PERTH (miningweekly.com) – ASX-listed Sovereign Metals has announced plans to dual list on the Aim market of the London Stock Exchange.
Sovereign is currently undertaking a scoping study for the Kasiya rutile project, in Malawi, which is due for completion in late 2021. The project has a mineral resource estimate of 644-million tonnes, at 1.01% rutile, including a high-grade component of 137-million tonnes at 1.41% rutile, marking it as one of the largest natural rutile deposits in the world.
The company has now lodged its pre-admission announcement for its ordinary shares to trade on the Aim, and share trading is expected to start on December 14 under the ticker code SVML.
Sovereign told shareholders that as part of the dual listing, current London-based director Ben Stoikovich will take the role of nonexecutive chairperson, while Ian Middlemas will become a nonexecutive director.
“We are very pleased to be listing on the Aim market, which will provide exposure of our globally significant rutile discovery to new capital markets,” said MD Dr Julian Stephens.
“The company is looking forward to presenting the initial Kasiya scoping study before the end of the year to both current and new investors.”