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

Sovereign Metals Timeline

Related Articles

gold_nuggets,_sized_5823aab086374.png
November 10 2016
Shares in Exterra are trading up 7 times year to date, currently priced at $0.07.
latin-resources-Chris-Gale-757.jpg
January 25 2017
Samples grading up to 4.46% lithium oxide were taken from drill targets.
legend-mining_mark-wilson-presenting-Syd-Mar-2017-757.jpg
March 17 2017
Mark Wilson discussed with investors exploration on one of Australia's host post codes, the Fraser Range of Western Australia, with partner Creasy Group.

© 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