Sovereign Metals Share Discussion Threads

[seagreen] 18/7/2023 10:12

Cheers Ken

[kenwrong] 17/7/2023 16:44

seagreen - you must mean Sapan Ghai? Long established in the smoke as the man to go to for mining M&A and financing deals. This deal with Rio isnt too shabby.

SP Angel have also made comment too

We believe Sapan Ghai, Chief Commercial Officer and Ben Stoikovich, Chairman spearheaded the negotiations with Rio Tinto from Sovereign’s London office.

We expect the Kasiya rutile/ilmenite and graphite mine could turn into a ‘world-class’ project with the involvement of Rio Tinto.


Conclusion: This is a great deal for Sovereign, it gives the company the funding it needs to develop the Kasiya project at a premium to the prevailing price.
It gives shareholders significant upside to increasing the scale and value of the project. It gives new investors the ability to come in and share the upside potential with the benefit of the Rio Tinto finance and expert support. It helps to accelerate the Kasiya project development and it allows potential for rival bids.

[voicingdissent] 17/7/2023 16:34

Not as daft as buying ASOS shares just before a PROFIT WARNING, eh seagreen

[seagreen] 17/7/2023 15:49

74tom amazed the Pure Gold fans have not reinvested in the TSX company that took them over they are in process of raising more cash at 70cents BWTFDIK I escaped PURE because of the debt

[74tom] 17/7/2023 15:13

@seagreen, I’d guess that poster got taken to the cleaners by SO4. Investing during mine build or production start up is very dangerous, Pure Gold were another that failed at that stage. HZM seem to be going ok at present but are still very much in the danger zone.

Getting in right after a major investment has given the project global credibility & right before a PFS release is ideal. Aussie investors are on the ball & there is plenty of capital for the right projects, unlike in the UK.

[seagreen] 17/7/2023 14:38

Transformational announcement and green flag for go
Under starting orders

But you need to be patient

[the count of monte_cristo] 17/7/2023 08:26

I'd imagine RIO will eventually acquire the company in time, the logical step for them as the project moves forward and the company need the 330m capex.

[74tom] 17/7/2023 07:23

Very interesting to see Rio getting involved here in a major way, trading a long way short of it's NPV potentially based on concerns around financing. However, with Rio onboard I'd suspect it won't be an issue...

[bigalan3] 17/7/2023 06:55

a very very positive statement. they will need less to develop it.

[lookingforhelp] 06/6/2023 13:01

Slowly sinking...

[1234gold] 20/4/2023 20:55

Not sure about this one. Don't trust Middlemas, but Ben S. appears sound.

[lookingforhelp] 19/4/2023 12:31

Complete scam.

Check out the spin out - NGX Limited

From the replacement prospectus...

Mr Ian Middlemas and Mr Matthew Bungey were previously directors of Salt Lake Potash Limited (ASX:SO4)
(SO4) which entered into voluntary administration pursuant to section 436A of the Corporations Act on 20
October 2021. Receivers and managers were also appointed to SO4 by secured creditors on 20 October 2021.
Mr Middlemas was the non-executive chairperson and Mr Bungey was a non-executive director of SO4 at the
time administrators were appointed. At a meeting of creditors held on 2 December 2022, unsecured creditors
of SO4 resolved to accept a deed of company arrangement (DOCA) as proposed by Arredo Pty Ltd (a company
controlled by Mr Middlemas). The DOCA was executed on 22 December 2022. The Company understands
that discussions between Arredo Pty Ltd and the secured creditors of SO4 to reach an agreement are ongoing.
Mr Bungey has received a prosecution notice in relation to his role at SO4 in an alleged failure to attend a
meeting to assist Mr Dermott McVeigh. If found guilty, this offence carries a maximum penalty of $26,640. Mr
Bungey at all times including at the time of the alleged failure to attend has been legally represented. This
matter with Mr Bungey is ongoing and he has not yet been required to plead to the allegation.
Mr Mark Pearce was also previously a non-executive director of SO4 but resigned as a director on 19 October
2020. Mr Pearce was not a director of SO4 at the time the company as placed into voluntary administration.
Mr Matt Syme was previously a director of Greenpharmtech Pty Ltd (Deregistered) a small proprietary limited
company that was wound up by a liquidator owing approximately $16,604 to unsecured creditors.

[bigalan3] 18/4/2023 16:27

Agree with btts entirely. Enormous

[backtothesoil] 18/4/2023 10:55

Meanwhile, SVM shares up over 10% in Oz last night. The prospects for this share price is enormous.

[bigalan3] 18/4/2023 10:43

Many thanks. I shall check my HL account.

[backtothesoil] 18/4/2023 10:41

The new ngx shares have appeared in my HL account - 1 ngx share for evey 11 svml shares. They are currently unlisted with no share price. I understand they will be looking to list on ASX.

[bigalan3] 17/4/2023 10:48

I have not received notification about the shares in the graphite spin-off, has anyone else?

[karimgrant] 27/1/2023 10:02

About to get interesting, next week up up and away!

[seagreen] 07/12/2022 13:09

could work out well if the graphite spin off takes off quicker as we all get some shares in the graphite project...time will tell.

[lenses] 07/12/2022 08:02

Spin off of graphite holdings.