Sovereign Metals Ltd (ASX: SVM, OTC: SVMLF, AIM: SVML) has secured an additional A$690,360 investment from Rio Tinto following the mining giant’s exercise of its unlisted options to acquire more than 1.29 million shares in SVM.
This latest investment increases Rio Tinto’s stake in the company to 19.9%, just two months after its initial $18.5 million investment, which also included a commitment to provide technical and marketing support for the development of the Kasiya natural rutile and graphite deposit.
Sovereign Metals recently tested a sample of high-quality coated spherical purified graphite (CSPG) produced from Kasiya natural graphite feedstock, achieving “outstanding” results. The performance characteristics of this material are reported to be “comparable to the highest quality natural graphite battery materials from leading Chinese anode manufacturers.”
Electrochemical testing demonstrated very high first-cycle efficiencies ranging from 94.2% to 95.8%, impressive initial discharge capabilities exceeding 360mAh/g, specific surface areas (BET) of at least 2.0m²/g, and tap densities between 1.11 and 1.18g/cm³.
These features contribute to longer battery life, reduced lithium loss during the charging cycle, and enhanced electrical storage capacity, highlighting the superior quality of the feedstock.
Kasiya currently has a mineral resource estimate of 1.8 billion tonnes, with 1.10% rutile amounting to 18 million tonnes and 1.32% graphite totaling 23.4 million tonnes.
Sovereign Metals managing director Frank Eagar emphasized that “Combining these excellent results with one of the largest graphite resources globally, industry-low operating costs, and minimal global warming potential, Kasiya offers significant advantages over its graphite peers.”
