Insights

Here’s why the Anson Resources (ASX:ASN) share price has shot up 34% today

Anson Resources’ (ASX: ASN) share price is soaring today after it announced its lithium materials received successful performance reviews.
The post Here’s why the Anson Resources (ASX:ASN) share price has shot up 34% today appeared first on The Motley Fool Australia. –

Share price jump represented by goldfish leaping from small fishbowl to larger bowl

The Anson Resources (ASX: ASN) share price is soaring today after it announced its lithium materials received successful performance reviews.

Tests on the company’s lithium products found it matched or exceeded the quality of those currently used in high-performance lithium-ion batteries.

At the time of writing, Anson Resources’ share price is 89 cents, up from Friday’s closing price of 69 cents.

More about today’s announcement

This morning’s announcement from Anson proclaimed the commercial viability of its raw battery materials.

Both the company’s lithium hydroxide and its lithium carbonate returned favourable market comparisons.

The results from Anson’s lithium carbonate were most favourable. It was found to have 99.9% purity – exceeding that of current commercial battery grade lithium-ion.

The company’s lithium hydroxide was shown to demonstrate similar performance to existing commercial products.

The products involved in the tests were extracted from Anson’s flagship Paradox Brine Project, located in a unique salt brine resource in Utah.

The tests were conducted by battery testing equipment makers Novonix Limited (ASX: NVT). Novonix states it provides the world’s most accurate battery testing services. Its customers include Honda, Dyson, Panasonic, and Bosch.

The positive findings have encouraged further testing. Novonix is set to continue tests with larger bulk samples, including conducting hundreds of charge and discharge cycles. Final results are expected to be available in the second quarter of 2021.

Commentary from management

Anson’s Executive Chairman and CEO Bruce Richardson said the results are “truly exciting” for the company.

This ongoing test work with Novonix is an important step in the commercial development of the Paradox Project, and will provide battery makers and potential off-take partners with considerable confidence in our ability to produce a high purity product. I look forward to providing further updates on test work and other importance work streams underway at Paradox in due course.

Anson Resources share price snapshot

The Anson share price is currently trading 200% higher than this time last year and is up 131% year to date.

The company has a market capitalisation of over $59 million with approximately 893 million shares outstanding.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s why the Anson Resources (ASX:ASN) share price has shot up 34% today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!