Sovereign Metals Ltd - Mining exploration and development company focusing on flagship Kasiya rutile deposit in Malawi - Says testing at Kasiya graphite project shows ‘near perfect’ crystallinity, as carbon purity goes above benchmark. Says results demonstrate ‘excellent suitability’ for use in lithium-ion batteries. Adds, further testwork is underway to confirm optimal purification process. This comes after the lithium-ion battery anode market became the largest end-market for natural flake graphite, with demand for anodes growing by 46%.

Director Julian Stephens says:‘These results bolster Kasiya’s competitive advantage, indicating that not only does the project have the potential to be a dominant rutile supplier, but also a dominant supplier of graphite suitable for the lithium-ion battery industry.’

Current stock price: 22.70 pence, up 3.2% on Thursday

12-month change: down 26%

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