The Anson Resources Ltd (ASX: ASN) share price has jumped into the green during today’s session. At the time of writing, Anson shares are swapping hands for 8.4 cents, a gain of 12%.
Today’s gain comes as Anson announced a key update to its Paradox brine project to the market.
Quick refresher on Anson Resources
Anson is a minerals exploration company that has particular interests in lithium, zinc, lead, and gold assets, among a list of other minerals.
It has several projects dotted around Australia and abroad, such as the Paradox brine project in Utah in the United States, and the Bull nickel-copper-PGE project in Western Australia.
Anson has a market capitalisation of $67 million at the time of writing.
What did Anson announce?
Anson revealed it had entered into a collaboration with TETRA Technologies at the Paradox brine project.
The Paradox brine project is a collection of claims and leases owned by the US and Utah governments, coupled with other local municipality agreements.
Henceforth, Anson confirmed the pair had signed a memorandum of understanding (MOU) to progress development at the site, including potential investment by TETRA.
The MOU effectively establishes a “framework of discussing options to work together” in order to “jointly develop” the Paradox site.
Both parties can now “negotiate an off-take agreement”, in addition to the economics of TETRA’s “patented process technology”.
TETRA is a “global leader in the production of bromine derivative products”, according to Anson. These products are used in “a number of applications including oilfield completion services and zinc-bromide energy storage batteries”.
Investors seem to have embellished the collaboration and have immediately rewarded Anson shares as a result of the news.
Anson Resources share price snapshot
The Anson Resources share price has delivered outsized returns over the year to date, posting a return of 178% since January 1.
This extends the previous 12 month’s return of 317%, which has far outpaced the broad index. The S&P / ASX 200 Index (ASX: XJO) has seen a return of about 26% over the same time.