Ascent Resources Share Chat (AST)

Unbelievable how long the whole legal process is taking.

Putting Slovenia completely aside...what exactly is happening with the rest of the business?? Helium in demand! The new CEO is just as non existent as Andrew Dennan was! We've had a few updates on bonuses for Directors but not much else!

This has been a circus for years!!(

Dont order your lambo just yet. Best case scenario, if they win in June and there's no settlement, i'd expect 3 years to get paid: 4 months to file annulment + 24 months of annulment process + 4 months while Slovenia processes the payment through its Ministry of Finance = total of 32 months typically.

The longer the delay and any resistance to the outcome by the government is an own goal, why any investors would want to support any business venture in their country.

This is from a few days ago, shows quite an active programme this year and early next:

https://app.sharelinktechnologies.com/announcement-preview/asx/63e16c7a6cca926574557286309856c3

Regards,

Ed.

Kicking the can

The longer this drags on makes it look like the arbitration is being guided by political influence and not being impartial.

The shenanigans going on in the euro zone after the Hungary election may be having a spin off on this process.

The quicker this gets resolved the better, there have been a few financial reporters watching what is going on here.

Yes i agree , although as i said previously i would be happy getting my original investment back

GLA

Good news in a roundabout sort of way.

You dont take that much time if the claim is rubbish!

Rad- there's your news.

No RNS. May be some time this week

Https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/22/21

The ICSID schedule / agenda for this AST case?

Assuming a scheduled meeting will be required to sign and approve the final version of the ICSID paper, where might the scheduled meeting date be located? I am unable to find it on the site.

I cant buy any more unless i sell something and theres not much news around to temp me.

If no news tomorrow morning i will take that as they have the order but need to work through the financial and agree with the nomad how to present it.

See how i feel in the morning about a last ditch punt but 1k is the max....my wife watches my bank account like hawk these days😁👊👊

I topped up this morning 3 trades they are all showing as sells. News around the corner hopefully. Gla.

Too true.....the last rns on the ect claim informed us a week before that there would be an extension.

So my thinking now is that window has passed so we should really find out whats going on later today or very early next week👍

Quite possibly an RNS could land anytime today, not necessarily a 7am one. If delayed again I’m sure they would announce it. Saying that the last RNS said on or around the 30th. There is always tomorrow.

You would think if there was going to be a further extention then ast would have informed the market by now.

As such, here's hoping for some good news later today or early next week.

Be nice if its a big big big win😁

It will rise depending on the amount of award

30th April is the issue of the timing of issue of an award, not the date of award….

I was hoping this would fly before RNS lands

PROBABILITY SPLIT: - Bullish / Absorption: 45%

- Bearish / Distribution: 55%

CONFIRMATION TRIGGER: - Break and hold >0.70

- Large prints skewing buy-side

- Reduced selling at 0.65

INVALIDATION TRIGGER:- Break <0.60

- Continued sell dominance at 0.65

- Failure to hold mid-range

I dont think they will get awarded 400 but they could get 100+ which would give them ar least 10m and there is also the jv money to come.

So they could be cash rich and holding very good assets in utah.....i found the deal with neometals very interesting, the numbers are off the scale good so the sp could rise in the near term but longer term its got bags of potential.

The sp has moved north a bit on interest but the cash claims hold the key for the market to properly evaluate the risk going forward.

Watch for a placing on news

Only a very small amount of shares available to buy.

Could be good news for AST?

https://x.com/Share_Talk/status/2048324394175300024

Https://www.sharecast.com/news/aim-bulletin/ascent-resources-awaiting-timing-clarity-in-its-claim-against-slovenia--22146384.html

Lithium market could enter a long-term deficit from 2026

Agustín de Vicente / April 22, 2026 | 19:02

The global lithium market is expected to move into a material supply deficit starting in 2026, according to Canaccord Genuity, which says the imbalance could persist until 2035 as mine investment fails to keep pace with long-term demand growth.

