Sovereign Metals (ASX:SVM) said it is advancing the definitive feasibility study for the Kasiya rutile-graphite project in Malawi during the September quarter, including finalizing mining fleet design, process plant configuration, and mine gate-to-vessel logistics solutions, according to a Thursday Australian bourse filing.
The study is targeted for completion in the fourth quarter.
The firm said geotechnical investigations will provide subsurface data to inform detailed engineering design and infrastructure planning across major project components. It conducted test work to characterize soil and rock profiles in the June quarter.
Its shares fell 3% in recent trading on Thursday.
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