Base Metals
Posted By OrePulse
Published: 24 Mar, 2025 13:00
Sovereign Metals confirms intention to raise A$40m for Malawi project
In response to media speculation in respect of a potential capital raising by ASX- and Aim-listed Sovereign Metals, the company has confirmed that it has engaged Petra Capital as lead manager and sole bookrunner to raise A$40-million through a placement at A$0.85 a share.
The company notes that funds raised will be applied to development costs for the Kasiya rutile/graphite project, in Malawi, including permitting, studies and other costs and working capital and offer costs.
The company notes that there can be no certainty that the fundraise will complete, nor as to the final structure or terms of any such fundraise.
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