Sovereign Metals Limited (ASX: SVM) Raises A$40 Mn in Placement for Kasiya Project Development

Wed 26 Mar 25, 02:27 AM | Team Kalkine

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Highlights

Sovereign Metals secures A$40 million through a strongly supported share placement.

Funds will support development activities at the Kasiya Rutile-Graphite Project in Malawi.

Placement includes global institutional investors and is set to settle on April 1, 2025.

Sovereign Metals Limited (ASX: SVM; AIM: SVML; OTCQX: SVMLF) has successfully secured A$40 million in gross proceeds through a placement of 47,058,824 new fully paid ordinary shares at an issue price of A$0.85 per share. The placement, which was met with strong support from both new and existing shareholders, including large global institutional investors, aims to fund key development activities for the company's Kasiya Rutile-Graphite Project (Kasiya) in Malawi.

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