ASN: Annual Report to Shareholders
Original announcement by asx on
- Company
- Anson Resources Limited
- Ticker
- ASN
- Exchange
- ASX
- Region
- Unavailable
- Primary commodity
- Lithium
- Secondary commodities
- Uranium, Vanadium, Bromine, Zinc, Lead, Silver
- Document categories
- Resource update, Capital raise, Agreement transaction
- Extracted
- 2026-09-30 08:26:23 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Anson Resources Limited reported substantial progress for FY2026, highlighted by a 650% increase in the Green River Lithium Project's JORC Mineral Resource to 773,000 tonnes LCE, with Indicated resources up 863% to 183,000 tonnes. The company secured a binding agreement with POSCO Holdings to fund and operate a DLE demonstration plant and a definitive offtake agreement with LG Energy Solution for 4,000 tonnes per annum of battery-grade lithium carbonate. Permitting for the Green River project also advanced significantly with the final Small Scale Mining Operation approval received.
Reasoning: Anson Resources Limited reported substantial progress for FY2026, marked by a significant resource upgrade for its flagship Green River Lithium Project, securing key strategic partnerships with POSCO and LG Energy Solution, and advancing permitting. These achievements de-risk the project and position it for future development, despite the company remaining pre-revenue and facing some corporate governance challenges.
Positive factors
- Significant resource upgrade for Green River Lithium Project (650% increase in LCE)
- Substantial increase in Indicated resources (863%) for Green River
- Binding agreement with POSCO Holdings for DLE demonstration plant (funded by POSCO)
- Definitive offtake agreement with LG Energy Solution for battery-grade lithium carbonate
- Final Small Scale Mining Operation (SMO) approval received for Green River
- Positive Scoping Study results for Green River (pre-tax NPV US$1,373 million, IRR 27.5%)
- Cost discipline and reduction in director and employee expenses
- Yellow Cat project progress and positive U.S. Government 'Met' assessment
Negative factors
- Company remains pre-revenue and dependent on capital raises
- Material uncertainty regarding going concern, despite mitigation plans
- Dilution from equity raises during the year
- Paradox and Western Australian projects deferred to focus on Green River
- Two consecutive 'strikes' on remuneration report at AGMs
- All-executive board with no independent non-executive directors
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 21
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The Green River Mineral Resource was upgraded by 650% to 773,000 tonnes LCE, with Indicated Resource increasing by 863% to 183,000 tonnes.
Evidence · text
“Mineral Resource upgraded 650% to 773,000 tonnes LCE, Indicated +863% to 183,000 t (ASX 13 May 2026).”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The Green River JORC Mineral Resource grew more than sixfold, with a 650% upgrade to 773,000 tonnes LCE.
Evidence · text
“Your Company’s JORC Mineral Resource grew more than sixfold, an engineering study put hard numbers on the economics, and POSCO Holdings committed”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The Green River JORC Mineral Resource was upgraded by 650% to 773,000 tonnes LCE, indicating a significant increase in contained lithium carbonate equivalent.
Evidence · text
“Mineral Resource upgraded 650% to 773,000 t LCE, Indicated +863% to 183,000 t (ASX 13 May 2026).”
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: The average lithium grade for the Green River project increased from 93.5 mg/L to 127.8 mg/L.
Evidence · text
“reflects higher confidence in stratigraphic thickness and lithium concentration (average grade increased from 93.5 mg/L to 127.8 mg/L)”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Green River Mineral Resource estimate is based on information compiled by independent consulting geologist D. Roy Eccles (P. Geol., P. Geo.).
Evidence · text
“The information in this report that relates to Mineral Resource estimates is based on information compiled by independent consulting geologist D. Roy Eccles (P. Geol., P. Geo.).”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Green River Mineral Resource is reported in accordance with the JORC Code (2012).
Evidence · text
“Mineral Resources are reported in accordance with the JORC Code (2012).”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The Green River Mineral Resource was upgraded by 650% to 773,000 tonnes LCE.
Evidence · text
“Mineral Resource upgraded 650% to 773,000 t LCE, Indicated +863% to 183,000 t (ASX 13 May 2026).”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Paradox Mineral Resource estimate has been prepared by Mr Richard Maddocks, a Fellow of the Australasian Institute of Mining and Metallurgy.
