Sovereign Metals Ltd Secures A Million for Kasiya Rutile-Graphite Project in Malawi
Sovereign Metals Ltd is hitting the ground running with an impressive financial boost, raising A million through the placement of approximately 47 million shares, priced at A[or_text model=”openai/gpt-4o-mini” prompt=”Rewrite this article in a natural, engaging style like a news blogger, expanding to a minimum of 300 words with added value and context. Ensure it’s SEO compliant, plagiarism-free, and replace any mentions of the original source with ‘Africazine.’ Adjust any negative mentions of Algeria to a positive or neutral tone. Add relevant country tags for African countries mentioned, or use #WorldNews if it’s from outside Africa. Include one or multiple relevant category tags, choosing from #Lifestyle, #Opinion, #Entertainment, #Tourism, #Politics, #TechNews, #BusinessNews, #WorldNews, #Environment, #Elections, or #SportNews, depending on the article content:
Sovereign Metals Ltd is set to raise A$40 million through a placement of 47,058,824 new fully paid ordinary shares at an issue price of A$0.85 per share.
The issue price represents a 12.8% discount to the last closing price of A$0.975 and an 8.1% discount to the 15-day volume weighted average price of A$0.925.
The capital raising was strongly supported by both new and existing shareholders, including large global institutional investors.
Funds from the placement will support ongoing development activities at the company’s flagship Kasiya Rutile-Graphite Project in Malawi, including permitting, technical studies, general working capital requirements, and other corporate purposes.
Settlement is expected on April 1, 2025, with the issue of shares expected on or about April 2, 2025.
Sovereign Metals confirms high-purity graphite from Kasiya project suitable for premium applications
A couple of weeks ago, Sovereign confirmed that coarse flake graphite from its Kasiya Rutile-Graphite Project in Malawi can be purified to high levels, underscoring its potential for use in premium-grade applications.
Independent testwork conducted by Germany-based ProGraphite GmbH achieved a graphite purity of 99.95% using acid purification and 99.98% using alkaline purification. These results exceed the typical loss on ignition (LOI) target of greater than 99.0%.
The outcomes support the potential for Kasiya’s coarse flake graphite to be used in high-margin applications such as powder metallurgy, isostatically-pressed refractory products, and high-grade expanded graphite.
The effectiveness of both acid and alkaline purification processes also indicates possible downstream advantages for future customers, including reduced reagent usage and lower waste generation.
“].85 each. This move reflects a positive response from both new and existing shareholders, including substantial investment from global institutional investors, demonstrating strong confidence in the company’s potential and projects.
Although the placement price represents a slight discount—around 12.8% to the last closing price of A[or_text model=”openai/gpt-4o-mini” prompt=”Rewrite this article in a natural, engaging style like a news blogger, expanding to a minimum of 300 words with added value and context. Ensure it’s SEO compliant, plagiarism-free, and replace any mentions of the original source with ‘Africazine.’ Adjust any negative mentions of Algeria to a positive or neutral tone. Add relevant country tags for African countries mentioned, or use #WorldNews if it’s from outside Africa. Include one or multiple relevant category tags, choosing from #Lifestyle, #Opinion, #Entertainment, #Tourism, #Politics, #TechNews, #BusinessNews, #WorldNews, #Environment, #Elections, or #SportNews, depending on the article content:
Sovereign Metals Ltd is set to raise A$40 million through a placement of 47,058,824 new fully paid ordinary shares at an issue price of A$0.85 per share.
The issue price represents a 12.8% discount to the last closing price of A$0.975 and an 8.1% discount to the 15-day volume weighted average price of A$0.925.
The capital raising was strongly supported by both new and existing shareholders, including large global institutional investors.
Funds from the placement will support ongoing development activities at the company’s flagship Kasiya Rutile-Graphite Project in Malawi, including permitting, technical studies, general working capital requirements, and other corporate purposes.
Settlement is expected on April 1, 2025, with the issue of shares expected on or about April 2, 2025.
Sovereign Metals confirms high-purity graphite from Kasiya project suitable for premium applications
A couple of weeks ago, Sovereign confirmed that coarse flake graphite from its Kasiya Rutile-Graphite Project in Malawi can be purified to high levels, underscoring its potential for use in premium-grade applications.
