Chart Analysis
ASN Daily Timeframe Chart as of 13 May 2026
Anson Resources (ASX: ASN) POSCO Holdings Approves Binding DLE Demo Plant at Green River Lithium — Korean Conglomerate Funds Construction and Pays A$7.2M Facilitation Fee
POSCO Holdings — a South Korean industrial conglomerate with 93,000 tonnes per annum of global lithium production capacity, listed on both the KRX and NYSE — will design, build, and operate a DLE demonstration plant at Anson Resources' Green River Lithium Project in Utah at its own expense, paying Anson approximately A$7.2 million (US$5.2 million) for the privilege. Both boards have approved the terms. The demonstration plant will use brine from Anson's Bosydaba #1 well to validate POSCO's proprietary Direct Lithium Extraction technology at continuous industrial scale — but the facility is explicitly non-commercial, and no production agreement, joint venture, or commercial terms have been agreed beyond the demonstration period. The stock moved +50.9% to $0.080 on 13 May 2026. The definitive agreement has not yet been signed — execution is expected before end of Q2 2026.
What POSCO Is Building and What Anson Gets
| Detail | POSCO's Role | Anson's Role |
|---|---|---|
| Design & construction | Fully funded by POSCO | Site access and infrastructure |
| Operation & maintenance | POSCO at its own expense | Brine supply (Bosydaba #1 well) |
| Facilitation fee | Pays ~A$7.2M (US$5.2M) to Anson | Receives fee |
| Timeline | Operations 2027, completion by December 2028 | — |
| Commercial terms | None agreed — parties to "discuss further collaboration" during demo | — |
The demonstration validates POSCO's DLE process on Green River brines specifically. If successful, the parties will discuss potential joint investment in the project — but "discuss" is not "commit," and the pathway from a successful demo to a binding commercial agreement involves separate negotiations that have not commenced.
The Green River Project — Pre-Production Lithium Brine in Utah's Paradox Basin
Anson's core asset is the Green River Lithium Project in the Paradox Basin, targeting lithium extraction from naturally occurring subsurface brines. The project is at a pre-production, pre-revenue stage. The POSCO demonstration represents the first industrial-scale technology validation applied to Green River brines — a critical de-risking step, but one that produces data rather than lithium for sale.
The agreement progresses from the June 2025 non-binding MoU that first established the POSCO relationship. The A$7.2 million facilitation fee provides Anson with non-dilutive income while POSCO bears all demonstration costs — a favourable structure for the junior partner.
Risks & Considerations
The definitive agreement has not been signed — both boards have approved terms, but execution is expected before end Q2 2026. Until signed, the agreement is not legally binding in final form. DLE is an emerging technology that POSCO has not commercially validated at scale on Green River brines — the demonstration plant is the first step in that validation, not a confirmation of commercial viability.
No commercial agreement follows automatically from a successful demonstration. The parties will "discuss" further collaboration including potential joint investment, but the structure, economics, and ownership split of any commercial operation have not been addressed. The payment schedule for the A$7.2 million facilitation fee (upfront, staged, or milestone-linked) was not specified.
Anson is a pre-production company with no revenue from lithium operations. Lithium prices have been volatile, and the economic viability of any future commercial operation will depend on market conditions at the time of production — which is at least two years away even in an optimistic scenario.
Key Dates & Timeline
| Date | Event |
|---|---|
| June 2025 | Non-binding MoU with POSCO announced |
| 13 May 2026 | Both boards approve terms; stock moved +50.9% |
| Before end Q2 2026 | Definitive agreement signing expected |
| 2027 | POSCO demo plant operations commence |
| December 2028 | Agreement term expiry; demonstration completion |
| During demonstration | Commercial collaboration discussions (not committed) |
Price Data
- Previous Close: $0.053
- Close Price (13 May 2026): $0.080
- Change (13 May 2026): +50.9%
- 52-Week Range: $0.042 – $0.125
Notable Price Levels
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$0.125 — 52-week high. At ~56% above the announcement-day close, the POSCO demo agreement has not been sufficient to recapture the prior peak — suggesting the market is waiting for the definitive signing and demonstration outcomes before pricing in full re-rating potential.
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$0.080 — announcement-day close, within 5% of the $0.084 session high. The tight close-to-high spread indicates limited selling pressure at the peak — a constructive session dynamic for a +51% move, suggesting buyer conviction held through the close.
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$0.053 — undisturbed close and the base of the pre-announcement consolidation ($0.048–$0.058). A retracement here would fully unwind the POSCO demo premium.
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$0.042 — 52-week low. A return here would reverse both the POSCO relationship progression and the preceding recovery from the trough.
Summary
Both Anson Resources' and POSCO Holdings' boards have approved terms for a binding agreement under which POSCO will design, build, and operate a non-commercial DLE demonstration plant at Green River in Utah at its own expense, paying Anson approximately A$7.2 million in facilitation fees. The stock moved +50.9% to $0.080 on 13 May 2026. The demonstration will validate POSCO's proprietary DLE technology on Green River brines at continuous industrial scale, with operations expected to commence in 2027 and complete by December 2028. The definitive agreement has not yet been signed (expected before end Q2 2026), and no commercial production agreement or joint venture has been committed — the parties will discuss further collaboration during the demonstration period. POSCO Holdings operates 93,000 tonnes per annum of global lithium capacity. Anson is a pre-production lithium development company.
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