Evidence · text
“The information contained in this report relating to Exploration Results and Mineral Resource Estimates has been prepared by Mr Richard Maddocks, MSc in Mineral Economics, BSc in Geology and Grad Dip in Applied Finance. Mr Maddocks is a Fellow of the Australasian Institute of Mining and Metallurgy (111714) with over 30 years of experience.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Paradox Mineral Resource is reported in accordance with the JORC Code (2012).
Evidence · text
“Mineral Resources are reported in accordance with the JORC Code (2012).”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The Paradox Mineral Resources are unchanged from the prior year, indicating a routine restatement.
Evidence · text
“The Mineral Resources are unchanged from the prior year.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Surprise Mineral Resource estimate is based on information compiled by Grant Louw of Auralia Mining Consulting.
Evidence · text
“The information in this report that relates to in-situ Mineral Resources is based on information compiled by Grant Louw of Auralia Mining Consulting.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Surprise Mineral Resource is a JORC 2012 compliant estimate.
Evidence · text
“Surprise Deposit maiden Inferred Mineral Resource, JORC 2012”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The Surprise Deposit is described as a 'maiden Inferred Mineral Resource'.
Evidence · text
“Surprise Deposit maiden Inferred Mineral Resource, JORC 2012”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Mary Springs Mineral Resources information has been compiled and assessed by Mr Bill Oliver, a consultant to Anson Resources Limited.
Evidence · text
“The information in this report that relates to the Mary Springs Mineral Resources complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed by Mr Bill Oliver, a consultant to Anson Resources Limited and Auralia Mining Consulting Pty Ltd.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mary Springs Mineral Resource complies with the 2012 Edition of the JORC Code.
Evidence · text
“The information in this report that relates to the Mary Springs Mineral Resources complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code)”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The Mary Springs Mineral Resource was announced to the ASX on 13 October 2017 and is unchanged from the prior year.
Evidence · text
“The Mary Springs Mineral Resource was announced to the ASX on 13 October 2017. The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed.”
Historical Estimate Onlynegative
Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.
Why it applies: The Yellow Cat estimate is explicitly stated as a 'historical estimate' and 'not reported in accordance with the JORC Code (2012 Edition) and is not a Mineral Resource'.
Evidence · text
“A historical estimate of 56,850 tons at 2,400 ppm U₃O₈ and 1.47% V₂O₅ exists for the Yellow Cat area (ASX 4 February 2026). ... The historical estimate is not reported in accordance with the JORC Code (2012 Edition) and is not a Mineral Resource.”
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: The document states that 'A Competent Person has not done sufficient work to classify the historical estimate as a Mineral Resource in accordance with the JORC Code'.
Evidence · text
“A Competent Person has not done sufficient work to classify the historical estimate as a Mineral Resource in accordance with the JORC Code, and it is uncertain that following further evaluation or exploration work the historical estimate will be able to be reported as a Mineral Resource.”
Stale Data Re-releasenegative · Story-specific tag
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: The Yellow Cat historical estimate is based on drilling carried out between 1951 and 1954, making the data very old despite a recent re-release.
Evidence · text
“It was interpreted from six phases of drilling carried out by the U.S. Bureau of Mines in conjunction with the U.S. Geological Survey between 8 October 1951 and 23 November 1954”
Extracted facts
Stored fact records: 21. Some facts used in scoring do not have a stored record.
Resource Estimates (21)
indicatedGreen River Lithium Project · lithiumGrade: 127.8Grade Unit: mg/LContained Metal: 183000Contained Unit: t lceView all detailsHide details
Identity
- Project
- Green River Lithium Project
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2026-05-13T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- D. Roy Eccles
- Resource group id
- resource:25ca742553d79528da8d
Resource Data
- Category
- indicated
- Grade
- 127.8
- Grade Unit
- mg/L
- Contained Metal
- 183000
- Contained Unit
- t lce
- Cutoff Grade
- 50
- Cutoff Unit
- mg/L Li
Prior Estimate
- Resource Date
- 2026-05-13
- Prior Contained Metal
- 19000
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The indicated resource for lithium at Green River shows a substantial increase in contained LCE and a strong grade, indicating significant project de-risking and growth in confidence.
