Nacala Corridor provides route for Malawi minerals southerntimesafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from southerntimesafrica.com Daily Mail and Mail on Sunday newspapers.
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.
S&P/ASX 200 dips as Victoria’s lockdown gets extended
OPEC and its allies reached a deal on Sunday to phase out 5.8 million barrels per day of oil production cuts by September 2022 as oil prices hit their highest levels in more than two years. Zoom announced on Sunday that its buying Five9, a provider of cloud contact centre software, in an all-stock deal valuing Five9 at US$14.7 billion.
S&P/ASX 200 (INDEXASX:XJO) was trading 0.82% lower at 7288 points by about 12.50 pm as Victoria’s lockdown was extended as the state grapples with the Delta variant of COVID-19.
Premier Daniel Andrews said that ending the lockdown would not be the right thing to do.
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Sovereign Metals appoints mineral sands industry veteran to drive rutile project towards development
The appointment of Paul Marcos as head of development underpins Sovereign’s commitment to rapidly advance the Kasiya Project in Malawi, which is regarded as one of the world’s largest undeveloped rutile projects. “Attracting individuals of this calibre to the Sovereign team is a huge endorsement of the Kasiya Project,” says MD.
Sovereign Metals Limited (ASX:SVM) (FRA:SVM) has appointed Paul Marcos, an engineering and consulting expert with considerable mineral sands experience, as head of development for the Kasiya Rutile Project in Malawi.
According to the company, Marcos’ appointment will bring deep mineral sands metallurgical processing, engineering and operations expertise.