Anson Receives $212M Additional Tax Credit from Utah

Key points

• Anson Resources Ltd received a $212 million tax credit from Utah
• Credit based on projected $425 million in Utah state tax revenue over 20 years
• Part of the Rural Economic Development Tax Increment Financing (REDTIF) program

Full summary

Anson Resources Ltd (ASX: ASN) has received a $212 million tax credit from the Utah Governor's Office of Economic Development (GOED) for its Green River Lithium Project. This credit is part of the Rural Economic Development Tax Increment Financing (REDTIF) program and is based on the projected $425 million in Utah state tax revenue over 20 years of operation. The tax credit is a 50% reduction and is awarded post-performance. This announcement follows a previous tax rebate from the Utah Inland Port Authority, bringing the total tax rebates to US$406,514,271 (A$569,119,979). Anson is continuing discussions with GOED about other incentive programs that could further impact financial returns.

Guidance

Anson Resources Ltd expects a $212 million tax credit from Utah for its Green River Lithium Project.

Outlook

Anson Resources Ltd is optimistic about the potential for additional incentives from Utah, which could enhance financial returns.