NEWS RELEASE
I 3 JUNE
2024
ASX PRICE
QUERY
Sovereign Metals Limited (ASX:SVM;
AIM:SVML) (the Company or
Sovereign) advises that the
below response was provided to the Australian Securities Exchange
(ASX) following the receipt
of a query from ASX regarding an increase in Sovereign's share
price and in the volume of trading securities.
To view the announcement in full,
please refer to:
https://www.investi.com.au/api/announcements/svm/84faf4e8-a54.pdf.
3 June 2024
Sam Dorland
Australia Securities
Exchange
Central Park, 152-158 St Georges
terrace
Perth WA 6000
By email:
sam.dorland@asx.com.au
Dear Sam,
Response to Price Query
In response to your correspondence
dated 3 June 2024 regarding an increase in the Sovereign Metals
Limited's (Company or
Sovereign) share price and
in the volume of trading securities, the Company's response is as
follows:
1. No, the
Company is not aware of any information that has not been announced
which, if known, could be an explanation for recent trading in the
securities of the Company.
2. Not
applicable.
3. Sovereign
notes recent Company announcements regarding developments at the
Kasiya Rutile Project in Malawi (Kasiya) including:
(a) Commencement of pilot
mining and land rehabilitation program at Kasiya as part of the
ongoing optimisation study (refer to ASX announcement dated 22 May
2024);
(b) Downstream testwork at
Kasiya has demonstrated high quality graphite for lithium-ion
batteries (refer to ASX announcement dated 15 May 2024);
(c) Graphite circuit feed
prepared at the Company's Lilongwe laboratory facility produced
high quality graphite concentrates for us in pilot-scale flotation
and cleaning (refer to ASX announcement dated 8 May 2024);
and
(d) The increase of graphite
bulk sample scale for Kasiya with the installation of an industrial
scale spiral concentrator at the Company's Lilongwe laboratory
facility (refer to ASX announcement dated 1 May 2024).
4. The Company
confirms that it is in compliance with the listing rules, in
particular, Listing Rule 3.1.
5. The Company
confirms that its responses to the questions above have been
authorised and approved in accordance with its published continuous
disclosure policy or otherwise by its board or an officer of the
Company with delegated authority from the board to respond to ASX
on disclosure matters.
Classification 3.1 Additional
regulated information required to be disclosed under the laws of a
Member State
ENQUIRIES
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Dylan Browne
Company Secretary
+61(8) 9322 6322
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Nominated Adviser on AIM and
Joint Broker
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SP Angel Corporate Finance
LLP
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+44 20 3470 0470
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Ewan Leggat
Charlie Bouverat
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Joint
Brokers
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Stifel
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+44 20 7710 7600
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Varun Talwar
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Ashton Clanfield
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Berenberg
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+44 20 3207 7800
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Matthew Armitt
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Jennifer Lee
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Buchanan
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+ 44 20 7466 5000
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