Anson Resources (ASN) H2 2026 earnings summary

Executive summary

• Achieved a 650% upgrade in Green River JORC Mineral Resource to 773,000 t LCE, with Indicated Resource up 863% to 183,000 t and Inferred Resource up 602% to 590,000 t, driven by new drilling and higher confidence in resource scale and grade.

• Executed a binding Demonstration Plant Agreement with POSCO Holdings, which will fund, build, and operate a DLE demonstration plant at Green River at its own cost, paying a facilitation fee of ~A$7.2M; first operations expected in 2027.

• Secured a definitive offtake agreement with LG Energy Solution for 4,000 tpa of battery-grade lithium carbonate (40% of planned annual production), with supply to commence January 2028, subject to FID and construction.

• Completed a maiden 23-hole drilling program at Yellow Cat uranium-vanadium project, confirming mineralisation over 2,500m of strike; project admitted to the U.S. Defense Industrial Base Consortium, opening non-dilutive funding pathways.

• Raised A$19M in equity, reduced director and employee salary costs by 18% across FY2025–FY2026, and closed the Newport office, with further cost reductions forecast for FY2027.

Financial highlights

• Net loss after tax of $7,278,118, a 14% improvement from the prior year, driven by reduced operating costs and lower director/employee expenses.

• Cash and cash equivalents at year-end were $3,308,548, up from $2,446,516 in 2025.

• Net assets increased to $56,427,215, supported by $19M equity raised and $7.2M in exploration and evaluation additions.

• Operating outflows of $7,281,635 and investing outflows of $9,211,462 were funded by $17,336,401 of net financing inflows.

• No dividends declared or paid.

Outlook and guidance

• Priorities for FY2027 include supporting POSCO in demonstration plant construction, completing the Green River Definitive Feasibility Study, advancing project financing, and progressing Yellow Cat resource conversion and U.S. government engagement.

• Actions taken since January 2026 are forecast to reduce corporate and administrative costs by more than 20% in FY2027.

• Directors expect current cash resources to carry the Group beyond completion of the Green River DFS in Q1 2027, assuming no further capital raising.