SVM completes placement to fund Malingunde technical studies
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
FinFeed presents this information for the use of readers in their decision to engage with this product. Please be aware that this is a very high-risk product. We stress that this article should only be used as one part of this decision-making process. You need to fully inform yourself of all factors and information relating to this product before engaging with it.
Sovereign Metals (ASX:SVM) today announced that it has completed the second tranche of its previously announced placement of 59.1 million shares at an issue price of $0.11 per share to raise A$6.5 million.
Proceeds from the placement will be used to expedite development of SVM’s 100 per cent owned Malingunde Flake Graphite Project in Malawi, enabling completion of all technical works associated with pre-feasibility and definitive feasibility studies.
The second tranche, comprising 20.1 million shares to institutional and sophisticated investors to raise gross proceeds of A$2.2 million, was completed today following shareholder approval at a general meeting held on 8 December.
SVM is hoping to tap into the considerable upside within the fast-growing energy storage sector, made possible by lithium-ion batteries.
Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.
Earlier this year, the Perth-based small-cap announced a maiden resource for Malingunde, confirming the project as the world’s largest reported soft saprolite-hosted graphite resource. The project has an Indicated and Inferred resource of 28.8 million tonnes at 7.1 per cent total graphitic carbon (TGC), including a high-grade component of 8.9 million tonnes at 9.9 per cent TGC.
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.
