1st 30 tonnes bulk sample shipped
- From Kasiya Rutile-Graphite Project in Malawi
- To Paterson & Cooke Cape Town, South Africa
- Representative of the ore to be mined over the initial 10 years of production
Lab Testing at Peterson & Cooke
- P&C is a global leader in mining systems, tailings and waste handling
- Advanced bulk laboratory scale test work to commence
- Data to optimise technical elements of PFS including:
- Larger scale pumping
- Tailings characteristics
- Dewatering
Market Intelligence
- Commercialising the World’s largest rutile resource
- PFS post tax NPV8 of $1.6Bn
- Rio Tinto Strategic investor at 15%
- Strong balance sheet with Cash & Equiv. of $39.4m
- Technical committee comprises 3 SVML employees and 3 Rio Tinto employees
Managing Director Frank Eagar commented: “I must commend our geology and logistics teams who, in a very short space of time, successfully extracted and delivered this large representative sample from Kasiya to Paterson & Cooke. This represents a significant step in our ongoing project delivery. Importantly, it also demonstrates the effectiveness of the day-to-day technical involvement of our strategic investor, Rio Tinto, in assisting Sovereign with the Kasiya Project optimisation and bringing this tier one project closer to development.”
Sovereign Metals (SVML)