Savannah Resources Plc (SAV.L) Announced that it has entered into an Added Value Services Agreement with EIT InnoEnergy, as part of the Business Investment Platform (BIP) launched last September to accelerate the development of a European battery industry. To further accelerate transactions in the European battery value chain, EIT InnoEnergy has co-designed the BIP with industrial players and public and private financial institutions from the EBA network. The ultimate goal is to facilitate an additional flow of €70 billion of investment into EU based battery-related projects required to meet peak European demand by 2023. #SAV
Savannah Resources* (#SAV LN) 2.4p, Mkt Cap £29.2m – EIT InnoEnergy Agreement Savannah Resources has announced that it is working in conjunction with EIT InnoEnergy, which ʺis the innovation engine for sustainable energy across Europe and is responsible for the EBA250 initiative, the industrial development activities of the European Battery Allianceʺ. The initiative is aimed at facilitating ʺan additional flow of €70 billion of investment into EU based battery-related projects required to meet peak European demand by 2023ʺ and will, amongst other things assist ʺSavannah in securing finance to develop the Mina do Barroso projectʺ. Allying itself with this initiative also gives Savannah Resources access to potential major customers for Mina do Barroso’s future lithium output as well as innovative technology and potential strategic partners. The company also points out that it will provide ʺmarket intelligence and wider strategic support in areas such as government and social engagement, regulation and permitting, and industrial partnering through its team in Portugal and across Europe.ʺ CEO, David Archer, explained that Savannah Resources ʺis one of the first lithium raw material development companies in Europe to secure an Agreement with EIT InnoEnergy … … The Agreement confirms the significance the European Commission is placing on domestic lithium production as part of the region's new lithium battery value chain, and the key role Savannah is expected to play in this new industry as sole owner of the most significant conventional lithium deposit in Western Europeʺ. Mr. Archer explained that the company had been working with ʺthe European Commission's agencies and initiatives dedicated to the creation of a sustainable lithium battery value chain in Europe since 2018 … … our significant involvement in two technical initiatives being run by EIT RawMaterials, as well as the European Battery Alliance. Today's Agreement with EIT InnoEnergy formalises our working relationship with the group which manages EBA's industrial development programmeʺ. The CEO of EIT InnoEnergy, Diego Pavia, confirmed that ʺEIT InnoEnergy strives to push Savannah's project in Portugal to completion and further in order to support the development of a sustainable and regional lithium-ion battery supply chain in Europe. Our support will bring the project towards the final phase of its development and allow European customers, including battery and automakers, to source lithium chemicals in the EU." Conclusion: Savannah Resources has secured the backing of an influential and well-funded European battery initiative to help the development of its Mina do Barroso lithium project in Portugal. *SP Angel acts as Nomad to Savannah Resources
RNS Number: 9878 N Savannah Resources PLC 27 May 2020. Savannah is pleased to announce that it has entered into an' Added Value Services Agreement' with EIT InnoEnergy, as part of the Business Investment Platform launched last September to accelerate the development of a European battery industry. EIT InnoEnergy is the innovation engine for sustainable energy...
Savannah Resources* (SAV LN) 1.2p, Mkt Cap £16m – Covid19 precautions Savannah Resources has described the measures it is implementing to address the Covid19 virus The company is temporarily closing its offices and implementing remote working as well as suspending all field operations and all non-essential travel. Staff levels at Mutamba in Mozambique are being reduced to essential personnel. The company explains that despite some continuing disruption it is able to progress a number of tasks including the environmental and project optimisation work for the Mina do Barroso lithium project in Portugal and the project review of the recent pre-feasibility work from Mutamba where discussions on the required scope for further work are continuing with Rio Tinto. At the company’s copper project in Oman, the company reports that it is ʺContinuing the strategic review and discussions with potential acquirers of the projectsʺ. The company remains debt-free with cash of £3.5m as of 31st December 2019. Chief Executive, David Archer, said that ʺSavannah routinely manages its operations using remote work practices, so the enforced temporary closure of our various offices has had minimal impact to date. Furthermore, only modest field-based activities were underway or scheduled for the short term, so Savannah is fortunate that many of its current critical tasks can be continued and completed whilst staff are working remotelyʺ. Expressing caution as to the wider, longer term impacts of the Covid19 pandemic, Mr. Archer said ʺThe Coronavirus pandemic is a global health crisis which we all hope will be contained in the near future. However, the duration of its impact on all facets of society is uncertain and further Coronavirus-related market volatility must be expected, as must its potential impact on the Company achieving milestone events. Savannah will continue to closely monitor guidance on mitigating the virus' impacts and will act appropriately as guidance changes.ʺ Conclusion: Savannah Resources is continuing with activities that are capable of being conducted remotely. While the company cautions about the impact on timetables of the spread of the virus, it reports adequate cash resources to maintain continuing activity. *SP Angel acts as Nomad to Savannah Resources #SAV
Savannah Resources Plc #SAV announced, in its operational update, that it has temporarily closed all offices and arranged for all staff to work remotely and temporarily suspended all field activities. Additionally, it has temporarily reduced the staff at the Mutamba Project camp in Mozambique to essential personnel only and has suspended all non-essential travel.
