Anson Resources Limited announced the execution of a binding Memorandum of Understanding (MoU) with Sunresin New Materials Co. Ltd. (Sunresin), for a long term strategic and commercial alliance for Anson's Paradox Lithium Project (Project) in Utah, USA. Under the terms of the binding MoU, Sunresin will provide equipment, consumables, innovations, and technical support services to Anson for the development, design, construction, operation and optimisation of Sunresin's proprietary DLE technology for the production of battery-grade lithium carbonate at the Paradox Project.

Anson will supply data related to the Project, including results of the DFS when completed. There is no financial implications to Anson as the parties are to cooperate with each other at their own cost in their efforts to pursue the provision of Sunresin's technology assistance in Project development, engineering design, construction, operations and optimisation, with an aim to reach a commercial agreement in due course. There is no fixed term to the MOU.

Anson will also have guaranteed access to Sunresin's global supply chain of distribution centres and technical support network in Asia and Europe, to support Anson's strategic development of the Project. In addition, Sunresin will provide Anson with technology updates, innovations and support during the life of the proposed Project, including future expansions and optimisations.