Anson Lifts Green River Post-Tax NPV8 to US$1.046bn

Anson (ASX:ASN) Resources updated the base-case financial model for its Green River Lithium Project in Utah to include two recently approved Utah State incentive programs, lifting the project's modelled value without changing its lithium price assumption.

The company calculates a base-case post-tax NPV8 of approximately US$1.046 billion, up from US$896 million in the June 2026 Scoping Study, and a pre-tax NPV8 of approximately US$1.523 billion, up from US$1.373 billion. Each measure rises by approximately US$150 million. The gross upfront project capital estimate stays at US$569m and the base-case lithium carbonate price assumption at US$16,465/t. The Utah Inland Port Authority incentive is capped at US$193,995,683, is based on 50% of the projected increase in property-tax revenue and may be available for up to 25 years. The Governor's Office of Economic Opportunity approved a post-performance refundable tax credit of approximately US$212 million, which Anson models as approximately US$10.6 million per year over 20 years. Other Scoping Study assumptions, including 10,000 tonnes per annum of battery-grade lithium carbonate and C1 operating costs of US$3,837 per tonne, are unchanged.

The figures are company calculations on a Scoping Study model. Final incentive agreements, the infrastructure-financing structure and the timing and amount of credits are still to be confirmed, and actual annual credits may differ materially.