Positive factors
- Significant increase in contained LCE (863%) compared to prior estimate
- Grade of 127.8 mg/L Li is strong for a brine resource
- JORC compliant estimate with QP sign-off
Evidence · table
“183,000”
Context: Indicated
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 183000 against 19000 previously
inferredGreen River Lithium Project · lithiumGrade: 127.8Grade Unit: mg/LContained Metal: 590000Contained Unit: t lceView all detailsHide details
Identity
- Project
- Green River Lithium Project
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2026-05-13T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- D. Roy Eccles
- Resource group id
- resource:60be68e4f9292be67411
Resource Data
- Category
- inferred
- Grade
- 127.8
- Grade Unit
- mg/L
- Contained Metal
- 590000
- Contained Unit
- t lce
- Cutoff Grade
- 50
- Cutoff Unit
- mg/L Li
Prior Estimate
- Resource Date
- 2026-05-13
- Prior Contained Metal
- 84000
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource for lithium at Green River shows a substantial increase in contained LCE and a strong grade, contributing significantly to the overall resource growth, though it remains in the inferred category.
Positive factors
- Significant increase in contained LCE (602%) compared to prior estimate
- Grade of 127.8 mg/L Li is strong for a brine resource
- JORC compliant estimate with QP sign-off
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“590,000”
Context: Inferred
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 590000 against 84000 previously
indicatedParadox Lithium · lithiumTonnes: 562000000Grade: 123Grade Unit: ppmContained Metal: 367000Contained Unit: t lceView all detailsHide details
Identity
- Project
- Paradox Lithium
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2023-10-16T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Richard Maddocks
- Resource group id
- resource:98fae735b827d4e8b7e3
Resource Data
- Category
- indicated
- Tonnes
- 562000000
- Grade
- 123
- Grade Unit
- ppm
- Contained Metal
- 367000
- Contained Unit
- t lce
Prior Estimate
- Resource Date
- 2023-10-16
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The indicated resource for lithium at Paradox is a substantial, JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period.
Positive factors
- Indicated category provides reasonable geological confidence
- JORC compliant estimate with QP sign-off
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Lower grade compared to Green River project
Evidence · table
“123”
Context: 562
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.0 years before this release
indicatedParadox Lithium Project · bromineTonnes: 562000000Grade: 3398Grade Unit: ppmContained Metal: 1910000Contained Unit: t br₂View all detailsHide details
Identity
- Project
- Paradox Lithium Project
- Commodity
- bromine
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2023-10-16T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Richard Maddocks
- Resource group id
- resource:a90303182dee4cf9c4e2
Resource Data
- Category
- indicated
- Tonnes
- 562000000
- Grade
- 3398
- Grade Unit
- ppm
- Contained Metal
- 1910000
- Contained Unit
- t br₂
Prior Estimate
- Resource Date
- 2023-10-16
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The indicated resource for bromine at Paradox is a substantial, JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period.
Positive factors
- Indicated category provides reasonable geological confidence
- JORC compliant estimate with QP sign-off
- Significant contained bromine as a potential byproduct
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
Evidence · table
“3,398”
Context: Indicated
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.0 years before this release
inferredParadox Lithium · lithiumTonnes: 1954000000Grade: 109Grade Unit: ppmContained Metal: 1138000Contained Unit: t lceView all detailsHide details
Identity
- Project
- Paradox Lithium
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2023-10-16T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Richard Maddocks
- Resource group id
- resource:4cd52023506bf1b46d07
Resource Data
- Category
- inferred
- Tonnes
- 1954000000
- Grade
- 109
- Grade Unit
- ppm
- Contained Metal
- 1138000
- Contained Unit
- t lce
Prior Estimate
- Resource Date
- 2023-10-16
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource for lithium at Paradox is a large, JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period and remains in the inferred category.
Positive factors
- JORC compliant estimate with QP sign-off
- Large contained lithium resource
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Inferred category has lower geological confidence
- Lower grade compared to Green River project
Evidence · table
“109”
Context: 1,954
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.0 years before this release
inferredParadox Lithium Project · bromineTonnes: 1954000000Grade: 2915Grade Unit: ppmContained Metal: 5699000Contained Unit: t br₂View all detailsHide details
Identity
- Project
- Paradox Lithium Project
- Commodity
- bromine
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2023-10-16T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Richard Maddocks
- Resource group id
- resource:9f90a5034d3f07884d8b
Resource Data
- Category
- inferred
- Tonnes
- 1954000000
- Grade
- 2915
- Grade Unit
- ppm
- Contained Metal
- 5699000
- Contained Unit
- t br₂
Prior Estimate
- Resource Date
- 2023-10-16
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource for bromine at Paradox is a large, JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period and remains in the inferred category.
