Anson Resources: Raises $50m to support Paradox to final investment decision

Anson Resources Raises $50m to support Paradox to final investment decision

• Anson Resources (ASN) will raise $50 million through a placement to support the development of the Paradox lithium project in Utah to a final investment decision
• This includes front-end engineering design work, ordering long-lead procurement items, further resource expansion, and working capital
• The company will issue 139 million new shares at 36 cents each under its placement capacity to raise the funds
• This represents a 3.9 per cent discount to Anson’s ten-day volume-weighted average price (VWAP)
• Anson shares are trading 7.06 per cent lower at 39.5 cents each at 12:15 pm AEST