Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has received a further investment of $690,360 from Rio Tinto (ASX:RIO), after the mining giant exercised its unlisted options to obtain over 1.29 million shares in SVM.
This brings Rio Tinto’s holding in the company to 19.9%, just two months after Rio made its initial $18.5 million investment and offered its technical and marketing expertise to support the development of the Kasiya natural rutile and graphite deposit.
Exceptional electrochemical testing results
SVM recently put a sample of high-quality coated spherical purified graphite (CSPG) created from Kasiya natural graphite feedstock through its paces, achieving "outstanding" results with performance characteristics “comparable to the highest quality natural graphite battery material produced by dominant Chinese anode manufacturers”.
Electrochemical testing revealed very high first cycle efficiencies of 94.2% to 95.8%, excellent initial discharge capabilities greater than 360mAh/g, very close specific surface areas (BET) of greater than or equal to 2.0m2/g and tap densities of 1.11 to 1.18g/cm3.
These attributes contribute to longer battery life, minimise loss of lithium in the battery charging cycle and offer high electrical storage capacity, demonstrating the high quality of the feedstock.
Kasiya currently holds a mineral resource estimate of 1.8 billion tonnes at 1.10% rutile for 18 million tonnes and 1.32% graphite for 23.4 million tonnes.
“Combining these excellent results with one of the largest graphite resources globally, industry-low operating costs and lowest global warming potential, Kasiya is presenting significant advantages over its graphite peers,” Sovereign Metals managing director Frank Eagar said in a previous announcement.