Anson Resources (ASN) Q1 2027 TU earnings summary

Executive summary

• Green River received its final major permit for a planned 10,000 tpa lithium carbonate plant; the project moved into financing preparation with a DFS underway.

• JordProxa produced SGS-confirmed lithium carbonate at 99.6% purity, while the Green River tenure expanded by ~20.78 km² ahead of a Q4 2026 JORC update.

• Utah incentives of US$406.5M were approved, but are conditional on construction and operation and do not provide near-term cash.

Financial highlights

• Cash at 30 September 2026 was A$3.461M, versus A$3.309M at 30 June; quarterly operating cash inflow was A$170,251, driven by the POSCO receipt.

• Quarterly exploration and evaluation expenditure was A$1.594M; administration and corporate costs were A$1.363M, and staff costs were A$787,000.

• POSCO paid the first US$2.7M instalment of a ~US$5.2M facilitation fee; the remaining ~US$2.5M is payable in later instalments.

Outlook and guidance

• Green River DFS began in July 2026 and is expected in Q1 calendar 2027; it is intended to incorporate the revised plant layout, downstream engineering, incentives and updated resource.

• The DFS is intended to underpin funding discussions in 2027; the latest Scoping Study targets first finished battery-grade product in 2029.

• JordProxa thermal test work was reported ahead of schedule; flowsheet engineering is expected by end-2026 and to be combined with the DFS.

• POSCO expects its DLE demonstration plant to start operating in 2027, with test work through 2028.

• Yellow Cat Phase 2 initial assay results are now expected in early 2027, after permitting and cultural surveys.