CAPITAL MARKETS

Sovereign plans graphite spin-out as sector attracts more investor attention

BETTER equity market conditions for graphite plays as well as better project focus have prompted rutile company Sovereign Metals to unveil spin-out plans for its Malawi graphite assets into a new company called NGX that is looking at an IPO next year to raise nearly A$10 million and an ASX listing.

 Sovereign now has a graphite IPO in hand called NXG

Sovereign now has a graphite IPO in hand called NXG

NXG is to be initially led by chartered accountant Matthew Syme who was on the board of Sovereign for a few years last decade. Sovereign's graphite assets include the Malingunde project where a November...

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