SOVEREIGN METALS LTD

Director Julian Stephens sold 1,000,000 ordinary shares of Sovereign Metals on the ASX via a special crossing trade at A$0.675 per share, reducing his indirect holding from 14,157,518 to 13,157,518 shares. The proceeds of A$675,000 were used to pay personal tax and other liabilities. Stephens continues to hold 600,000 unlisted performance rights expiring on 30 June 2028; the transaction did not occur during a blackout period. » Mere på de.investing.com

Sovereign Metals has signed a non-binding memorandum of understanding with Mitsui for the supply of up to 70,000 tonnes per year of natural rutile concentrate (titanium dioxide content >95%) from the Kasiya project in Malawi. The agreement provides for an initial term of four years from the planned start of production in 2030 with an option to extend for five years and is non-exclusive; pricing will be market-based. The MoU is valid for two years and is subject to existing agreements with Rio Tinto and the International Finance Corporation. » Mere på de.investing.com

Sovereign Metals has produced a monazite concentrate with high heavy rare earth content from the rutile processing residues of the Kasiya project in Malawi, averaging 2.9% combined dysprosium‑terbium and 11.9% yttrium. The concentrate was recovered from material that would otherwise be discarded and is not expected to require extensive additional processing beyond the existing rutile and graphite flowsheet. The company plans further mineralogical evaluations and economic studies; high market prices and export controls from China have increased the strategic significance of the findings. » Mere på de.investing.com