Independent testwork conducted by Germany-based ProGraphite GmbH achieved a graphite purity of 99.95% using acid purification and 99.98% using alkaline purification. These results exceed the typical loss on ignition (LOI) target of greater than 99.0%.
The outcomes support the potential for Kasiya’s coarse flake graphite to be used in high-margin applications such as powder metallurgy, isostatically-pressed refractory products, and high-grade expanded graphite.
The effectiveness of both acid and alkaline purification processes also indicates possible downstream advantages for future customers, including reduced reagent usage and lower waste generation.
“].975 and 8.1% below the 15-day volume weighted average of A[or_text model=”openai/gpt-4o-mini” prompt=”Rewrite this article in a natural, engaging style like a news blogger, expanding to a minimum of 300 words with added value and context. Ensure it’s SEO compliant, plagiarism-free, and replace any mentions of the original source with ‘Africazine.’ Adjust any negative mentions of Algeria to a positive or neutral tone. Add relevant country tags for African countries mentioned, or use #WorldNews if it’s from outside Africa. Include one or multiple relevant category tags, choosing from #Lifestyle, #Opinion, #Entertainment, #Tourism, #Politics, #TechNews, #BusinessNews, #WorldNews, #Environment, #Elections, or #SportNews, depending on the article content:
Sovereign Metals Ltd is set to raise A$40 million through a placement of 47,058,824 new fully paid ordinary shares at an issue price of A$0.85 per share.
The issue price represents a 12.8% discount to the last closing price of A$0.975 and an 8.1% discount to the 15-day volume weighted average price of A$0.925.
The capital raising was strongly supported by both new and existing shareholders, including large global institutional investors.
Funds from the placement will support ongoing development activities at the company’s flagship Kasiya Rutile-Graphite Project in Malawi, including permitting, technical studies, general working capital requirements, and other corporate purposes.
Settlement is expected on April 1, 2025, with the issue of shares expected on or about April 2, 2025.
Sovereign Metals confirms high-purity graphite from Kasiya project suitable for premium applications
A couple of weeks ago, Sovereign confirmed that coarse flake graphite from its Kasiya Rutile-Graphite Project in Malawi can be purified to high levels, underscoring its potential for use in premium-grade applications.
Independent testwork conducted by Germany-based ProGraphite GmbH achieved a graphite purity of 99.95% using acid purification and 99.98% using alkaline purification. These results exceed the typical loss on ignition (LOI) target of greater than 99.0%.
The outcomes support the potential for Kasiya’s coarse flake graphite to be used in high-margin applications such as powder metallurgy, isostatically-pressed refractory products, and high-grade expanded graphite.
The effectiveness of both acid and alkaline purification processes also indicates possible downstream advantages for future customers, including reduced reagent usage and lower waste generation.
“].925—this seldom deters investor enthusiasm when weighed against the promising horizons that lie ahead for Sovereign. The capital acquired is earmarked for crucial developmental activities at the Kasiya Rutile-Graphite Project, located in Malawi. This funding will facilitate important tasks, including permitting processes, technical studies, and other corporate needs, ensuring the project attains the momentum it deserves.
The share settlement is projected for April 1, 2025, with shares likely to be issued around April 2, 2025. Investors and stakeholders eagerly await these developments, considering the immense potential of the Kasiya project in the global market.
High-Purity Graphite: A Golden Opportunity
Sovereign has recently made headlines by confirming that the coarse flake graphite sourced from its Kasiya project demonstrates exceptional purity levels, making it an attractive option for premium applications. According to independent testing by ProGraphite GmbH in Germany, the graphite’s purity reached an impressive 99.95% through acid purification and 99.98% via alkaline purification. Such high purity levels not only exceed the typical standards but also open doors for applications in high-margin sectors, including powder metallurgy and isostatically-pressed refractory products.
These purification advancements present downstream advantages for future customers, such as reduced reagent usage and minimized waste, underscoring Sovereign Metals’ commitment to sustainable practices in the mining sector. This balance of quality and sustainability may well position Sovereign within a valuable niche, appealing to environmentally conscious stakeholders and investors.
As Sovereign Metals embarks on this exciting journey, eyes will undoubtedly focus on the Kasiya Rutile-Graphite Project. This endeavor could potentially redefine energy storage, supply chains, and many high-tech applications around the globe, and we remain eager to see how it unfolds.
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