In a note released on Wednesday, Canaccord analysts said tightening supply conditions are now outweighing weaker near-term demand, shifting the market outlook for one of the most strategic metals in the energy transition. Even if higher lithium prices in 2027 and 2028 trigger a fresh supply response, the firm believes new output would still fall short of projected demand growth.

Supply concerns intensify pressure on lithium prices

The forecast comes as lithium prices have climbed amid renewed concerns over supply security. One of the biggest recent shocks came from Zimbabwe’s suspension of exports of raw minerals and lithium concentrates, a measure announced on February 25, 2026, as the government cited export malpractices and pushed for more local processing.

That policy shift had an immediate effect on the market. Reuters reported that lithium carbonate futures in China jumped sharply after the Zimbabwe move, underscoring how sensitive the market has become to disruptions in key producing regions. Zimbabwe exported more than 1.1 million metric tons of lithium-bearing concentrate in 2025 and is one of the most important suppliers to China’s battery materials chain.

Long-term lithium demand still requires new mine investment

Canaccord’s projection assumes there are no additional disruptions in China or elsewhere, meaning any fresh operational setbacks or policy shocks could extend the deficit beyond 2035. The bank argues that the market will need significant investment in new lithium supply over the long term, even without major upward revisions to demand forecasts.

The outlook reinforces a broader market view that lithium is moving out of its glut phase and into a structurally tighter cycle, with EV batteries and energy storage continuing to underpin long-range demand.

Why this matters for the mining industry

For miners, developers and investors, the Canaccord outlook points to a market where project execution, permitting, financing and downstream strategy will become increasingly important. If the expected deficit materializes, lithium producers with scalable assets and near-term development pipelines could be better positioned to benefit from a stronger pricing environment.

How Will Multiple Utah Projects Create Supply Chain Synergies?

Intrepid Potash's Wendover Complementary Strategy

Intrepid Potash's existing operations at Wendover demonstrate proven brine processing capabilities that complement new lithium extraction projects. The company's approach focuses on byproduct lithium recovery from ongoing potash operations, achieving extraction efficiency rates exceeding 90% through integrated processing systems. This operational model reduces infrastructure development costs while leveraging established regulatory approvals and environmental management systems.

Shared infrastructure development opportunities include transportation networks, power generation facilities, water management systems, and specialised equipment maintenance capabilities. Multiple operations in proximity create economies of scale for these support systems while reducing individual project development risks and capital requirements.

The integrated approach enables operational flexibility during market cycles, with companies able to optimise production ratios between different mineral products based on market pricing and demand patterns. This diversification provides revenue stability that single-commodity operations cannot achieve.

Anson Resources' Nuclear-Grade Applications

Specialised lithium applications extend beyond battery markets into nuclear and defence sectors requiring ultra-high purity materials. Nuclear-grade lithium typically demands purity levels exceeding 99.9% with specific isotopic compositions for reactor applications. These markets offer premium pricing opportunities that can exceed battery-grade lithium values by 50-100%, though volume requirements remain significantly smaller than commercial battery demand.

Defence contractor supply agreements typically include long-term pricing stability and volume commitments that provide revenue certainty independent of commercial lithium market volatility. These applications serve strategic national defence requirements including submarine nuclear reactors, missile guidance systems, and specialised electronic components requiring consistent material specifications.

High-purity lithium chloride production for specialised applications requires additional processing capabilities beyond standard lithium carbonate operations, potentially creating opportunities for value-added processing within Utah's developing lithium cluster.

Phase 2 expansion timing aligns with anticipated battery manufacturing scaling across North America, positioning Utah production to serve incremental demand during peak growth phases. Combined Phase 1 and Phase 2 capacity would generate approximately 350-450% increase over current U.S. baseline production, representing substantial progress toward domestic supply security objectives.

Engineering completion and ongoing permitting processes indicate advanced project development status, though regulatory approval timelines remain subject to environmental review processes. Construction timelines typically require 18-24 months for lithium carbonate facilities, with commissioning phases extending 6-12 months before full production capability.