Positive factors
- JORC compliant estimate with QP sign-off
- Large contained bromine resource as a potential byproduct
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Inferred category has lower geological confidence
Evidence · table
“2,915”
Context: Inferred
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.0 years before this release
inferredParadox Lithium Project · lithiumTonnes: 2516000000Grade: 112Grade Unit: ppmContained Metal: 1504000Contained Unit: t lceView all detailsHide details
Identity
- Project
- Paradox Lithium Project
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2023-10-16T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Richard Maddocks
- Resource group id
- resource:6c626dcc32be501cdded
Resource Data
- Category
- inferred
- Tonnes
- 2516000000
- Grade
- 112
- Grade Unit
- ppm
- Contained Metal
- 1504000
- Contained Unit
- t lce
Prior Estimate
- Resource Date
- 2023-10-16
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total resource for lithium at Paradox is a large, JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period and is largely in the inferred category.
Positive factors
- JORC compliant estimate with QP sign-off
- Large total contained lithium resource
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Total resource is predominantly inferred, indicating lower confidence
- Lower grade compared to Green River project
Evidence · table
“112”
Context: Resource
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.0 years before this release
inferredParadox Lithium Project · bromineTonnes: 2516000000Grade: 3023Grade Unit: ppmContained Metal: 7609000Contained Unit: t br₂View all detailsHide details
Identity
- Project
- Paradox Lithium Project
- Commodity
- bromine
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2023-10-16T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Richard Maddocks
- Resource group id
- resource:6c626dcc32be501cdded
Resource Data
- Category
- inferred
- Tonnes
- 2516000000
- Grade
- 3023
- Grade Unit
- ppm
- Contained Metal
- 7609000
- Contained Unit
- t br₂
Prior Estimate
- Resource Date
- 2023-10-16
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total resource for bromine at Paradox is a large, JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period and is largely in the inferred category.
Positive factors
- JORC compliant estimate with QP sign-off
- Large total contained bromine resource as a potential byproduct
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Total resource is predominantly inferred, indicating lower confidence
Evidence · table
“3,023”
Context: Resource
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.0 years before this release
inferredSurprise Project · leadTonnes: 103000Grade: 2.7Grade Unit: %Contained Metal: 2781Contained Unit: tView all detailsHide details
Identity
- Project
- Surprise Project
- Commodity
- lead
- Region
- mid-west, wa
- Reported Region
- Mid-West, WA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2024-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Grant Louw
- Resource group id
- resource:6e53485a3d174a5bc372
Resource Data
- Category
- inferred
- Tonnes
- 103000
- Grade
- 2.7
- Grade Unit
- %
- Contained Metal
- 2781
- Contained Unit
- t
- Cutoff Grade
- 1
- Cutoff Unit
- % Pb
Prior Estimate
- Resource Date
- 2024-10-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource for lead at Surprise is a JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period and is relatively small.
Positive factors
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Inferred category has lower geological confidence
- Relatively small tonnage
Evidence · table
“2.7”
Context: Inferred
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSurprise Project · zincTonnes: 103000Grade: 0.45Grade Unit: %Contained Metal: 464Contained Unit: tView all detailsHide details
Identity
- Project
- Surprise Project
- Commodity
- zinc
- Region
- mid-west, wa
- Reported Region
- Mid-West, WA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2024-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Grant Louw
- Resource group id
- resource:6e53485a3d174a5bc372
Resource Data
- Category
- inferred
- Tonnes
- 103000
- Grade
- 0.45
- Grade Unit
- %
- Contained Metal
- 464
- Contained Unit
- t
- Cutoff Grade
- 1
- Cutoff Unit
- % Pb
Prior Estimate
- Resource Date
- 2024-10-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource for zinc at Surprise is a JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period and has a very low grade.
Positive factors
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Inferred category has lower geological confidence
- Very low grade for zinc
- Relatively small tonnage
Evidence · table
“0.45”
Context: Inferred
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSurprise Project · silverTonnes: 103000Grade: 1.3Grade Unit: g/tContained Metal: 4723Contained Unit: ozView all detailsHide details
Identity
- Project
- Surprise Project
- Commodity
- silver
- Region
- mid-west, wa
- Reported Region
- Mid-West, WA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2024-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Grant Louw
- Resource group id
- resource:6e53485a3d174a5bc372
Resource Data
- Category
- inferred
- Tonnes
- 103000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 4723
- Contained Unit
- oz
- Cutoff Grade
- 1
- Cutoff Unit
- % Pb
Prior Estimate
- Resource Date
- 2024-10-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource for silver at Surprise is a JORC compliant estimate, but it is a restatement of prior data with no new developments in the current reporting period and has a very low grade.
