Chart Analysis
ASN Daily Timeframe Chart as of 13 May 2026
Anson Resources (ASX: ASN) — POSCO Holdings Boards Approve Terms for Binding DLE Demonstration Plant Agreement at Green River Lithium Project in Utah
On 13 May 2026, Anson Resources Limited (ASX: ASN) announced that both its board and the board of POSCO Holdings Inc. (KRX: 005490, NYSE: PKX) have approved the terms for a binding Demonstration Plant Agreement for the construction and operation of a Direct Lithium Extraction (DLE) demonstration facility at Anson's Green River Lithium Project in the Paradox Basin, Utah, USA. Under the agreement, POSCO will design, construct, operate, and maintain a non-commercial DLE demonstration plant at its own expense, using brine supplied from Anson's Bosydaba #1 well. POSCO will pay Anson a facilitation fee of approximately A$7.2 million (US$5.2 million). The demonstration plant is designed to validate the commercialisation of POSCO's proprietary DLE technology for Green River brines at continuous industrial scale. The board approvals progress the relationship from the previously announced non-binding Memorandum of Understanding (June 2025), with the definitive agreement expected to be signed before the end of Q2 2026.
Key Details at a Glance
| Detail | Value |
|---|---|
| Agreement Type | Binding Demonstration Plant Agreement (terms approved; signing expected Q2 2026) |
| Counterparty | POSCO Holdings Inc. (KRX: 005490, NYSE: PKX) |
| Facility | Non-commercial DLE Demonstration Plant |
| Location | Green River Lithium Project, Paradox Basin, Utah, USA |
| Brine Source | Bosydaba #1 well (owned by Anson) |
| POSCO Responsibility | Design, construction, operation, and maintenance of DLE plant (at POSCO's expense) |
| Anson Responsibility | Access to property, infrastructure, and brine supply |
| Facilitation Fee to Anson | ~A$7.2 million (US$5.2 million) |
| Term | To December 2028 |
| Demonstration Plant Operations | Expected to commence 2027, complete 2028 |
| Prior Agreement | Non-binding MoU announced 30 June 2025 |
| Future Commercial Collaboration | Parties to discuss joint investment during demonstration operations |
What the Demonstration Plant Agreement Covers
POSCO will install and operate its proprietary DLE technology at Green River to extract lithium from brines produced from Anson's Bosydaba #1 well. The facility is non-commercial — it is designed to validate POSCO's DLE process at continuous demonstration scale, not to produce lithium for sale. POSCO bears all costs for design, construction, operations, and maintenance. Anson provides site access, infrastructure, and brine supply with defined performance targets.
During the demonstration plant operation, the parties will discuss further commercial collaboration opportunities, including potential joint investment in the Green River Lithium Project, as outlined in the original June 2025 MoU.
The definitive agreement has not yet been signed — both boards have approved the terms, with execution expected before the end of Q2 2026. POSCO expects to commence demonstration plant operations in 2027 and complete the work in 2028.
About POSCO Holdings
POSCO Holdings Inc. is a leading South Korean industrial conglomerate listed on the Korea Exchange (KRX: 005490) and NYSE (PKX), with strategic investments across steel, energy, and battery materials. POSCO Group is developing a global lithium supply chain to support the EV transition, with investments in a total of 93,000 tonnes of lithium production capacity annually in Argentina and South Korea. The company has made investments in both brine and hard-rock lithium resources across South America and Australia and is advancing proprietary DLE technologies to accelerate low-carbon lithium production.
About Anson's Green River Lithium Project
Anson Resources' core asset is the Green River Lithium Project in the Paradox Basin, Utah, USA. The project targets lithium extraction from naturally occurring subsurface brines. The Bosydaba #1 well, referenced as the brine source for the POSCO demonstration plant, is owned by Anson.
Anson is an ASX-listed mineral resources company focused on developing its Green River and Paradox lithium assets into lithium-producing operations. The company is at a pre-production, development stage.
Market Context
ASN closed at $0.080 on the announcement day, up +50.9% from a previous close of $0.053, with an intraday high of $0.084. The 52-week range spans $0.042 to $0.125. The announcement comes amid U.S. government policy focus on domestic battery material supply chains and growing interest in DLE technologies as a pathway to lower-cost, lower-impact lithium production from brine resources.