How Does Utah's Extraction Technology Compare Globally?

Ion Exchange vs. Traditional Evaporation Methods

Direct lithium extraction technologies employed in Utah operations offer significant advantages over conventional solar evaporation methods used in South American brine operations. Traditional evaporation approaches require 12-18 months of processing time in optimal arid climates, with timelines extending to 24+ months in temperate regions due to precipitation interference. Utah's climate conditions would severely constrain evaporation efficiency without technological alternatives.

Ion exchange processing compresses extraction timelines to 4-8 hours versus months-long evaporation cycles, enabling responsive production scaling based on market demand fluctuations. Water consumption comparisons show dramatic efficiency improvements, with ion exchange methods requiring 20-50 gallons per kilogram of lithium carbonate equivalent versus 200-400 gallons for traditional evaporation processes.

Recovery efficiency represents another critical advantage for advanced lithium extraction techniques. Traditional solar evaporation methods typically achieve 40-60% lithium recovery rates, with substantial quantities remaining in concentrated brine solutions requiring additional processing stages. Ion exchange technologies can potentially achieve higher recovery rates while producing battery-grade lithium carbonate directly, eliminating multiple downstream purification requirements.

Environmental advantages extend beyond water consumption reduction to include minimal freshwater usage from Great Salt Lake sustainability concerns. Direct lithium extraction operates independently of climate patterns and precipitation cycles, providing operational reliability that weather-dependent evaporation cannot match in Utah's geographic conditions.

What Makes the Lilac-Traxys Partnership a Game-Changer?

Deal Structure Analysis: 10-Year Offtake Agreements

The recently announced lithium supply deal Utah between Lilac Solutions and Traxys North America establishes a binding 10-year offtake agreement covering 50,000 tonnes of battery-grade lithium carbonate. This agreement represents 100% of the project's Phase 1 output capacity, providing complete revenue certainty for initial production phases beginning in late 2027. The deal structure eliminates direct market sales risk for Lilac while committing Traxys to long-term supply obligations extending through 2037.

Take-or-pay contract mechanisms in commodity markets typically include several critical components that protect both parties while ensuring supply reliability:

Minimum purchase volume commitments that guarantee offtake regardless of market conditions

Price adjustment mechanisms tied to commodity indices or negotiated escalation clauses

Quality specifications for delivered product requiring battery-grade purity levels exceeding 99.5%

Force majeure provisions covering operational disruptions beyond party control

Commodity merchant involvement through Traxys North America indicates sophisticated risk assessment and market confidence extending through the 2030s. Traxys' willingness to assume commodity price exposure suggests internal analysis supporting favourable lithium market fundamentals over the agreement duration. This risk allocation enables Lilac to focus on operational excellence rather than market timing, while Traxys leverages its trading expertise to optimise downstream sales.

Production Timeline and Market Impact Projections

Current U.S. lithium carbonate production operates at approximately 4,500-5,500 tonnes annually, primarily from Albemarle's Silver Peak facility in Nevada. Lilac's Phase 1 capacity of 5,000 tonnes per year represents a complete doubling of domestic battery-grade lithium production capacity, fundamentally altering America's supply independence calculations.

The Strategic Context Behind Utah's Lithium Rush

Why Utah Became America's Lithium Frontier

Utah's emergence as a lithium production hub stems from unique geological advantages that position the state as America's most promising domestic source for this critical mineral. The Great Salt Lake contains an estimated 12-13 million tonnes of dissolved lithium, representing one of the world's largest untapped lithium resources according to United States Geological Survey assessments. This massive resource base contains approximately 1,500-2,000 mg/L of lithium in brine concentrations, creating competitive extraction opportunities within the global marketplace.

The state's existing potash mining infrastructure provides established operational frameworks that reduce development complexity for new lithium operations. Companies like Intrepid Potash have operated brine processing facilities at the Great Salt Lake for decades, demonstrating the technical feasibility and regulatory pathway for large-scale mineral extraction from these deposits. This operational history creates significant advantages for new entrants, including established supply chains, skilled workforce availability, and proven environmental management systems.

