Appointment of Stifel as Joint Broker
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Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) is pleased to announce the appointment of Stifel Nicolaus Europe Limited, a subsidiary of Stifel Financial Corp (Stifel), as joint broker to the Company with immediate effect. Stifel will work alongside Sovereign's incumbent brokers, Joh. Berenberg, Gossler & Co KG, and SP Angel Corporate Finance LLP.
Stifel is a full-service investment bank, offering securities brokerage, trading, research, underwriting and corporate advisory services.
Stifel has more than 600 investment banking professionals which allows them to deliver the full capabilities of Stifel's institutional capital markets platform, which are among the most highly regarded in the industry across all major markets in North America and Europe.
In 2023, Stifel was named US Mid-Market Equity House of the Year by International Financing Review (IFR).
Ore Reserve for the Kasiya Deposit
| Classification | Tonnes (Mt) | Rutile Grade (%) | Contained Rutile (Mt) | Graphite Grade (TGC) (%) | Contained Graphite (Mt) | RutEq. Grade* (%) |
|---|---|---|---|---|---|---|
| Proved | - | - | - | - | - | - |
| Probable | 538 | 1.03% | 5.5 | 1.66% | 8.9 | 2.00% |
| Total | 538 | 1.03% | 5.5 | 1.66% | 8.9 | 2.00% |
* RutEq. Formula: Rutile Grade x Recovery (100%) x Rutile Price (US$1,484/t) + Graphite Grade x Recovery (67.5%) x Graphite Price (US$1,290/t) / Rutile Price (US$1,484/t). All assumptions are taken from this Study ** Any minor summation inconsistencies are due to rounding.
Kasiya Total Indicated + Inferred Mineral Resource Estimate at 0.7% rutile cut-off grade
| Classification | Resource (Mt) | Rutile Grade (%) | Contained Rutile (Mt) | Graphite Grade (TGC) (%) | Contained Graphite (Mt) |
|---|---|---|---|---|---|
| Indicated | 1,200 | 1.0% | 12.2 | 1.5% | 18.0 |
| Inferred | 609 | 0.9% | 5.7 | 1.1% | 6.5 |
| Total | 1,809 | 1.0% | 17.9 | 1.4% | 24.4 |
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