Sovereign Metals Limited Appointment of Joint Corporate Broker (6520C)
February 24 2022 - 2:01AM
UK Regulatory
TIDMSVML
RNS Number : 6520C
Sovereign Metals Limited
24 February 2022
SOVEREIGN METALS LIMITED
NEWS RELEASE | 24 FEBRUARY 2022
APPOINTMENT OF JOINT CORPORATE BROKER
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (Company or
Sovereign ) is pleased to to announce the appointment of Joh.
Berenberg, Gossler & Co KG (Berenberg) as the Company's Joint
Corporate Broker, for purposes of the Company's AIM listing, with
immediate effect .
Berenberg, who are based in London, will work alongside the
Company's broker Optiva Securities to further assist in raising
Sovereign's profile in UK and European capital markets.
Sovereign's UK-based Chairman Ben Stoikovich commented : "We
look forward to working with Berenberg as Sovereign continues to
gain recognition amongst both retail and institutional UK and
European investors as a world-class critical raw material company
with sustainability and ESG at its core"
ENQUIRIES
Dr Julian Stephens (Perth) Sam Cordin (Perth) Sapan Ghai (London)
Managing Director +61(8) 9322 6322 +44 207 478 3900
+61(8) 9322 6322
Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson +44 20 3440 6800
Joint Brokers
Berenberg +44 20 3207 7800
Matthew Armitt
Jennifer Lee
Varun Talwar
Optiva Securities +44 20 3137 1902
Daniel Ingrams
Mariela Jaho
Christian Dennis
About Sovereign Metals
Sovereign Metals Limited (ASX:SVM & AIM:SVML) is an ASX and
AIM-listed company focused on the exploration and development of
its Kasiya rutile project in Malawi.
Kasiya is a strategic and globally significant natural rutile
deposit with substantial additional resource growth expected.
Kasiya's Mineral Resource Estimate is 605Mt at 0.98% rutile (0.7%
cut-off, indicated + inferred).
Natural rutile is the purest, highest-grade natural form of
titanium dioxide (TiO2) and is the preferred feedstock in
manufacturing titanium pigment and producing titanium metal.
Results of life cycle studies show that Sovereign's natural
rutile could potentially eliminate significant global titanium
industry CO2 emissions by displacing and substantially reducing the
use of carbon-intensive upgraded alternatives.
The rutile market fundamentals are robust with current and
forecast pricing remaining very strong. In 2021, the market has
rebounded strongly with pigment plant utilisation rates returning
to pre-pandemic levels. Major producers have noted that very strong
demand in the welding market is outstripping supply.
Natural rutile supply is tight with limited new projects coming
online in the short to medium term. Extreme supply-side tightness
is expected and will be exacerbated by production suspensions
recently announced by major high-grade producers. A resurgence in
demand for titanium pigment and from the welding sector combined
with concurrent supply shortages has led the CIF China spot prices
sharply upwards to over US$2,000 per tonne.
The Company completed an initial Scoping Study in December 2021
which confirms Kasiya as a globally significant natural rutile
project. It is the largest undeveloped rutile deposit in the world
and therefore is highly strategic in a market characterised by
extreme supply deficit. The initial Scoping Study developed the
concept for a multi-decade mine providing a stable supply of a
highly sought-after rutile (TiO(2) ) and graphite whilst
contributing significantly to the economy of Malawi.
Forward Looking Statement
This release may include forward-looking statements, which may
be identified by words such as "expects", "anticipates",
"believes", "projects", "plans", and similar expressions. These
forward-looking statements are based on Sovereign's expectations
and beliefs concerning future events. Forward looking statements
are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of Sovereign, which could
cause actual results to differ materially from such statements.
There can be no assurance that forward-looking statements will
prove to be correct. Sovereign makes no undertaking to subsequently
update or revise the forward-looking statements made in this
release, to reflect the circumstances or events after the date of
that release.
Competent Persons Statement
The information in this announcement that relates to Sovereign's
Scoping Study at Kasiya is extracted from the announcement dated 16
December 2021 which is available to view at Sovereign's website at
www.sovereignmetals.com.au. Sovereign confirms that a) it is not
aware of any new information or data that materially affects the
information included in the ASX announcement; b) all material
assumptions and technical parameters underpinning the Production
Target, and related forecast financial information derived from the
Production Target included in the announcement continue to apply
and have not materially changed;; and c) the form and context in
which the relevant Competent Persons' findings are presented in
this report have not been materially changed from the
announcement.
The information in this announcement that relates to the Mineral
Resource Estimate is extracted from the announcement dated 16
December 2021. The announcement is available to view on
www.sovereignmetals.com.au. Sovereign confirms that a) it is not
aware of any new information or data that materially affects the
information included in the announcement; b) all material
assumptions included in the announcement continue to apply and have
not materially changed; and c) the form and context in which the
relevant Competent Persons' findings are presented in this report
have not been materially changed from the announcement.
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END
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