Company Overview and News
Local graphite companies Volt Resources and Sovereign Metals have announced plans to raise a combined $45.4 million from investors to fund development of their operations in Africa.
Sovereign Metals Limited (ASX:SVM) has secured commitments from institutional and sophisticated investors in Australia and the U.S. to raise $6.5 million at an issue price of $0.11 per share.
Sovereign Metals (ASX:SVM) has revealed that its Malingunde graphite concentrates have a strong potential to meet the specifications of major graphite end markets, including lithium-ion batteries.
Sovereign Metals’ (ASX:SVM) scoping study has revealed capital and operating costs at the very bottom of the graphite supply cost-curve for its Malingunde Graphite Project in Malawi.
Sovereign Metals (ASX:SVM) has reported the maiden resource for its Malingunde Graphite Project in Malawi, confirming it as the world’s largest reported soft saprolite-hosted graphite resource.
Sovereign Metals (ASX:SVM) has delivered high-purity concentrates averaging 98.6% graphite from the latest flotation testwork on the saprolite from its Malingunde flake graphite deposit in Malawi.
Sovereign Metals (ASX:SVM) has identified wide zones of saprolite-hosted graphite mineralisation from drilling at the Malingunde flake graphite deposit in Malawi.
The $127,033 worth of shares were purchased at an average price of $0.127 which is 130% higher than where shares started the year.
Assay results from the diamond drilling program include: - 15 metres at 19.7% TGC (total graphitic carbon) within a broader zone of 25 metres at 15.1% TGC; and - 12 metres at 17.1% TGC within a broader zone of 20 metres at 13.7% TGC. Overall, the assays confirm that high grades of saprolite continue to vertical depths of between 20 and 30 metres, in line with the near surface grades returned from previous hand auger drilling.
Mr Ian Middlemas Chairman Mr Benjamin Stoikovich Director and CEO Ms Carmel Daniele Non-Executive Director Mr Thomas Todd Non-Executive Director Mr Mark Pearce Non-Executive Director Mr Todd Hannigan Alternate Director
Unit 1C, Princes House 38 Jermyn Street London SW1Y 6DN United Kingdom Telephone: +44 207 478 3900
Sovereign Metals Ltd (ASX:SVM) is looking to focus on graphite exploration in Malawi, where the company is conducting a project acquisition in a major graphite province.
2017-12-11 - Wilton
2017-12-11 - Wilton
2017-12-03 - Wilton
2017-11-27 - Wilton