- Anson Resources (ASN) halts trading of its shares pending a capital raise announcement
- The company has not yet said how it will spend the funds nor how much it intends to raise but expects to share these details by Monday, September 19
- This comes just as Anson confirmed there’s potential to expand the resource of its Paradox lithium project in Utah
- Shares in Anson last traded at 42.5 cents on September 14
Anson Resources (ASN) has entered a trading halt while it plans a capital raise.
The company has not yet said how it will spend the funds nor how much it intends to raise.
Anson expects to come out of the trading halt by Monday, September 19, by which time it plans to have released the details of the capital raise.
Just yesterday, the company validated the resource expansion potential of its Utah-based Paradox lithium project following resource definition drilling at the Cane Creek 32-1 well.
It confirmed that the majority of the clastic zones contained lithium-rich supersaturated brines, which Anson said could provide numerous targets for future drilling programs.
It is said several clastic zones in the program were much thicker than the zones previously sampled.
Due to this extra thickness, the new zones have the potential to support an increased mineral resource upgrade, which will incorporate results from this drilling.
Shares in Anson were halted at 42.5 cents on September 15.