SVM closer to PFS with completion of infill drilling at Malingunde
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. FinFeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.
Sovereign Metals Limited (ASX:SVM) informed the market this morning that the aircore drilling campaign at its Malingunde saprolite-hosted graphite project in Malawi has now concluded.
The drilling campaign, designed to rapidly advance the low-cost project towards a Pre-Feasibility Study, covered 5000 meters in total. An aircore rig used in the drilling has now been moved to test additional saprolite-hosted graphite targets within relative proximity to the project site.
The map below shows the location of additional targets in relation to the Malingunde project:
Drilling is now underway at targets Malingunde South Extension, approximately 2km along strike to the SE of the main Malingunde deposits, and the Thete and Chiziro Prospects, both located approximately 40km to the east-south-east of Malingunde.
A recent Scoping Study undertaken by SVM outlined a total production target of 8.0Mt @ 10.0% TGC over an initial 17-year mine life. The Malingunde project is the world’s largest reported saprolite-hosted graphite deposit with a total resource estimate of 28.8Mt @ 7.1% TGC (80% Indicated, 20% Inferred).
However it should be noted that SVM is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.
The below images show the aircore drill rig in operation at the project, and the drill samples used for logging.
Along with testing a number of nearby prospects, SVM’s key outcome for the resource drilling program was to further define and upgrade the resource estimate for use in the upcoming Pre-feasibility Study mine plan.
The company expects to release infill and regional drilling assay results in Q1 2018. The company also has a further rig drilling a hydrogeological borehole which will provide essential data for defining various requirements for the PFS design and mine plan.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.