14th Dec 2021 16:09
Sovereign Metals Ltd - Perth, Australia-based rutile miner in Malawi - Starts trading on AIM market in London on Tuesday. Also keeps listing on ASX market in Sydney, where it has a market capitalisation of AUD250 million, about GBP135 million.
Doesn't raise fresh funds as part of London initial public offering, but says AIM listing raises profile among investors in the Northern Hemisphere as it prepares to publish a scoping study for its Kasiya rutile project in Africa. Rutile is a crystal used in the production of titanium. Stock closes down 3.4% at AUD0.57, about 30.65 pence, in Sydney on Tuesday. It is quoted at 33.75p in London.
By Tom Waite; [email protected]
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