Sign up Australia
Proactive Investors - Run By Investors For Investors

Sovereign Metals upgrades saprolite-hosted graphite resource in Malawi

Malingunde is the world’s largest reported soft saprolite-hosted graphite resource.
Malawi map
81% of the total resource is now classified as measured or indicated

Sovereign Metals Limited (ASX:SVM) has revealed an updated resource of 45.7 million tonnes at 7.2% TGC (total graphitic carbon) for its Malingunde Project in Malawi.

The updated resource provides the basis for a future low-capex and low-opex natural flake graphite operation focused on the soft saprolite (clay)-hosted component.

It is worth noting that Malingunde is the world’s largest reported soft saprolite-hosted graphite resource.

Reduced processing costs compared to hard rock deposits

The high-grade saprolite and saprock component of 14.5 million tonnes at 9.70% TGC occurs within 35 metres of the natural ground surface.

Sovereign’s upcoming pre-feasibility study (PFS) is focused on this high-grade saprolite and saprock component.

The company’s metallurgical test-work confirmed that the blended saprolite (85%) and saprock (15%) material does not require primary crushing or grinding, providing the potential for substantially reduced processing costs compared to hard rock deposits.

Inherent low-opex, high-margin potential

Importantly, all planned mining inventory is within 35 metres of surface and will be free-digging with very low strip ratios, with the potential for very low mining costs.

Sovereign’s managing director Dr Julian Stephens said: “The ability to process a blend of saprock along with the very soft saprolite allows a ~60% increase in high-grade, low-cost material that Sovereign will consider as part of the Malingunde PFS.

“With this exceptional resource base, the company will now progress rapid completion of the PFS, leveraging the project’s inherent low opex and high margin potential.”

View full SVM profile View Profile

Sovereign Metals Ltd Timeline

Related Articles

October 03 2018
The company has a 33% interest in highly-rated German potash assets, 7.3 million Lithium Australia NL (ASX:LIT) shares and prospective greensands tenure in Western Australia.
periodic table
September 10 2018
W Resources should be in production from La Parrilla next year
A manganese sample from the Bryah Basin Project
October 02 2018
Emerging new applications for manganese in batteries and energy storage are seen as exciting opportunities.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

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