Tag Archives: Stifel Nicolaus Europe

Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) is pleased to announce the appointment of Stifel Nicolaus Europe Limited, a subsidiary of Stifel Financial Corp (Stifel), as joint broker to the Company with immediate effect. Stifel will work alongside Sovereign’s incumbent brokers, Joh. Berenberg, Gossler & Co KG, and SP Angel Corporate Finance LLP.

Stifel is a full-service investment bank, offering securities brokerage, trading, research, underwriting and corporate advisory services.

Stifel has more than 600 investment banking professionals which allows them to deliver the full capabilities of Stifel’s institutional capital markets platform, which are among the most highly regarded in the industry across all major markets in North America and Europe.

In 2023, Stifel was named US Mid-Market Equity House of the Year by International Financing Review (IFR).

ENQUIRIES

Sovereign is focused on the development of its Kasiya project in Malawi. Kasiya is the largest natural rutile deposit and the second-largest flake graphite deposit in the world. Sovereign aims to develop a low-CO₂ and sustainable operation to supply highly sought-after natural rutile and graphite to global markets.

In July 2023, Rio Tinto invested A$40.4 million in Sovereign resulting in an initial 15% shareholding. Under the Investment Agreement, Rio Tinto will provide assistance and advice on technical and marketing aspects of Kasiya.

Results of the PFS released in late 2023, demonstrated Kasiya’s potential to become the world’s largest rutile producer at 222kt per annum and one of the world’s largest natural graphite producers outside of China at 244kt per annum based on an initial 25 year life-of-mine. 

Delivering compelling economics with a post-tax NPV₈ of US$1.6 Billion and post-tax IRR of 28%, this long-life, multi-generational operation was modelled to initially generate over US$16 Billion of revenue and provide an average annual EBITDA of US$415 Million per annum. 

Kasiya’s PFS modelling was limited to only 25 years meaning substantial production rate and mine life upside exists, with an initial Probable Ore Reserves declared of 538Mt, only representing 30% of the total Mineral Resource.