Sovereign Metals, Greatland Gold
Sovereign Metals announced that Rio Tinto has lifted its stake in the company to 19.9% from 19.76% following the exercise of options, with Rio making an investment of A$690,360 to acquire 1.3million shares. Berenberg said that this was "another example of Rio's confidence in an excellent project," adding "We remain of the view that Rio Tinto will, ultimately, take over Sovereign".Sovereign issued 2.
Shares were up 4%, at 30.7p/share. Sovereign has a market cap of A$361.52million.Greatland Gold said it has raised £6.7million at 4.8p/share via a placing on 11 September.This week the company announced it was buying the Havieron and Telfer gold assets in Western Australia from Newmont Mining in a transaction with a headline value of US$475 million.
Berenberg SCP Resource Finance
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