ASX Trading Halt

RNS Number : 1037O

Sovereign Metals Limited

27 January 2023

 

SOVEREIGN METALS LIMITED

NEWS RELEASE I 27 JANUARY 2023

ASX TRADING HALT

Sovereign Metals Limited advises that the Company announced a voluntary trading halt to the Company's securities on the Australian Securities Exchange ("ASX"), pending an announcement regarding a response to an ASX price query.

The Company requested that the trading halt remain until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 31 January 2023.

The Company also notes the recent share price rise in the trading of its securities on AIM, and observes that on 26 January 2023, Mkango Resources Limited (AIM/TSX-V: MKA) ("Mkango") announced the receipt of Environmental Social Health Impact Assessment ("ESHIA") approval from the Malawi Environmental Protection Authority ("MEPA") for their Songwe Hill Rare Earths Project. The approval of the ESHIA is a significant milestone in the Mining Development Agreement ("MDA") approvals process as it is a fundamental requirement for obtaining a mining licence, and while not directly associated with Sovereign's Kasiya Rutile Project ("Kasiya") in Malawi, could be perceived as an encouraging regulatory sign.

The Company also notes that it intends to release infill drilling results at Kasiya shortly, which would be incorporated into the next iteration of Kasiya's Mineral Resource Estimate, and the impending release of the Notice of Meeting for the demerger of its standalone graphite projects (see RNS dated 7 December 2022).

ENQUIRIES

Dylan Browne Company Secretary [phone]

Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson	[phone]
Joint Brokers
Berenberg	[phone]
Matthew Armitt
Jennifer Lee
Optiva Securities	[phone]
Daniel Ingram
Mariela Jaho
Christian Dennis

 

END

 

 

MSCGCGDBRBDDGXR