Anson Resources higher as initial Novonix results show Paradox brine samples exceed commercially available Tier 1 products

Anson Resources Ltd (ASX:ASN) (FRA:9MY) has been up to 47% higher on positive results from initial test-work by Novonix Limited's (ASX:NVX) (OTCQX:NVNXF) Novonix Battery Technology Solutions using lithium hydroxide and lithium carbonate bulk samples from the company’s flagship Paradox Brine Project in Utah. The results showed that 99.9% purity lithium carbonate electrochemical behaviour performance exceeded commercial battery-grade lithium-ion batteries and lithium hydroxide demonstrated similar performance to existing commercial products. Anson executive chairman and CEO Bruce Richardson said: “These are truly exciting results for Anson that support the commercial grade quality of the lithium products produced from our Paradox Brine.” Investors have warmly welcomed the results with shares as much as 47% higher to 9.8 cents. Capacity retention results Novonix sintered commercial NMC622-hydroxide precursor powders with Tier 1 commercial lithium products, Anson’s lithium carbonate and lithium hydroxide and conducted an electrochemical evaluation of the respective performance in coin half-cells. Batteries were charged and discharged for up to 10 cycles (cycle testing ongoing) and from coin cells, capacity retention and impedance growth were measured. Anson’s lithium carbonate out-performed the commercial product blend while its lithium hydroxide performed similarly to the market available product. In particular, the company’s lithium carbonate showed improved capacity retention over commercial-grade lithium carbonate. Capacity retention improvement in batteries is a key objective in the lithium-ion battery industry to extend battery life. SEM/XRD analysis Both Scanning Electron Microscopy (SEM) and X-ray Diffraction (XRD) analyses were conducted to create an understanding of the crystal structure of both of Anson’s lithium products and the resultant LiNi0.6Mn0.2Co0.2O2 (NMC622) cathode powders. It was determined that both of the company’s lithium products produced a ‘well-ordered structure’ showing phase-purity compared to commercial lithium products. This determination was made to ensure suitability of Anson’s lithium products for lithiation prior to the commencement of the comparative performance test work. Ongoing tests Due to the success of the initial test-work and its findings, Novonix is proceeding with a larger bulk sample testing program over the next several months which will include hundreds of charge and discharge cycles. The data collected from this test-work will be used to calculate the comparative ‘fade rate’ which provides insight of the projected life span of the lithium-ion battery using Anson’s lithium products. In addition, repeatability, homogeneity and cell characterisation and validation will also be conducted in full lithium-ion ‘pouch cells’. Richardson said: “This ongoing test work with Novonix is an important step in the commercial development of the Paradox Project and will provide battery makers and potential offtake partners with considerable confidence in our ability to produce a high purity product.” The company expects the final test report will be provided next quarter.