Sovereign Metals Ltd 16.1% potential upside indicated by Berenberg Bank

Sovereign Metals Ltd with ticker (LON:SVML) now has a potential upside of 16.1% according to Berenberg Bank.

SVML.L

Berenberg Bank set a target price of 39 GBX for the company, which when compared to the Sovereign Metals Ltd share price of 34 GBX at opening today (06/06/2024) indicates a potential upside of 16.1%. Trading has ranged between 20 (52 week low) and 37 (52 week high) with an average of 61,519 shares exchanging hands daily. The market capitalisation at the time of writing is £354,692,076.

Sovereign Metals Limited is an Australia-based company focused on the development of its Kasiya rutile project (Kasiya) in Malawi. Kasiya, located in central Malawi, is the natural rutile deposit and the flake graphite deposits in the world. The Company focuses on its flagship Kasiya Project while retaining exposure to graphite through the Kasiya co-product. It focuses on developing a sustainable operation to supply natural rutile and graphite to global markets. Kasiya’s Mineral Resource Estimate (MRE) is 1.8Bt at 1.01% rutile resulting in over18 Mt tons of contained natural rutile. The MRE has broad zones of very high-grade rutile, which occur contiguously across a very large area of over 180 square kilometers. Kasiya’s graphite by-product Mineral Resource Estimate (MRE) is 1.8 Bt at 1.32% graphite, containing over 23 Mt of graphite. Malawi & Infrastructure is a rutile province located in Malawi.