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Anson Resources Limited (ASX: ASN, ASNOC) (Anson or the Company) is pleased to announce that it has signed a sub-lease agreement with Green River Companies LLC which was approved by the Wayne County Water Conservancy Board, State of Utah in January 2023 (Agreement).
Highlights:
- Anson has signed a water rights agreement with Green River Companies LLC to meet the needs of the planned 13,000tpa LCE production plant of the Paradox Lithium Project in Utah, USA.
- Consent for the sub-lease agreement has been provided by the Wayne County Water Conservancy Board in the State of Utah.
- The agreement for the diversion of water from either the Colorado or Green rivers
- The initial term of the agreement is for 23 years and may be extended for an additional 20 years upon application by Anson
The Agreement will provide the supply of water required for the operation of the Company’s proposed lithium producing operation at the Paradox Lithium Project in Utah, USA (Project). The Agreement is for an initial period of 23 years with an option to extend the Agreement for up to additional 20 years. The agreement with Green River Companies LLC was signed in October, 2022 and conditions precedent required the approval by the Wayne County Water Conservancy Board, State of Utah and the payment of $1 by A1 Lithium Inc. These conditions have been met.
The amount of water sub-leased to Anson exceeds the expected water consumption of its planned 13,000tpa LCE plant (see ASX announcement 8 September 2022) at the Project and allows the Company to apply for points of diversion of the water from the Colorado or Green rivers in Utah, subject to approval of the location of the diversions, and can be used for industrial purposes.
The Agreement also allows for Anson to apply for additional water rights should there be a change in production requirements.
The water was originally leased by the Wayne County Conservancy District, State of Utah, in 2005 and subsequently transferred to Green River Companies LLC in 2012. The agreement to sub-lease the water rights to Anson has received the consent of the Wayne County Water Conservancy Board, State of Utah.
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ASN:AU
Anson Resources: Developing a Near-Term Clean Energy Project in Utah
Anson Resources (ASX:ASN) focuses on the resources necessary to meet the energy demands of the future. The company’s flagship project, the Paradox Lithium Project, has the potential to become a world-class lithium producer and is located near Tesla’s massively productive gigafactory in the United States. Additional projects target nickel, copper, and uranium.
The company's flagship Paradox Project is located in Utah, a mining-friendly and politically stable jurisdiction. The asset holds significant lithium brine deposits, and the company has identified an extraction method that has delivered an extraction rate of 91.5 percent. This technique calls for passing the lithium through the resin, which captures the resin, and can then be separated from the resin with water. From that state, it can be processed into lithium carbonate. The company is currently undertaking a major JORC resource expansion drilling program, the results of which will feed into a Detailed Feasibility Study being carried out by global engineering firm, Worley.
Company Highlights
- Anson Resources is focused on developing its flagship project, the Paradox Lithium Project, into a significant lithium producing operation.
- The company is currently undertaking a major JORC Resource expansion program at Paradox, which will form part of a Detailed Feasibility Study which is being undertaken by leading global engineering consultants, Worley.
- The Paradox Project contains multiple lithium brine targets, and the company has identified an extraction method that produces an impressive return rate of 91.5 percent. Also, the project’s Direct Lithium Extraction (DLE) method is expected to deliver significant ESG benefits
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Anson Resources’ other projects target nickel, copper, vanadium and uranium. The company aims to supply energy markets with the mineral resources necessary to power the future.
- The company has an experienced management team with a mix of technical, corporate and commercial skills driving the project towards its ambitious goals.
This Anson Resources company profile is part of a paid investor education campaign.*