Utah's geographic positioning offers strategic advantages for battery supply chain integration across North America. The state sits within 500 miles of major automotive manufacturing centres and proposed battery gigafactories, reducing transportation costs compared to international suppliers. Furthermore, federal critical minerals designation has accelerated investment flows into Utah projects, while state-level regulatory frameworks have evolved to support responsible extraction development.

The National Security Imperative for Domestic Lithium

The United States imports approximately 70-80% of its lithium carbonate equivalent requirements, creating substantial supply chain vulnerabilities that affect both commercial and defence sectors. Current import patterns show Australia supplying roughly 45% of U.S. lithium imports, with Chile contributing 25-30% and other sources providing the remainder. This geographic concentration in three primary producing regions exposes American industries to geopolitical risks and price manipulation scenarios.

Strategic stockpile requirements for lithium extend beyond commercial battery applications into specialised defence uses including aerospace systems, military electronics, and thermal battery technologies. These applications demand consistent supply availability and often require higher purity specifications than commercial-grade materials. Defence Department procurement budgets experienced significant pressure during the 2021-2022 lithium price surge, when costs increased from $5,000 per tonne to over $65,000 per tonne, demonstrating the fiscal impact of supply chain dependencies.

Should read 2.5% not 5%

Conservative case ($200M–$330M)

5% → $5M – $8.25M

3.5% $7M - $11.25

AST: ~$5M – $11M/year

Massive share price re rate watch out.

I have no idea about extraction costs or fee's etc which would be bourne by neometals anyway but if these tonnages are correct the value of this too ast could be 10's if not 100's of millions.

Whatever.....the good news is that neometals are on the go and quick about it👏

Neometals sure have estimated a lot of Potash in this area! As you say OAP worth investors keeping an eye on them. Their report today certainly was detailed.

Regards,

Ed.

SC,

Yes true, there are the preferential shares for any ICSID award. However with the 7.8m Euro claim against Geoenergo, the current oil/gas/helium/brine wellstock asset in the USA, the market cap here is well covered already imo. So any decent % win of the 656m Euro ICSID claim could be material even at 10% of the award. Not long to wait now to find out. I've taken a punt previously just really for that reason. I had these on my watch list when I could have taken those waves of preferential shares but didn't want to be tied in here.

Regards,

Ed.

Vast majority of rights to any potential award distribution already carved off into a separate vehicle for holders back in 2024/5.

Rns in morning.?? Last big buy was way above the rest. Time will tell. Good luck all. This dog might have its day yet.

Some large trades been going through just before closing time today.

Tick tock……..

https://investmentpolicy.unctad.org/investment-dispute-settlement/cases/1252/ascent-v-slovenia

But if the award is big enough, the other 10% would help fund the company’s other activities.

…just know 90% of the award is headed straight to holders of preference shares so that portion is not benefiting the company.

The news on the award vs Slovenia. The company has a claim of 656m Euro vs Slovenia and there's an update coming on the 30th regarding their case. they have multibag potential depending on the outcome of that. The current helium/oil and gas/brine mineral assets pretty much cover the current small cap as well as the small award they're awaiting payments on imo. The case Vs Slovenia is the big one and why I took a punt here, hopefully for a quick win.

Regards,

Ed.

You have piqued my interest . What is around the corner? Are you looking for massive rise in tge SP in the coming months?

What news is coming?

Yes buys at what price 30% above yesterday’s close. Market makers all know what’s around the corner.

Over 1.5m volume today and someone picked up a decent tranche. The clock is ticking down and I expect to see some more speculative interest in the days ahead.

Market makers have temporarily killed it by widening the spread, but there’s no smoke without fire.

Over 2 million shares bought in the first few minutes.

🫣 https://www.lse.co.uk/ShareChat.html?ShareTicker=HALO&share=Halo-Minerals - Wowsers!

