SVM’s primary asset, the giant Kasiya rutile-graphite project (Malawi), has received endorsement from mining giant Rio Tinto (RIO) with a A$40M (15%) corporate-level investment. RIO has also been issued with 35.5M 12-month options, which if exercised will yield A$18.5M and take the corporate’s SVM exposure to 19.9%. We believe SVM is now funded to completion of the Definitive Feasibility Study, scheduled for early 2025.
RIO’s involvement endorses the economics of Kasiya, SVM as an investable company, the group’s work to date, and Malawi as an investable jurisdiction. This vote of confidence could be enough to prompt other investors to follow suit.
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