Base Metals
Posted By OrePulse
Published: 26 Mar, 2025 11:57
Sovereign raises A$40m for Malawi project development
Aim- and ASX-listed Sovereign Metals has received firm commitments for a placement of 47.06-million new fully paid ordinary shares to raise gross proceeds of A$40-million before costs, for development activities at its Kasiya rutile graphite project, in Malawi.
The funds will be used for permitting studies, general working capital and other corporate purposes.
The placement was strongly supported by new and existing shareholders, including large global institutional investors, the company points out.
Petra Capital acted as sole lead manager and sole bookrunner.
The placement is expected to settle on April 1, and the company will issue the new shares on or about April 2.
Related Articles
Sanu Gold Announces $5 Million Private Placement L...
06 Sep, 2024 13:08
Ivanhoe Mines produces 40,347 tonnes of copper at ...
09 Sep, 2024 09:21
Andrada partners with SQM to develop Namibia lithi...
10 Sep, 2024 08:56
US, Saudi Arabia in talks to secure metals in Afri...
10 Sep, 2024 09:07
DRC: Eurasian Secures $150 Million to Develop a Co...
12 Sep, 2024 06:22
Zambian mines desperate for power turn to a surpri...
13 Sep, 2024 11:18
Africa at the cusp of a critical minerals boom...
17 Sep, 2024 07:40
Coolabah to unite Broken Hill assets, paving path ...
17 Sep, 2024 08:40
Marula Mining completes first manganese exports sa...
18 Sep, 2024 09:05
Zambia mines lobby calls on government to halt ref...
18 Sep, 2024 11:04Trending News
Energy Other
Iran war escalation puts two major oil routes at risk...
17 Jul, 2026 13:25
75 min read
Generation
AfDB approves $110 million for Ethiopia’s first private 300 MW wind power project...
17 Jul, 2026 12:46
82 min read
Logistic Other
ECI supports $50 million trade finance facility for Gerald Group with ADCB...
17 Jul, 2026 08:47
96 min read