Will have to disagree to agree. We believe that Helium prices have risen considerably. Forget the Slovenian situation, that is out of everyone's hands! The BOD are apparently on reduced wages. The share price hasn't reacted in one way or another! Most long term holders are looking for 20p plus to get their investment back! Whoever oversees share price performance needs a good shake! This Board are high!y paid but offer nothing new except picking up their wages! I have contacted them directly & would urge others to do the same! Bonus awards...for what exactly!

Andrew Denman is retained regarding Slovenia...what has been his contribution for years!! It's embarrassing & the share price speaks for itself!!

In fairness, the last few pieces of real news have been excellent but i think we all know what the market needs to see to re-evaluate ast.

They have won on both counts but how much and when do they see the dosh is another matter.

Its moved on from binary now imo.....more than a good chance of a fine result here🤞

Yet another RNS informing investors that the Management have been rewarded again!!!

How about informing investors about the progress AST are making with their helium business??!! A handsomely paid BOD should hang their heads in shame at share price performance!

I understand that the Slovenian episode is out of their control but what on earth are they doing each day with their time??!! Why would any potential investor get involved here!!!

Domestic Slovenia Claim - Against: Geoenergo (insolvency estate)

AST already awarded approx €7.8M plus interest.

This is legally awarded, but not yet recovered and depends on the insolvency process.

I been in here 12 years + and would be more than happy to get back my original investment

You'll find that its more like 90% going to longer term holders here. The cap here is around £3m, likely mainly for the oil/helium/brine assets. Claim is for 656m Euro. Even after costs and the ring-fenced amount the award could still be material given the small cap here. We'll all find out on the 30th of April.

Regards,

Ed.

41% of the funds received (after costs) are already ring fenced for holders since the 10th Feb.

All that glitters is not gold.

Remember the “within 250 days” is a preference not a deadline. The window for a claim this size could be 240-270 days based on previous rulings.

ICSID timelines of 240–270 days is typical guidance.

NOT a fixed deadline. NOT legally binding

From real ICSID / arbitration behaviour, rulings often come, slightly early, on time or weeks late.

Unbelievable the lack of discussion on this forum & the share price considering demand for helium is rocketing & we are led to believe this is a monumental week for investors!l At least the BOD have confirmed their share options!!!

They should hang their heads in shame! As ever reactive rather than proactive!!

They need a rocket alright!!!

Spread has now changed to 0.3 to 0.45 and this has produced a 35k buy.

No trades so far, but spread is ridiculous at 0.3 to 0.5.

Strategic Rationale & Investment Thesis

• Strategic entry into a known lithium-potassium basin in the USA. Utah is a stable and supportive jurisdiction for mining investment.

• Leverages existing well infrastructure and sub-surface data to accelerate exploration and lower the cost of rapidly advancing technical evaluation.

• Direct lithium extraction (DLE) validated on Paradox brines*, enabling processing of lower-grade lithium brines through selective recovery.

• NMT has deep lithium brine processing expertise built through its 70% owned patented ELi Process, having the potential to deliver lower-costs from purification and electrolysis of lithium chloride recovered from DLE.

• Tenure serviced by existing HV powerlines with industrial power tariffs of 2.7- 6 US c/kWh (Rocky Mountain Power – Electric Service Schedule No.8 July 2025) and the Lisbon Natural Gas Plant majority owned by AHL.

• Aligns with the US critical minerals strategy, with potential eligibility for

FAST-41 coordinated federal permitting and access to selected federal funding programs (including DOE Clean Energy Financing Program, DOD Defence Production Act, USDA Fertilizer Production Expansion Program).

Interesting project

https://www.neometals.com.au/investors-media/asx-announcements/

RNS out this morning, not the one we are waiting for but it’s good

It certainly is an interesting use of old oil wells that are shut-in. It could provide a steady income stream from wells that are otherwise of little use to the company. Hopefully it will prove commercial as its certainly a good idea. Clearly Neometals benefits too as they only need to test the wells that are already there. So looks like a win win at this stage.

