Member Info for cherryburn

I think that quite a few shareholders have been waiting for important news such as this. We now need South Korea and other countries to not only validate the products but also to move towards long term offtake agreements so that the Company can stand alone and move into production.Time to buy more now.

And now we see that Sprott sold 1,369,385 shares in one block on 22 APRIL . Directors would have been well aware of this and hopefully we can await positive news.

Probably not much higher than present as the real value will surface once we know how the Mining Licence is progressing and which other countries have expressed interest in offtake agreements other than RIO. I will be topping up at these levels though.

Major Tom...as I understand it , a mining licence still needs to be negotiated and this could take some time. Hopefully there are enough offtakers out there who will come knocking at the door soon. The past three weeks or so has been very frustrating and it feels that there is an overhang in the market of maybe a few million shares. Interesting that today there were 2 separate trades of 1 million shares , reported after the market close naturally ! Perhaps this overhang will clear if we have an upbeat June Quarterly report with meaningful content but I am not holding out much hope.

Spuddy....RIO are playing a blinder , not having participated in the latest placing. At least the shares have stabilised around the 31/32p level. I hardly think that RIO's first move will be much higher than today unless the Company does some serious marketing (have a look at how BGD operates) . Shareholders need to know that serious offtake agreements with companies in Japan, South Korea and Europe are progressing and that samples are being tested right now. The June Quarterly needs to be very positive if the share price is to rise to even 35p IMHO. A bidding battle might materialise at some point and I also believe that the final bid might well be in the A$1.25 to A$1.50 range.

When there seems to be little interest in the share after the Sapan Ghai interview on the subject of power in Malawi , why would RIO have to pay multiples of today's price ?

Producing SC6 ......not a snowball in hell's chance by end of August. Think more SC4 on a consistent basis .

BodRuncie.....It looks to me that there might be a significant block of shares being worked by the MM's. Yesterday we had a single trade of 1 6 million shares at 32p and today the total volume looks like circa 463, 000. Let this seller finish and we should see an uptick. At these levels I will be adding to my position . Happy hunting.

Hasiba......"According to GR" I would rather hear what independent consultants say and anything that comes out of GR's mouth has to be taken with a large dose of salt.

Acker.. that price of $700 is for SC6 but there must be serious doubts at this stage that PREM can produce at this grade consistently. What price SC4 ?

Paul...like you , looking to top up at these levels but could go a touch lower. Interesting that Sapan Ghai will be representing Sovereign at the London 121 on Monday and Tuesday next week. I hope the relationship with RIO is still friendly in view of the Company going ahead with the recent fundraising despite RIO stating that in its view, the Company had sufficient funds to complete the DFS.

And we now know that RIO has an option to market only 40% of the product stream leaving the door wide open for the rest of the world including Europe and the Far East. Obviously some interesting talks must have taken place between RIO top brass and Sovereign directors about the recenr placing as RIO deemed that there was enough in the kitty to complete the DFS !

Paul.....thanks for that. I hold quite a few shares in RIO and have done so for over a decade. I am not sure how they are perceived in Mozambique (write off of circa $4 BILLION on coal project in 2014) or Malawi. Hopefully the upco0ming Qtrly from SVM might give us some guidance for the next few months. I would like to see mention of third parties wanting samples of our products.

Paul....are you sure that RIO still holds just under 20% ? That assumes that they came in on the recent placing to maintain that position. Rick Rule hints at the fact that a Chinese entity would be very much interested in the Kasiya project so not a shoe in for RIO at the end of the day.

Although market is closed in Australia today , it appears that somebody has been happily mopping up shares well below the placement price with a bit of help from the MM's in London. The Rick Rule view on Sovereign is well worth listening to.

As part of my retirement plan , a fair chunk of my ISA is in RIO and LGEN. Tax free ISA income at 21p each year is a no brainer unless RR from Accounts decides otherwise.

Also good to see today that somebody woke up to the potential here and splashed out a mere £100k on 280k shares. Bring on Q4 and then the fun will really begin. Happy Easter.

Great news and demonstrates that matters are moving forward at pace towards DFS this year. Once again we see a late reported trade from yesterday for 60,000 shares which makes no sense except to create a false market in the shares IMHO

Somewhat strange reporting of trades here. After hours yesterday 110,000 shares reported at 32.5p as at 8.26 am on 10 APRIL as well as 100,000 shares at 32.45p as at 8.46 am on 10 APRIL. Bring on the $1 Billion valuation from whoever and if it is other than RIO all the better IMHO.

Lucain.....just under 45p for the late reported trade at 16.22. I am not at all worried but would like to see a new one or two mining funds come along for the ride Good that we already have Sprott on board.