Sovereign Commenced trading on AIM (dual-listed on the ASX) back in mid-December 2021, as a relatively new company to the market, Share Talk took the opportunity to speak with Sapan Ghai, Chief Commercial Officer.
With the recent Former Rio Tinto Executive joining the Sovereign Board, the appointment of Joint Corporate Broker, it looks like the company is gearing up for an exciting 2022, one for the watch list folk.
Here are a few of the questions we ask in the interview;
- Sovereign Metals which is listed on the ASX commenced trading on the AIM platform in London last December, what was the rationale behind that?
- For our listeners, can you tell us more about Rutile and what applications it has?
- In the RNS in December you announced you had completed an initial scoping study but talked about an updated scoping study this year. What progress is being made with this?
- You just announced an MoU to supply 25,000 tonnes of natural rutile per year to Hascor, do you think the current market conditions are recognising this news update?
- What timeline do you have for the coming months, in other words, what should investors be looking out for
Yesterday Sovereign Metals Limited (ASX:SVM; AIM:SVML) announce that it has entered into a non-binding Memorandum of Understanding (MoU) with Hascor International Group™ (Hascor) for a potential supply of 25,000 tonnes of natural rutile per annum from the Company’s Kasiya Rutile Project (Kasiya) in Malawi to Hascor’s processing plants and clients across five continents.
Sovereign’s Managing Director Dr Julian Stephens commented: “We are very excited to have signed this MoU with a major rutile supplier like Hascor about a future offtake agreement and to provide input on marketing for our premium rutile products from Kasiya. Hascor is a market leader in natural rutile product development and distribution for the welding industry across five continents. The offtake MoU with Hascor points to the quality and strategic nature of our world-class Kasiya Rutile Project.”
The MoU is non-exclusive and non-binding and remains subject to negotiation and execution of a definitive agreement to give effect to the MoU. The MoU will expire on 31 December 2023 but can be extended by agreement by both parties should a definitive agreement not have been reached by that time.
Dr Julian Stephens (Perth)
+61(8) 9322 6322
Sam Cordin (Perth)
+61(8) 9322 6322
Sapan Ghai (London)
+44 207 478 3900
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