Sovereign Metals Limited ASX Trading Halt (1037O)
January 27 2023 - 4:18AM
UK Regulatory
TIDMSVML
RNS Number : 1037O
Sovereign Metals Limited
27 January 2023
SOVEREIGN METALS LIMITED
NEWS RELEASE I 27 JANUARY 2023
ASX TRADING HALT
Sovereign Metals Limited advises that the Company announced a
voluntary trading halt to the Company's securities on the
Australian Securities Exchange ("ASX"), pending an announcement
regarding a response to an ASX price query.
The Company requested that the trading halt remain until the
earlier of an announcement to the market regarding the above or the
opening of trade on ASX on 31 January 2023.
The Company also notes the recent share price rise in the
trading of its securities on AIM, and observes that on 26 January
2023, Mkango Resources Limited (AIM/TSX-V: MKA) ("Mkango")
announced the receipt of Environmental Social Health Impact
Assessment ("ESHIA") approval from the Malawi Environmental
Protection Authority ("MEPA") for their Songwe Hill Rare Earths
Project. The approval of the ESHIA is a significant milestone in
the Mining Development Agreement ("MDA") approvals process as it is
a fundamental requirement for obtaining a mining licence, and while
not directly associated with Sovereign's Kasiya Rutile Project
("Kasiya") in Malawi, could be perceived as an encouraging
regulatory sign.
The Company also notes that it intends to release infill
drilling results at Kasiya shortly, which would be incorporated
into the next iteration of Kasiya's Mineral Resource Estimate, and
the impending release of the Notice of Meeting for the demerger of
its standalone graphite projects (see RNS dated 7 December
2022).
ENQUIRIES
Dylan Browne
Company Secretary
+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
Optiva Securities +44 20 3137 1902
Daniel Ingram
Mariela Jaho
Christian Dennis
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END
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January 27, 2023 04:18 ET (09:18 GMT)
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