IN BRIEF: Sovereign Metals touts progress at Kasiya site in Malawi

Sovereign Metals Ltd - mining exploration and development company with assets in Malawi - Says ...

Alliance News 12 June, 2024 | 4:05PM
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Sovereign Metals Ltd - mining exploration and development company with assets in Malawi - Says that pilot site construction for its pilot mining and land rehabilitation programme at the Kasiya rutile-graphite project in Malawi is on schedule with groundworks underway. Adds that site equipment is currently moving 5,000 cubic metres of earth daily. Eight water extraction boreholes have been commissioned and are delivering water to the site, with the filling of the water storage pond to follow.

Managing Director Frank Eagar says: "This pilot phase is a step-change for Kasiya and demonstrates our ability to execute in Malawi. The early works are progressing as planned: on schedule and within budget. We are very pleased with the progress and specifically how the mobile fleet is performing in the soft saprolite ore, confirming our understanding of how simple mining, with no drilling or blasting required, will contribute to low operating costs."

Current stock price: 31.11 pence

12-month change: up 30%

By Holly Beveridge, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Sovereign Metals Ltd 34.50 GBX -3.63 -
Sovereign Metals Ltd 0.66 AUD 3.15 -

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