Anson Resources (ASX:ASN) has completed the acquisition of a ‘strategic’ land package of privately owned industrial use land at the Green River Lithium Project in southeastern Utah, US.
The $177.89 million market capitalisation company says the land package is a key addition to the project area. Anson plans to locate the project’s proposed future lithium extraction and production facility at this site.
During the June quarter, Anson executed a letter of intent (LOI) with US family-owned entity Boysdaba to enter into a purchase and sale agreement for the acquisition of 0.568km-square of land at the Green River Project.
All conditions for the sale and purchase in the LOI have now been met and a payment of US$2.4 million has been made to Boysdaba to acquire the land.
Commenting on the acquisition, Anson Resources Chief Executive Officer (CEO) and Chairman Bruce Richardson says: “We are excited about the potential to develop a lithium extraction and processing plant at the newly acquired site at Green River.
Private, industrial use land is difficult to secure in eastern Utah, as the approval process for privately-owned land is significantly less onerous. We consider the existing infrastructure that surrounds this area to be world-class, potentially reducing the work and costs required to develop the project into production.”
Anson plans to develop the Green River project into a ‘significant’ lithium-producing operation in parallel with its nearby Paradox Lithium Project.
Preliminary design and engineering studies for the location of the plant and the availability of supporting utilities including power and water supply are underway and ongoing.
The company has submitted applications for licences for the development of the plant.
Anson Resources is a junior mineral resources company with a portfolio of mineral projects in key demand-driven commodities. Its key asset is the Paradox Lithium Project in Utah.
As of 30 June 2023, the company had $38.6 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Anson Resources
