Anson Resources Signs Lithium Offtake and Financing MoU for Green River
Key Takeaways
- Anson Resources (ASX: ASN) has executed a non-binding MoU with Wogen Resources America LLC and Xcelsior Capital Advisors covering both a potential long-term lithium carbonate offtake and financing or investment structures for the Green River Lithium Project in Utah.
- The proposed offtake volume range is 2,000 to 6,000 metric tonnes per annum LCE over an initial five-year supply term, with commencement anticipated in approximately 2029/2030 subject to development, permitting, and construction milestones.
- Xcelsior's involvement alongside Wogen means the MoU is a combined commercial and capital pathway — potential financing structures include debt, product prepayment, and strategic investment, not just a sales arrangement.
- Green River's USA location is explicitly cited by both Wogen's CEO and Anson's Chairman as a strategic differentiator in the context of growing demand for secure, domestically sourced critical minerals supply chains.
- All terms remain indicative and non-binding at this stage, with next steps including product qualification, logistics evaluation, and negotiation of definitive agreements.
Anson Resources signs strategic lithium offtake and financing MoU for Green River Lithium Project
Anson Resources (ASX: ASN) has entered into a non-binding Memorandum of Understanding with specialist metals and minerals trader Wogen Resources America LLC and critical minerals financing adviser Xcelsior Capital Advisors Limited. The MoU covers two core commercial objectives: a potential long-term lithium carbonate offtake arrangement and the evaluation of financing or investment structures for the Green River Lithium Project in Utah, USA.
The proposed offtake volume range is 2,000 to 6,000 metric tonnes per annum on a lithium carbonate equivalent (LCE) basis, with an indicative initial supply term of five years from commencement of deliveries. Supply is currently anticipated to commence in approximately 2029/2030, subject to development, financing, permitting, construction, commissioning and production schedule.
When big ASX news breaks, our subscribers know first
What the MoU covers
The MoU establishes a non-exclusive framework for the parties to evaluate and negotiate two pillars:
- Offtake: A potential long-term supply of lithium carbonate from the Green River Lithium Project to Wogen, subject to technical evaluation and the negotiation and execution of a definitive agreement.
- Financing: Xcelsior, working in partnership with Wogen, may evaluate potential investment or financing support for the project, including debt, product prepayment, strategic investment, or other mutually acceptable structures.
The MoU is non-exclusive and non-binding at this stage. All proposed volumes, commencement dates, ramp-up profiles, and renewal provisions remain indicative and subject to further negotiation.
During the term of the MoU, the parties intend to cooperate on a preliminary work programme that may include:
- Exchanging and reviewing technical information and representative product samples
- Conducting lithium carbonate product testing and qualification
- Evaluating logistics, infrastructure, and delivered-product costs
- Assessing potential financing, investment, and advisory structures involving Wogen and Xcelsior
- Preparing and negotiating one or more definitive agreements
Offtake structure at a glance
| Parameter | Detail |
|---|---|
| Volume range | 2,000–6,000 tpa LCE |
| Supply term | Five years (initial) |
| Commencement | ~2029/2030 (subject to development, financing, permitting, construction and commissioning schedule) |
| Product | Lithium carbonate |
| Extension/expansion | By mutual agreement |
Who are Wogen and Xcelsior?
Wogen — specialist metals and minerals trader
Wogen is a specialist metals and minerals trading company that markets and trades commodities across international supply chains, including lithium carbonate. In a project context, a metals trader connects producers with end-user customers, reducing the market risk a producer faces in finding buyers for its output. For Anson, Wogen’s role would be to take lithium carbonate from Green River and place it with customers in global supply chains.
Xcelsior — critical minerals financing adviser
Xcelsior provides financing and advisory services to producers of critical metals and minerals, including miners, processors, refiners, recyclers, and manufacturers. The company works in partnership with Wogen specifically to evaluate financing and investment opportunities, and may provide support relating to transaction structuring, capital markets and financing strategy, and market intelligence.
Pairing an offtake partner with a financing adviser in a single MoU is significant. It means this is a combined commercial and capital pathway, not simply a sales agreement. Xcelsior’s involvement opens the door to structured financing solutions that could be tied directly to confirmed offtake volumes.
Why an offtake MoU matters for a project at Green River’s stage
An offtake agreement is a contract in which a buyer agrees to purchase a set volume of a producer’s output, typically before production begins. Securing offtake interest at the development stage validates demand, strengthens financing applications by demonstrating committed revenue, and reduces the commercial risk of bringing a new project online. For Green River, this MoU signals that specialist traders and financiers see commercial merit in both the project’s USA location and its proposed production profile, particularly as supply chain security for critical minerals draws increasing attention.
The next major ASX story will hit our subscribers first
What management says — and what comes next
Bruce Richardson, Executive Chairman and CEO, Anson Resources
“The execution of this MoU with Wogen and Xcelsior represents another important step in developing the commercial and financing pathways for the Green River Lithium Project. Wogen brings extensive experience in the international marketing and trading of specialist metals and minerals, while Xcelsior provides financing and capital-markets expertise focused on the critical-minerals sector. The proposed offtake range of 2,000 to 6,000 tonnes per annum LCE represents a potentially significant long-term customer opportunity for Green River. Importantly, the MoU also allows the parties to evaluate financing and investment structures alongside the proposed offtake arrangement. We look forward to working with Wogen and Xcelsior on product qualification, logistics, financing structures and the negotiation of definitive agreements.”
John Craig, Chief Executive Officer, Wogen
“Wogen is pleased to enter into this MoU with Anson Resources and Xcelsior and to evaluate the potential long-term supply of lithium carbonate from the Green River Lithium Project. Green River’s location in the United States and its proposed production profile make it a strategically relevant project for the development of secure lithium supply chains. We look forward to working with Anson and Xcelsior on product qualification, logistics, commercial terms and potential financing structures.”
Liam Farley, Chief Executive Officer, Xcelsior
“Xcelsior is pleased to support the evaluation of potential financing and investment structures for the Green River Lithium Project in partnership with Wogen. The combination of a potential long-term offtake arrangement and an appropriately structured financing solution may provide a strong foundation for advancing the Project. We look forward to working with Anson and Wogen as the parties undertake due diligence and evaluate the proposed commercial and financing arrangements.”
The next steps under the MoU involve technical discussions, product qualification, logistics and delivered-cost evaluation, and the negotiation of definitive agreements. All terms remain indicative and subject to further negotiation. Green River’s position as a USA-based lithium carbonate project gives it strategic relevance in the context of growing demand for secure, domestically sourced critical minerals supply chains, with supply commencement anticipated at approximately 2029/2030 if development, financing, permitting, construction, and commissioning proceed as planned.
Green River project development milestones running in parallel with this commercial process are material context for assessing when the 2029/2030 supply commencement window becomes achievable, as permitting, construction, and commissioning progress will ultimately gate the offtake timeline.
Don’t Miss the Next Lithium Breakthrough on the ASX
Get FREE breaking ASX lithium news delivered to your inbox within minutes of release, complete with in-depth analysis already done for you. Join 30,000+ subscribers staying ahead of the market the moment announcements hit. Click the “Free Alerts” button at Big News Blast to start receiving alerts before the market moves.