Trident Royalties PLC Announces Paradox Lithium LG Offtake & Green River Update

Portfolio Update: Paradox Lithium LG Offtake & Green River

LONDON, UK / ACCESSWIRE / May 2, 2024 / Trident Royalties Plc (AIM:TRR)(OTCQB:TDTRF), the diversified mining royalty company, is pleased to note recent positive announcements by ASX-listed Anson Resources Ltd. ("Anson", ASX: ASN) in relation to its Paradox Lithium Project ("Paradox") and its Green River Lithium Project ("Green River"). Trident holds a 2.50% net smelter return ("NSR") royalty over Anson's projects in the Paradox Basin.

Binding Offtake Term Sheet with LG Energy Solution¹

Anson Resources (via its 100% owned subsidiary A1 Lithium) and LG Energy Solution ("LG") have executed a binding offtake term sheet for the supply of battery grade lithium carbonate from Paradox.

LG Energy Solution is a global leader in delivering advanced lithium-ion batteries for electric vehicles, mobility and IT applications and energy storage systems. They have eight facilities currently operating or under construction in North America, with stand-alone facilities in Michigan and Arizona and six joint venture facilities with major automakers.

The offtake term sheet contemplates the purchase by LG of 4,000 dry metric tonnes per year of battery-grade lithium carbonate for an initial period of five years beginning in 2027, with the ability to extend for another five years thereafter. The offtake is subject to the satisfaction of customary conditions precedent. This would represent approximately 40% of the anticipated project start-up production capacity of circa 10,000tpa.

Pricing for lithium carbonate delivered under the offtake term sheet is based on market prices.

Additionally, LG and Anson have commenced discussions regarding an investment by LG into Anson.

Green River Update²

Anson announced that it has successfully sampled the Mississippian Units after the completion of the Bosydaba #1 well at Green River, which is located on the recently purchased private property in the Paradox Basin.

The flow of supersaturated brine confirms Anson's expectations that Green River will be the location of its second lithium project in Utah.

Bulk samples were stored in a 400-gallon tank and IBC containers and will be used for continued process testing and metallurgical test work. Samples collected will be sent to a certified laboratory in Texas experienced in oil field brines, and will be assayed for lithium, iodine, bromine, boron and other minerals. A large volume, 400-barrel tank, was also collected and stored at the Sample Demonstration Plant ("SDP") for on-going process test work.