anson Resources has successfully completed a $5 million placement, demonstrating investor confidence in the Green River Lithium Project. The funds will be directed towards project optimization, engineering work, production of bulk samples for qualification by offtakers, and additional resource drilling. The company aims to underpin low-cost battery grade lithium production, which is expected to be profitable even under the current depressed lithium market conditions. Additionally, the proceeds will also support exploration activities at the Yellow Cat Uranium Project in the USA and critical minerals exploration in Australia. Anson's strategic focus on developing natural resources to meet the demand of new energy and technology markets aligns with its long-term goal of creating shareholder value. The successful placement marks a significant milestone in advancing the Green River Lithium Project and underscores Anson's commitment to its corporate strategy and growth objectives.