Sovereign Metals to Work with Rio in 2024 to Advance World's Largest Rutile Titanium Discovery #svml

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➡️ Sovereign Metal has discovered the largest rutile (titanium dioxide) deposit ever found globally. This discovery is significant as it is the first rutile-dominant deposit found in the last 70 years, with only one other rutile producer currently in operation. ➡️ Rio Tinto has acquired a 15% stake in Sovereign Metals and has the option to increase its stake to 19.99%. This partnership brings expertise, value chains, and market access to Sovereign Metals. ➡️ The Preliminary Feasibility Study (PFS) indicates a robust project with an estimated NPV (Net Present Value) of $1.6 billion and a life of mine of 25 years. The project also has the potential to generate over $400 million in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).