Sign up Australia
Proactive Investors - Run By Investors For Investors

Sovereign Metals granted trading halt, flake graphite potential

Sovereign Metals granted trading halt, flake graphite potential

Sovereign Metals (ASX:SVM) is heading to market with a capital raising.

Today the ASX has granted the company a trading halt, with its shares placed in pre-open.

Most recently the company completed an initial trench sampling program at the newly discovered Dedza Mountain East flake graphite prospect.

Importantly - substantial widths of high-grade flake graphite was intersected.

Results included: 14m at 10.8% TGC including 6m at 12.1% TGC; 18m at 9.5% TGC; 20m at 10.3% TGC including 10m at 11.3% TGC; and 14m at 9.3% TGC.

Adding interest, SVM's graphite interests in Malawi are located 500 kilometres west of Syrah Resources’ (ASX:SYR) massive Balama East Deposit, which is acknowledged as the largest known graphite deposit in the world.

Saprolite-hosted flake graphite mining operations are likely to have significant advantages over hard rock operations, including the potential for lower mining costs, reduced capex and opex, and may also result in the preservation of the coarser flake.

The halt will remain in place until the opening of trade on Wednesday 21st May 2014, or earlier if an announcement is made to the market.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Register here to be notified of future SVM Company articles
View full SVM profile View Profile

Sovereign Metals Ltd Timeline

Related Articles

Pioneer Resources: Access latest PPT from Proactive's CEO Sessions
June 19 2017
David Crook talked cash from caesium with investors.
picture of gold pour
June 30 2017
Ironridge thinks its portfolio, which sits on the prolific Wa-Lawra shear in the north-east of the country, has “company making potential”.
Peak Resources Ltd’s Darren Townsend talks rare earths in Proactive Q&A Sessions™
November 23 2016
Darren Townsend presented at Mines and Money Melbourne.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use