Risks & Considerations
Agreement not yet signed: While both boards have approved the terms, the definitive agreement has not been executed. Signing is expected before end of Q2 2026, but there is no certainty it will proceed. Until signing, the terms are not legally binding in final form.
Non-commercial demonstration plant: The facility is explicitly non-commercial — it is designed to validate POSCO's DLE technology, not to produce lithium for sale. There is no guarantee the demonstration will achieve the technical parameters required for commercialisation, or that a commercial agreement will follow.
No commercial agreement guaranteed: The announcement notes that the parties will "discuss further commercial collaboration" including potential joint investment during the demonstration period. No commercial terms, joint venture structure, or production agreement has been agreed. A successful demonstration does not necessarily lead to a commercial partnership.
DLE technology risk: DLE is an emerging technology being pursued by multiple companies globally. POSCO's proprietary DLE process has not been commercially validated at scale on Green River brines. The demonstration plant is the first step in that validation process.
Facilitation fee timing: The A$7.2 million facilitation fee is disclosed, but the payment schedule (upfront, staged, or upon milestones) is not specified in the announcement.
Pre-production company: Anson Resources is a pre-production, pre-revenue lithium development company. The Green River Project has no production history and is dependent on the technical and commercial success of DLE technology applied to its brines.
Lithium price uncertainty: Lithium market conditions have been volatile. The economic viability of any future commercial operation at Green River will depend on lithium prices at the time of production, which are uncertain.
Key Dates & Timeline
| Date | Event |
|---|---|
| 30 June 2025 | Non-binding MoU with POSCO Holdings announced |
| 13 May 2026 | Both boards approve terms for binding agreement; share price moved +50.9% |
| Before end Q2 2026 | Definitive agreement expected to be signed |
| 2027 | POSCO expected to commence demonstration plant operations |
| December 2028 | Agreement term expiry; demonstration work expected to complete |
| During demonstration | Parties to discuss further commercial collaboration including joint investment |
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
- $0.099 — upper range of prior trading activity
- $0.096 — earlier consolidation zone
- $0.089 — prior trading level
- $0.084 — intraday high on announcement day
- $0.080 — announcement-day close
- $0.074 — near the pre-announcement trading range
- $0.068 — prior support zone
- $0.060 — lower range of recent activity
- $0.053 — pre-announcement close
Key Takeaways
- ASN moved +50.9% on 13 May 2026 following a price-sensitive ASX disclosure, with an intraday high of $0.084.
- The announcement — POSCO Approves Agreement for DLE Demo Plant at Green River — was the primary catalyst for the price movement.
- Both Anson 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 at POSCO's expense, paying Anson a facilitation fee of ~A$7.2 million (US$5.2 million).
- The definitive agreement has not yet been signed — execution is expected before end of Q2 2026. POSCO expects to commence operations in 2027 and complete the demonstration by December 2028.
- The demonstration plant is non-commercial and designed to validate POSCO's proprietary DLE technology on Green River brines. No commercial production agreement or joint venture has been agreed.
- POSCO Holdings is a South Korean industrial conglomerate with 93,000 tpa of lithium production capacity globally and is listed on the KRX and NYSE.
Summary
Anson Resources announced that both its board and the board of POSCO Holdings have approved terms for a binding agreement under which POSCO will design, construct, and operate a non-commercial DLE demonstration plant at Anson's Green River Lithium Project in Utah at POSCO's expense, with a facilitation fee of approximately A$7.2 million (US$5.2 million) payable to Anson. The announcement coincided with a +50.9% move to $0.080. The agreement progresses the relationship from a June 2025 non-binding MoU, with the definitive agreement expected to be signed before end of Q2 2026 and demonstration operations expected to commence in 2027 and complete by December 2028. The facility is explicitly non-commercial — designed to validate POSCO's proprietary DLE technology on Green River brines at continuous industrial scale. During the demonstration period, the parties will discuss further commercial collaboration including potential joint investment, though no commercial terms have been agreed. Anson is a pre-production lithium development company, and POSCO Holdings is a South Korean conglomerate with global lithium production capacity of 93,000 tonnes per annum.
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