Sovereign Metals (ASX:SVM) has begun trading its shares on the OTCQX market under the ticker code SVMLF.
Trading on the OTCQX market provides the company with access to a broader eligible US investor base.
Sovereign is also listed on the ASX and the London Stock Exchange’s secondary Alternative Investment Market (AIM:SVML).
The OTCQX market has over 12,000 US and global securities traded. Sovereign previously traded on the OTC Pink market and has since upgraded to the OTCQX.
Sovereign, which has a market capitalisation of $418.28 million, is focused on becoming a supplier of titanium, in the form of rutile, and graphite to global markets.
The company’s wholly owned Kasiya Rutile-Graphite Project in Malawi, southeast Africa, is considered among the “largest” known rutile deposits and “second-largest” flake graphite deposit.
Sovereign is currently undertaking an optimisation study on the project, which the company says has the potential to be the world’s largest and lowest-cost producer of rutile and graphite.
Rutile is the purest, highest-grade natural form of titanium dioxide and is the preferred feedstock in manufacturing titanium pigment and producing titanium metal.
Titanium is an essential component in aerospace, defence, pigments, medical and consumer technologies. According to the US Geological Survey, China and Russia control around 70% of the global primary titanium supply chain.
Meanwhile, graphite is the largest component of lithium-ion batteries used in electric
vehicles. Graphite anode material can be up to 50% of the mass of a typical lithium-ion battery.
According to S&P Global, in 2023, 77% of the world’s graphite production came from China.
Write to Aaliyah Rogan at Mining.com.au
Images: Sovereign Metals
