Sovereign Metals Signs MOU With Commodity Trader, Merchant for Marketing of Malawi Project Graphite
MT Newswires Live
Feb 17
Sovereign Metals (ASX:SVM) signed a non-binding memorandum of understanding (MOU) with commodity trader and merchant Traxys North America for the marketing and sale of graphite products from the Kasiya project in Malawi, according to a Tuesday filing with the Australian bourse.
The MOU, which contemplates a supply agreement to cover five to ten years of production from the project, is targeting around 40,000 tonnes per year of graphite concentrate for stage one and up to 80,000 tonnes per year thereafter, the filing said.
Sovereign Metals shares rose 2% in morning trade on Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.