Sovereign Metals - Kasiya Graphite Shows Excellent Suitability for Use in Lithium Ion Batteries
- Downstream testwork on Kasiya’s graphite co-product demonstrated it to have superior qualities showing excellent suitability for use in lithium-ion batteries
- Key outcomes were:
- Near perfect crystallinity – an indicator of battery anode performance
- Above benchmark >99.95% carbon purity achieved
- No critical impurities or deleterious elements commonly found in other natural graphite sources
- Further testwork underway to optimise concentrate grade and confirm optimal purification process
- In 2022, the lithium-ion battery anode market became the biggest end-market for natural flake graphite. Demand for anodes grew by 46% in 2022 compared to only 14% growth in natural flake graphite supply
Figure 1: Graphite demand / supply showing market deficit beginning 2025E
Source: Macquarie Research (March 2023)
June 8, 2023 – Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) is pleased to report recent outcomes of downstream testwork on Kasiya’s graphite co-product.
The Kasiya Project (Kasiya) has the potential to be the one of the world’s lowest cost and lowest global warming potential (GWP) sources of natural graphite. The Kasiya project is the largest natural rutile deposit and one of the largest flake graphite deposits in the world. Both minerals are critical to several of the world’s economies and decarbonisation targets.
Kasiya has a geological benefit with both natural graphite and rutile hosted in soft, friable saprolite material at surface that can be mined, beneficiated, and purified with a considerably lower carbon footprint than hard-rock operations or synthetic graphite production.
The results of the recent initial downstream testwork conducted by an independent German industrial mineral specialist demonstrated superior qualities and excellent suitability as feedstock for use in lithium-ion batteries.
In 2022, the lithium-ion battery anode market became the biggest end-market for natural flake graphite. Greater capacity batteries, such as those required for electric vehicles, are expected to drive significant demand for graphite over the coming years.
Sovereign’s Managing Director Dr Julian Stephens commented:
“The latest graphite downstream testwork confirms the superior crystallinity and purity of Kasiya’s natural graphite. Kasiya will potentially be one of the lowest cost flake graphite projects in the world and is also estimated to have one of the lowest global warming potentials of any current and future graphite projects. Producers and end users of lithium-ion batteries are already closely monitoring the carbon footprint associated with the raw materials that feed into battery technology.
“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. Kasiya’s PFS is progressing well with the Company looking forward to releasing the outcomes of the study in coming months.”
ENQUIRIES
Dr Julian Stephens (Perth)
Managing Director
+61(8) 9322 6322
Sam Cordin (Perth)
+61(8) 9322 6322
Sapan Ghai (London)
+44 207 478 3900
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Competent Persons’ Statements
The information in this report that relates to Exploration Results is based on information compiled by Mr Samuel Moyle, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Moyle is the Exploration Manager of Sovereign Metals Limited and a holder of ordinary shares and unlisted performance rights in Sovereign Metals Limited. Mr Moyle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Moyle consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to Metallurgical Results is based on information compiled by Mr Paul Marcos, a Competent Person who is a member of the AusIMM. Mr Marcos is an employee of Sovereign Metals Limited and a holder of ordinary shares and unlisted performance rights in Sovereign Metals Limited. Mr Marcos has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Marcos consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Forward Looking Statement
This release may include forward-looking statements, which may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These forward-looking statements are based on Sovereign’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
This ASX Announcement has been approved and authorised for release by the Company’s Managing Director, Dr Julian Stephens.
