Sovereign Metals' Kasiya project advances despite $40m net loss in 2025

Sovereign Metals Limited's 2025 Annual Report shows substantial operational and financial progress, with a net loss of $40,440,339, compared to $18,600,894 in 2024. Despite the loss, cash and cash equivalents increased to $54,538,435 from $31,564,130 in 2024, supported by additional investments from Rio Tinto and a $40.0 million placement. The Kasiya Project remains central, reaffirmed by the Optimised Pre-Feasibility Study (OPFS) as a large, low-cost producer of natural rutile and flake graphite.

Key milestones include the finalisation of a dry mining method for the Definitive Feasibility Study (DFS) and a non-binding Memorandum of Understanding (MOU) with Malawi's Electricity Supply Corporation (ESCOM) for long-term power supply. Japan's Toho Titanium Company Limited confirmed Kasiya rutile's suitability for high-performance titanium products, and the US Commerce Department’s 93.5% anti-dumping duties on Chinese graphite imports underscore Kasiya’s strategic global significance. The project also delivered exceptional first-year rehabilitation results, achieving a 5x crop yield improvement.

Share-based payments expenses totalled $4,309,932 (2024: $2,303,201). The company’s equity increased to $174,800,846 from $117,835,631 in 2024, demonstrating strong investor confidence and strategic advancement.