ASX lithium stock Anson Resources Ltd (ASX: ASN) looks set to enjoy a third consecutive day of strong gains after closing near 52-week lows last Friday.
The lithium share closed up 3.3% yesterday at 15.5 cents per share. At the time of writing, shares are trading for 17 cents apiece, up 9.7%.
Here's what's spurring renewed interest in Anson Resources.
What did the ASX lithium stock report?
Investors are bidding up the ASX lithium stock after the company reported on its first battery-grade lithium production.
The battery-grade lithium carbonate product was produced from brines at its Paradox Lithium Project in the US state of Utah.
Anson Resources said this "key milestone" will enable it to provide product samples to potential off-take original equipment manufacturer (OEM) partners. That includes electric vehicles and lithium-ion battery manufacturers.
The battery-grade lithium was produced at Anson's sample demonstration plant located at its newly established Lithium Innovation Centre in Florida. The ASX lithium stock said it plans to gradually increase production from the demonstration plant to supply potential off-take partners.
Over the past month, Anson has produced 33 gallons of eluate from 99 gallons of raw brine sourced from the Paradox Project.
If all goes to plan, the ASX lithium stock will be moving the sample demonstration plant to its proposed production site at the Paradox Project. This will see the company using brine directly from the extraction wells.
Anson said this will enable continuous operation and increase production from the demonstration plant "to meet expected demand for increased sample sizes from potential off-take partners for evaluation purposes".
The lithium carbonate was produced utilising the flowsheet designed for Anson's lithium-rich brines by its direct lithium extraction partner, Sunresin.
Anson Resources share price snapshot
With today's intraday gains factored in, the Anson Resources share price is up 40% since this time last year.
The ASX lithium stock remains down 7% in 2023.
