Anson Resources (ASN) Q3 2025 TU earnings summary

Executive summary

• Delivered a successful pilot program at Green River Lithium Project, achieving high-purity lithium chloride production and 98% lithium recovery using Direct Lithium Extraction (DLE) technology.

• Secured regulatory approvals for expanded drilling at Paradox Lithium and Yellow Cat Uranium/Vanadium projects, aiming to increase JORC-compliant resources.

• Maintained a strong cash position of $4.7 million at quarter-end, supporting ongoing exploration and development activities.

Financial highlights

• Ended the quarter with $4.7 million in cash and cash equivalents.

• Net cash used in operating activities was $2.74 million for the quarter and $10.22 million for the nine months year-to-date.

• Raised $7.21 million from equity financing during the quarter, with net financing cash inflow of $6.71 million after costs and repayments.

• Exploration and evaluation expenditure totaled $774,000 for the quarter, mainly on Paradox Basin projects.

• Administration and corporate costs were $662,000 for the quarter.

Outlook and guidance

• Ongoing downstream processing of lithium chloride eluate, with initial polished samples expected in Q4 2025.

• Planned drilling at Paradox and Yellow Cat projects expected to expand mineral resources and support future development.

• Sufficient funding for approximately 12.7 quarters of operations, supported by a $30 million undrawn equity facility.