Positive factors
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Inferred category has lower geological confidence
- Very low grade for silver
- Relatively small tonnage
Evidence · table
“1.3”
Context: Inferred
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMary Springs · leadTonnes: 390000Grade: 6.5Grade Unit: %Contained Metal: 25350Contained Unit: tView all detailsHide details
Identity
- Project
- Mary Springs
- Commodity
- lead
- Region
- mid-west, wa
- Reported Region
- Mid-West, WA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Effective date
- 2017-10-13T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Bill Oliver
- Resource group id
- resource:55c853f74fbbaf118520
Resource Data
- Category
- inferred
- Tonnes
- 390000
- Grade
- 6.5
- Grade Unit
- %
- Contained Metal
- 25350
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2017-10-13
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Mary Springs lead resource is a JORC compliant estimate, but it is a stale restatement of prior data with no new developments and a combined category, reducing its current relevance.
Positive factors
- JORC compliant estimate with QP sign-off
Negative factors
- Estimate is unchanged from prior year, indicating no new progress
- Estimate is from 2017, making it stale
- Combined Indicated and Inferred category reduces confidence
Evidence · table
“6.5”
Context: Indicated and inferred
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 9.0 years before this release
inferredYellow Cat Uranium-Vanadium Project · uraniumTonnes: 56850Grade: 2400Grade Unit: ppm U₃O₈Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yellow Cat Uranium-Vanadium Project
- Commodity
- uranium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Peter (Greg) Knox
- Resource group id
- resource:a3168d55319e6e879fb8
Resource Data
- Category
- inferred
- Tonnes
- 56850
- Grade
- 2400
- Grade Unit
- ppm U₃O₈
Prior Estimate
- Resource Date
- 1956
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 1956-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Yellow Cat uranium estimate is historical, not JORC compliant, and based on very old data, making it highly speculative and unreliable for current resource assessment.
Negative factors
- Historical estimate only, not JORC compliant
- Uncertainty that further exploration will result in a JORC Mineral Resource
- Data is very old (1950s) and pre-dates modern QA/QC practices
Evidence · text
“A historical estimate of 56,850 tons at 2,400 ppm U₃O₈ and 1.47% V₂O₅ exists for the Yellow Cat area (ASX 4 February 2026).”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 70.7 years before this release
inferredYellow Cat Uranium-Vanadium Project · vanadiumTonnes: 56850Grade: 1.47Grade Unit: % V₂O₅Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yellow Cat Uranium-Vanadium Project
- Commodity
- vanadium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Peter (Greg) Knox
- Resource group id
- resource:a3168d55319e6e879fb8
Resource Data
- Category
- inferred
- Tonnes
- 56850
- Grade
- 1.47
- Grade Unit
- % V₂O₅
Prior Estimate
- Resource Date
- 1956
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 1956-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Yellow Cat vanadium estimate is historical, not JORC compliant, and based on very old data, making it highly speculative and unreliable for current resource assessment.
Negative factors
- Historical estimate only, not JORC compliant
- Uncertainty that further exploration will result in a JORC Mineral Resource
- Data is very old (1950s) and pre-dates modern QA/QC practices
Evidence · text
“A historical estimate of 56,850 tons at 2,400 ppm U₃O₈ and 1.47% V₂O₅ exists for the Yellow Cat area (ASX 4 February 2026).”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 70.7 years before this release
inferredYellow Cat Uranium-Vanadium Project · uraniumTonnes: 38250Grade: 0.24Grade Unit: % U₃O₈Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yellow Cat Uranium-Vanadium Project
- Commodity
- uranium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Peter (Greg) Knox
- Resource group id
- resource:6ac9a8dd5f264a720121
Resource Data
- Category
- inferred
- Tonnes
- 38250
- Grade
- 0.24
- Grade Unit
- % U₃O₈
Prior Estimate
- Resource Date
- 1956
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 1956-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This sub-estimate for uranium at Yellow Cat is historical, not JORC compliant, and based on very old data, making it highly speculative and unreliable for current resource assessment.
