Sovereign Metals sets focus on becoming largest producer of both rutile and graphite (ex-China) | ASX:SVM, OTC:SVMLF, AIM:SVML

Last updated: 18:25 21 Oct 2024 EDT, First published: 23:09 07 Feb 2024 EST

Sovereign Metals Ltd is focused on the exploration and development of its flagship Kasiya rutile-graphite project in Malawi along with its strategic investor, Rio Tinto.

Kasiya is the largest known rutile (titanium) deposit and the second-largest flake graphite resource globally.

Rio Tinto invested A$40.4 million in July 2023 for an initial 15% to advance the Kasiya definitive feasibility study (DFS)

Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has completed an extensive infill drilling program on schedule at the Kasiya Rutile-Graphite Project in Malawi to support ongoing technical studies.

The program was designed to upgrade Kasiya’s mineral resource estimate (MRE) and convert ore reserves from probable to proven category.

Kasiya is already the world’s largest rutile deposit and second-largest flake graphite deposit, with more than 66% of the current MRE in the indicated category.

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Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has taken part in the inaugural 2024 MINVEST/Minerals Security Partnership (MSP) Finance Meeting, held during the United Nations General Assembly in New York on September 23, 2024.

The event was co-organised by the US Department of State and the SAFE Center for Critical Minerals Strategy and was aimed at fostering the development of sustainable and diverse critical energy minerals supply chains.

Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has installed and commissioned an industrial-scale spiral concentrator plant at its expanded laboratory and testing facility in Lilongwe, Malawi.

This is expected to accelerate graphite offtake discussions with lithium-ion battery manufacturers and traditional graphite markets.

Brokerage Stifel has initiated coverage of Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) with a buy rating and a 65p price target.

Analysts cited the development of Sovereign’s Kasiya project in central Malawi as key to the company’s investment thesis.

“Within five years of its discovery, Kasiya has rapidly demonstrated potential to become a significant producer of two critical minerals: natural rutile, the purest form of titanium dioxide, and flake graphite.

Proactive’s Tylah Tully breaks down ‘Just the Facts’ of Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) latest ASX announcement.

It’s has installed and commissioned an industrial-scale spiral concentrator plant at its Lilongwe facility in Malawi. This development is part of the company’s Kasiya Rutile-Graphite Project, aimed at increasing graphite production and progressing discussions with both lithium-ion battery manufacturers and traditional graphite markets. The plant has a processing capacity of up to three tonnes per hour and produces large-scale graphite pre-concentrate for customer qualification.

This new facility is a crucial step towards Sovereign’s goal of becoming a leading global producer of rutile and flake graphite, serving sectors such as electric vehicles, energy storage systems, refractories, and foundries. Additionally, it will provide vital training for Malawian employees in preparation for full-scale operations. The plant employs a gravity-based process similar to that outlined in the company's 2023 pre-feasibility study, with ongoing optimisation overseen by the Sovereign-Rio Tinto Technical Committee.