Sovereign Metals receives strong validation of rutile project as Sprott lifts stake
The Toronto-based asset management firm has increased its holding to 10.41% through on-market purchases and placement participation. The substantial shareholder was a key player in the company’s $8 million placement.
Sovereign Metals Limited (ASX:SVM) (FRA:SVM) has received strong validation of its strategy focused on the Kasiya Rutile Project in Malawi with substantial shareholder Sprott Inc (TSE:SII) (NYSE:SII) (FRA:A781) lifting its holding to 10.41%.
The prominent Toronto-based asset management firm with a track record of identifying and funding successful early-stage resource projects across the globe now holds more than 43 million shares.