Anson Resources (ASN) Q3 2026 earnings summary

Executive summary

• Completed modified drilling at Green River Lithium Project, intersecting the Mississippian target at 9,189 ft and collecting samples for potential JORC Resource expansion.

• Produced 99.4% purity EV battery grade lithium carbonate from Green River brine, confirmed by SGS North America.

• Delivered high-purity lithium chloride sample to Nusano for evaluation under a non-binding MOU.

• POSCO completed technical evaluation of the DLE Demonstration Plant and reaffirmed commitment, though investment approval was rescheduled due to global uncertainty.

• Completed a 23-hole aircore drilling program at Yellow Cat, confirming mineralisation along strike of historical uranium and vanadium sites.

Financial highlights

• Strong balance sheet with $9.5 million cash on hand at quarter end.

• Net cash used in operating activities for the quarter was $4.4 million, with $2.75 million spent on exploration and evaluation.

• Administration and corporate costs totaled $742k for the quarter.

• No mining production or development activities during the quarter.

Outlook and guidance

• Initial evaluation of DLE and downstream process proposals expected in coming months.

• Results from Yellow Cat drilling assays expected within four weeks, with infill drilling planned to prove up a mineral resource.

• Ongoing planning for Paradox Lithium Project western expansion, targeting significant resource increase.