** Sovereign Metals' shares SVM.AX sinks 17% to A$0.810, set for weakest session since March 2020
** Miner to raise A$40 mln ($25.2mln) via placement of 47.1 mln shares at A$0.85 each
** Issues size about 12% of free float, per LSEG data, and price a 12.8% discount to last close
** Miner to use proceeds to develop Kasiya Rutile graphite project in Malawi
** About 2.9 mln shares traded in stock's busiest session since Sept 10, 2024
** Stock up 11.4% YTD, including current session's moves
($1 = 1.5853 Australian dollars)
(Reporting by Manasi Dasa in Bengaluru)
((Manasi.DasaSundeep@thomsonreuters.com))
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