Anson Resources (ASN) Q4 2026 TU earnings summary

Executive summary

• Achieved a 650% upgrade in JORC Resource to 773,000 t LCE at Green River, with Indicated Resource up 863% and Inferred up 602% year-over-year.

• Scoping Study confirmed first-quartile C1 OPEX of US$3,837/t LCE, pre-tax NPV US$1,373M, IRR 27.5% for a 20-year, 10,000 tpa operation.

• Signed a binding agreement with POSCO for a DLE demonstration plant, with POSCO funding the plant and paying a facilitation fee of ~A$7.2M.

• Completed 23-hole drilling at Yellow Cat Uranium-Vanadium Project, confirming mineralization continuity.

• Cash at 30 June 2026 was $4.06M, increasing to $7.97M after POSCO payment in July.

Financial highlights

• Cash and cash equivalents at quarter end: $4.06M, with an additional $3.91M AUD received post-quarter.

• Quarterly exploration and evaluation expenditure: A$3.6M; administration and corporate costs: A$589K.

• Net cash used in operating activities for the quarter: A$5.38M.

• No mining production or development activities during the quarter.

• Estimated quarters of funding available: 6.33, with a $30M undrawn equity facility.

Outlook and guidance

• Definitive Feasibility Study underway for Green River, targeting FID and first supply of battery-grade lithium carbonate in 2029.

• POSCO demonstration plant operations expected to commence in 2027, with agreement running to December 2028.

• Ongoing cost-saving initiatives forecast to reduce corporate/admin costs by 21.68% in FY27.