ANSON RESOURCES LIMITED (ASN)
Share Price Analysis and Chart

12/06/2025

1

Buy

$0.31

545.83%

Anson Resources has released a maiden JORC Resource of 103kt lithium carbonate equivalent (LCE) for its Green River Project in Utah.

While smaller than initially expected by Petra Capital, the analyst notes Anson has a history of growing its resource base from modest beginnings. For example, the Paradox project expanded from 118kt to 1.5mt LCE.

Green River is favoured for its higher lithium grades, lower impurities, and better infrastructure access, observes the analyst. A second well re-entry is planned to test the Mississippian brine layer, which could increase the resource further.

The company has a binding offtake agreement with South Korean LG for 4ktpa, and further agreements are anticipated mid-2025, highlights Petra.

Also, the company remains well positioned to benefit from US domestic supply initiatives, in the broker's view, and has access to a $30m equity facility and a potential US$330m Exim Bank debt facility to support future development.

Petra Capital maintains a Buy rating and a 31c target.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.70 cents.
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.20 cents.