Proactive Investors - Trident (LON:TRR) Royalties said Anson Resources, the operator of the Paradox and Green River lithium developments in south-eastern Utah, has announced progress at both projects.
Earlier this month, Trident bought a 2.5% net smelter return royalty over all of Anson's projects in Utah's Paradox Basin, including Paradox and Green River.
At Paradox, a sample demonstration plant (in Florida) is producing battery-grade lithium carbonate (Li2CO3) from its brines for supply to potential offtake partners.
A major part of Anson's product supplier qualification process, discussions are ongoing with vehicle manufacturers for which it is required to provide samples for test work.
At Green River, Anson recently completed the acquisition of a strategic land package of privately owned industrial-use land for US$2.4 million that is earmarked as the site of a lithium extraction and production facility in the future.
Trident’s chief executive, Adam Davidson, added: "Anson's acquisition of a significant strategic land package for its Green River Project is noteworthy.
“While Green River is earlier in its development lifecycle than Paradox, Anson is leveraging its experience at Paradox to fast-track the project.
“Green River demonstrates the optionality and upside inherent in Trident's acquisition of this royalty."