Anson Resources’ Share Price Lifts on High Boron Recoveries
Despite being three months into the year, Anson Resources limited [ASX:ASN] is experiencing a lot of encouraging news from many of its projects.
Today Anson Resources’ share price saw gains of 2.86%, to trade at $0.072 at the time of writing.
This morning’s announcement noted high Boron recoveries at Anson’s Paradox Brine Project, from laboratory test work done by Hazen Research Inc.
It was performed on samples from its re-entry drilling of its Cane Greek project in March/April 2018.
Anson Resources’ share price recovering?
Over the last six months Anson’s share price has been trading sideways. But the Boron recovery is giving investors a little confidence.
Boron is an in-demand mineral used to make semiconductors such as Borates, which are used in over 300 applications, and supplies three-quarters of the world’s producers of ceramics, detergents, fertilizers and glass, as reported by Proactive Investors Australia.
ASN’s earnings per year have fallen by an average of 8.6% for the past three years, with the company’s earnings per share continuing to decline over the last three years. Revenue also dropped 183%.
But shareholders will be pleased to know that, over the last three years, shareholder returns have increased by 381%.
What’s to come for Anson Resources
Anson Resources is continuing with its Lithium processing projects. Its Long Canyon No.2 Well Re-entry is on track.
Yet, the Anson Resources growth has been a little underwhelming for shareholders as expressed in its weakening share price over last year — when compared to 2018 July spike.
Investors will have to wait for a little to see sustained fruition in share price, from these explorations.
More to come.
Regards,
Ryan Clarkson-Ledward,
For Money Morning
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