Regards,

Ed.

Wow.....look at that.

Perfect timing k20, your finger sure is on the pulse here👏👏

Todays news more than justifies the current market cap and with money owed through the courts and the potential ect win.....somehow ast are now in a good position moving forward.

You could always check Neometals Ltd (ASX:Announcements) if you want.

13/01/2026

Well Access Option Extension

Neometals Ltd (“Neometals” or “the Company”) advises that, further to its announcement dated

26 November 2025 regarding the exclusivity and option agreement (“Option Agreement”) entered

with US partner Omaha Value, Inc (“Omaha”) regarding access and use rights to inactive oil and

gas wells, leases and geological data in Utah held by American Helium LLC (“AHL”) and Ascent

Resources plc (“Ascent”), the parties have agreed to extend the current exclusivity period by a

further 60 days.

In consideration for the extension, Neometals’ wholly owned subsidiary, Neometals Energy Pty

Ltd (“Neometals Energy”) and Omaha will pay a US$50,000 Option Extension Fee (“Extension

Fee”), to be set off against future payments due upon Option exercise. The Extension Fee will be

paid within a prescribed number of days following receipt of countersigned confirmation of the

extension from AHL and Ascent.

All other terms and conditions of the Option Agreement remain unchanged.

The variation reflects the parties’ mutual commitment to progressing due diligence and

commercialisation opportunities in the Paradox Basin. The Company will update the market as

further material developments occur.

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

I'm beginning to actually wonder if there is a business to report on here!!! As per usual, the only updates appear to be rewarding the Directors.

The legal case appears to be drawn out (like everything else!) and I'm hoping that the decision is worth waiting for!!!

Very disappointed in the Management here for the lack of progress and updates! Some months ago I contacted them directly to tell them so. The CEO did have the decency to respond directly advising that the Management had taken a salary reduction but to be honest nothing has changed.

The share price performance appears to be influenced only by the Slovenian situation when we are actually led to believe that Helium was in great demand!!

I hope that somebody in the leadership team sees this post and makes it a priority to advise investors what they are actually doing every day!!!!

Well more confetti distributed - I guess they must think there'll be some value to all this paper eventually - lol

Another 30,000,000 share options granted to the directors following 50,000,000 granted on the 26th January about six weeks ago.…No RNS issued for today’s announcement which is extremely irregular.

This has been a worthless company for a decade and more.

If investors have put their hard earned in here they clearly have not undertaken any due diligence or quality research. They are gambling on an unlikely pay out from Slovenia which, if it ever happens, will be light years away.

One year ago I posted the following. Those new to this BB should be aware but I would strongly recommend they undertake their own research.

“ It’s confusing here. I believe Four Corners Helium own the licences for gas/ Helium fields some miles from the gas plant. GNG Partners which appear to have one employee (Jason Setch) bought the gas treatment plant from Paradox Resources who had gone into administration and filed for bankruptcy. GNG gave a convertible 1 million dollar loan note for Ascents support for the purchase. The plant manager works for GNG Ventures not GNG Partners.

I think traceability is a bit murky as I cannot find out if the plant helium processing is operational or not and a quick look at the US Environmental Agency page, has no emissions data information since 2021.

Ascent informed the market that the helium gas processing would start in December 2024.

I don’t believe it has as I cannot find any information around that and if it had have happened, it would have required an RNS.

If you are thinking of investing here, I would advise that your due diligence is undertaken thoroughly as I only skimmed the surface before I gave up looking for answers that don’t appear to be out there.

This is only my view. Others, more skilled with internet searching, might take a different view.”

Isn’t there some other claim for about 500 million euros?

News could land any day now. I’m expecting minimum 500% rise for starters currently strong buy.

I wonder if the arbitration was waiting to see what the outcome of the court judgement would be before finalising details?

Hopefully the decks are cleared now and they can sort out any loose ends.