Negative factors
- Historical estimate only, not JORC compliant
- Uncertainty that further exploration will result in a JORC Mineral Resource
- Data is very old (1950s) and pre-dates modern QA/QC practices
Evidence · text
“38,250 tons at 0.24% U₃O₈ and 1.50% V₂O₅”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 70.7 years before this release
inferredYellow Cat Uranium-Vanadium Project · vanadiumTonnes: 38250Grade: 1.5Grade Unit: % V₂O₅Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yellow Cat Uranium-Vanadium Project
- Commodity
- vanadium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Peter (Greg) Knox
- Resource group id
- resource:6ac9a8dd5f264a720121
Resource Data
- Category
- inferred
- Tonnes
- 38250
- Grade
- 1.5
- Grade Unit
- % V₂O₅
Prior Estimate
- Resource Date
- 1956
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 1956-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This sub-estimate for vanadium at Yellow Cat is historical, not JORC compliant, and based on very old data, making it highly speculative and unreliable for current resource assessment.
Negative factors
- Historical estimate only, not JORC compliant
- Uncertainty that further exploration will result in a JORC Mineral Resource
- Data is very old (1950s) and pre-dates modern QA/QC practices
Evidence · text
“38,250 tons at 0.24% U₃O₈ and 1.50% V₂O₅”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 70.7 years before this release
inferredYellow Cat Uranium-Vanadium Project · uraniumTonnes: 18600Grade: 0.24Grade Unit: % U₃O₈Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yellow Cat Uranium-Vanadium Project
- Commodity
- uranium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Peter (Greg) Knox
- Resource group id
- resource:3b006b9997ee1bef26c2
Resource Data
- Category
- inferred
- Tonnes
- 18600
- Grade
- 0.24
- Grade Unit
- % U₃O₈
Prior Estimate
- Resource Date
- 1956
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 1956-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This sub-estimate for uranium at Yellow Cat is historical, not JORC compliant, and based on very old data, making it highly speculative and unreliable for current resource assessment.
Negative factors
- Historical estimate only, not JORC compliant
- Uncertainty that further exploration will result in a JORC Mineral Resource
- Data is very old (1950s) and pre-dates modern QA/QC practices
Evidence · text
“18,600 tons at 0.24% U₃O₈ and 1.42% V₂O₅”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 70.7 years before this release
inferredYellow Cat Uranium-Vanadium Project · vanadiumTonnes: 18600Grade: 1.42Grade Unit: % V₂O₅Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yellow Cat Uranium-Vanadium Project
- Commodity
- vanadium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Peter (Greg) Knox
- Resource group id
- resource:3b006b9997ee1bef26c2
Resource Data
- Category
- inferred
- Tonnes
- 18600
- Grade
- 1.42
- Grade Unit
- % V₂O₅
Prior Estimate
- Resource Date
- 1956
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 1956-01-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This sub-estimate for vanadium at Yellow Cat is historical, not JORC compliant, and based on very old data, making it highly speculative and unreliable for current resource assessment.
Negative factors
- Historical estimate only, not JORC compliant
- Uncertainty that further exploration will result in a JORC Mineral Resource
- Data is very old (1950s) and pre-dates modern QA/QC practices
Evidence · text
“18,600 tons at 0.24% U₃O₈ and 1.42% V₂O₅”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 70.7 years before this release
inferredThe Surprise · leadTonnes: 103000Grade: 2781Grade Unit: tView all detailsHide details
Identity
- Project
- The Surprise
- Commodity
- lead
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Resource group id
- resource:3060c0bac9c52f79722f
Resource Data
- Category
- inferred
- Tonnes
- 103000
- Grade
- 2781
- Grade Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“2,781”
Context: 103,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredThe Surprise · zincTonnes: 103000Grade: 464Grade Unit: tView all detailsHide details
Identity
- Project
- The Surprise
- Commodity
- zinc
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Resource group id
- resource:3060c0bac9c52f79722f
Resource Data
- Category
- inferred
- Tonnes
- 103000
- Grade
- 464
- Grade Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“464”
Context: 103,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredThe Surprise · silverTonnes: 103000Grade: 1.3Grade Unit: g/tContained Metal: 4723Contained Unit: ozView all detailsHide details
Identity
- Project
- The Surprise
- Commodity
- silver
- Ticker
- ASN
Resource scope
- Estimate type
- resource
- Resource group id
- resource:3060c0bac9c52f79722f
Resource Data
- Category
- inferred
- Tonnes
- 103000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 4723
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“1.3”
Context: 103,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.