Anson Resources (ASX:ASN) has signed a non-binding memorandum of understanding (MoU) with Wogen Resources America and Xcelsior Capital Advisors for a potential lithium carbonate offtake arrangement.
The MoU establishes a framework to evaluate a long-term offtake arrangement for approximately 2,000–6,000 tonnes per annum of lithium carbonate equivalent from Anson’s Green River Lithium Project in Utah, US. The proposed initial supply term is five years, with potential for increased volumes and extensions.
Supply is anticipated to commence in approximately 2029 or 2030, subject to development, financing, permitting, construction, commissioning, and production schedules.
Xcelsior and Wogen may also evaluate potential investment or financing support for Green River, including debt, product prepayment, strategic investment, or other structures.
The parties will cooperate on a preliminary work program including exchanging technical information and product samples, product testing and qualification, evaluating logistics and infrastructure costs, and assessing financing structures.
Executive Chairman and CEO Bruce Richardson says the proposed offtake range represents a “potentially significant long-term customer opportunity” for Green River.
“Wogen brings extensive experience in the international marketing and trading of specialist metals and minerals, while Xcelsior provides financing and capital markets expertise focused on the critical minerals sector,” Richardson says.
“Importantly, the MoU also allows the parties to evaluate financing and investment structures alongside the proposed offtake arrangement.”
Wogen chief executive John Craig adds: “Green River’s location in the United States and its proposed production profile make it a strategically relevant project for the development of secure lithium supply chains.”
Anson Resources holds a portfolio of minerals projects in demand-driven commodities, with core assets in Utah.
Write to Paula Fabe at Mining.com.au
Main image: Anson Resources
