Sovereign Metals Ltd - mining exploration and development company with assets in Malawi - Responds to query from Australia Securities Exchange regarding its increased share price and volume of trading securities. Says it is ‘not aware of any information that has not been announced which, if known, could be an explanation for recent trading’. Does however note various announcements in May regarding developments at its Kasiya rutile project. These include the start of pilot mining and land rehabilitation ‘as part of the ongoing optimisation study’; downstream testwork showing ‘high-quality graphite for lithium-ion batteries’; and increased graphite bulk sample scale with installation of an industrial-scale spiral concentrator at its Lilongwe facility.

Current London stock price: 36.75 pence, up 11% on Monday afternoon in London; closed up 3.1% at A$0.67 in Sydney

12-month change: up 67% in London

Current Sydney stock price: A$0.67, up 3.1% at close on Monday

12-month change: up 63%

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