ASN Receives $193M Incentive from Utah Inland Port Authority

Key points

• Anson Resources receives $193M incentive from Utah Inland Port Authority
• Incentive based on projected property tax differential over 25 years
• Funds to support infrastructure and operational costs for Green River Lithium Project
• Discussions ongoing for additional financial support from Utah government agencies

Full summary

Anson Resources Limited (ASX: ASN) has announced that the Utah Inland Port Authority (UIPA) has approved a business incentive of $193,995,683 to support the development of its Green River Lithium Project in Utah, USA. The incentive is based on projected additional property taxes over 25 years and will be provided as a tax rebate during the project's operation. UIPA also offers alternative financing structures to support public infrastructure needed for the project. Anson is also in discussions with the Governor's Office of Economic Development for further tax reductions. The incentive is a significant step towards finalizing the project's finance stack.

Guidance

Anson Resources expects to incur $569M in capital investment for the Green River Lithium Project.

Outlook

Anson Resources is actively working on securing additional financial support and infrastructure upgrades necessary for the successful development of the Green River Lithium Project.