REG - Sovereign Metals Ltd - ASX Price Query

Sovereign MetalsAnnouncement

03/06/2024 07:00

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RNS Number : 8113Q  Sovereign Metals Limited  03 June 2024

NEWS RELEASE I 3 JUNE 2024

ASX PRICE QUERY

Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign)
advises that the below response was provided to the Australian Securities
Exchange (ASX) following the receipt of a query from ASX regarding an increase
in Sovereign's share price and in the volume of trading securities.

To view the announcement in full, please refer to:

https://www.investi.com.au/api/announcements/svm/84faf4e8-a54.pdf
(https://www.investi.com.au/api/announcements/svm/84faf4e8-a54.pdf) .

 

3 June 2024

Sam Dorland

Australia Securities Exchange

Central Park, 152-158 St Georges terrace

Perth WA 6000

 

By email: sam.dorland@asx.com.au

 

Dear Sam,

 

Response to Price Query

 

In response to your correspondence dated 3 June 2024 regarding an increase in
the Sovereign Metals Limited's (Company or Sovereign) share price and in the
volume of trading securities, the Company's response is as follows:

 

1.       No, the Company is not aware of any information that has not been
announced which, if known, could be an explanation for recent trading in the
securities of the Company.

2.       Not applicable.

3.       Sovereign notes recent Company announcements regarding
developments at the Kasiya Rutile Project in Malawi (Kasiya) including:

(a)  Commencement of pilot mining and land rehabilitation program at Kasiya
as part of the ongoing optimisation study (refer to ASX announcement dated 22
May 2024);

(b)  Downstream testwork at Kasiya has demonstrated high quality graphite for
lithium-ion batteries (refer to ASX announcement dated 15 May 2024);

(c)  Graphite circuit feed prepared at the Company's Lilongwe laboratory
facility produced high quality graphite concentrates for us in pilot-scale
flotation and cleaning (refer to ASX announcement dated 8 May 2024); and

(d)  The increase of graphite bulk sample scale for Kasiya with the
installation of an industrial scale spiral concentrator at the Company's
Lilongwe laboratory facility (refer to ASX announcement dated 1 May 2024).

4.       The Company confirms that it is in compliance with the listing
rules, in particular, Listing Rule 3.1.

5.       The Company confirms that its responses to the questions above
have been authorised and approved in accordance with its published continuous
disclosure policy or otherwise by its board or an officer of the Company with
delegated authority from the board to respond to ASX on disclosure matters.

Classification 3.1 Additional regulated information required to be disclosed
under the laws of a Member State

 

ENQUIRIES

 Dylan Browne

 Company Secretary

 +61(8) 9322 6322

 

 Nominated Adviser on AIM and Joint Broker
 SP Angel Corporate Finance LLP             +44 20 3470 0470
 Ewan Leggat

 Charlie Bouverat

 Joint Brokers
 Stifel                                     +44 20 7710 7600
 Varun Talwar
 Ashton Clanfield

 Berenberg                                  +44 20 3207 7800
 Matthew Armitt
 Jennifer Lee

 Buchanan                                   + 44 20 7466 5000

 

 

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