RNS Number: 1225 I Savannah Resources PLC 31 March 2020. Savannah Resources Plc provides an operational update regarding its recent and future activities in relation to the current Coronavirus pandemic. •Temporarily reduced the staff at the Mutamba Project camp in Mozambique to essential personnel only.
Savannah Resources Plc #SAV Announced, in its final results for the year ended 31 December 2019, that its reported operating loss stood at £3.8 million, compared to a loss of £3.4 million in the previous year. Loss after tax was £4.4 million compared to £3.1 million in the prior year. The company’s diluted loss per share was 0.36p, compared to 0.44p in the prior year.
Savannah Resources* #SAV 0.90p, Mkt Cap £12.0m – Annual results highlight progress on Portuguese lithium and Mozambique mineral sands Savannah Resources has reported a loss of £3.8m (2018 - £3.4m loss) and a cash balance of £3.5m at 31st December 2018 as it moves ahead with its Mina do Barroso lithium project in Portugal and the Mutamba mineral sands project in Mozambique. Progress on the copper licences in Oman has been slower but the company has received a formal notice of the Government’s intention to grant two licences. At Mina do Barroso, the company has moved to 100% ownership of the project through the acquisition of the 25% minority interest. In addition, in June 2019, Savannah Resources secured an option for additional, adjacent ground covering 2.94km2 in the Aldeia lease area. During the year, the company increased the lithium resource at Mina do Barroso by 37% and added an additional by-product resource of some 14.4mt of quartz and feldspar which could brovide an important secondary revenue stream. The company is close to submitting an EIA totalling some 3000 pages as part of the Portuguese permitting process and continues with metallurgical test-work and further evaluations. The award of three mining licences over the Mutamba mineral sands project in Mozambique sets the scene for the company to make ʺpreparations to accelerate work on the Mutamba Pre-Feasibility Study.ʺ Conclusion: The impending submission of the EIA in Portugal and the award of licences in Mozambique, coupled with the Oman Government’s intention to award licences for the Block 5 copper projects all poinbt to busy year ahead for Savannah Minerals. *SP Angel acts as Nomad to Savannah Resources
RNS Number: 5404 G Savannah Resources PLC 18 March 2020 18 March 2020. Annual Report and Financial Statements for the Year Ended 31 December 2019. Mina do Barroso Lithium Project, Portugal.
RNS Number: 4453 G Savannah Resources PLC 17 March 2020. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 4443 G Savannah Resources PLC 17 March 2020. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 5974 B Savannah Resources PLC 31 January 2020. Savannah Resources plc, the AIM quoted resource development company, announces that the total issued share capital of the Company consists of 1,298,959,820 ordinary shares of 1 pence each.. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Third Mining Concession Issued for the Mutamba Heavy Mineral Sands Project, Mozambique. Savannah Resources plc, is pleased to announce that the Minister of Mineral Resources and Energy in Mozambique has issued Mining Licence 9228 C to Mutamba Mineral Sands S.A. This completes the grant of the three core, contiguous concessions in the Mutamba Heavy Mineral...
RNS Number: 7270 Y Savannah Resources PLC 03 January 2020. Savannah Resources plc, the AIM quoted resource development company announces that it has issued 1,500,000 ordinary shares in the Company of par value £0.01 following the exercise of options over Ordinary Shares as summarised below.. King has exercised Options over 1,500,000 Ordinary Shares at...
Second Mining Concession Issued for the Mutamba Heavy Mineral Sands Project, Mozambique. Savannah Resources plc, is pleased to announce that the Minister of Mineral Resources and Energy in Mozambique has issued Mining Licence 9229 C to Mutamba Mineral Sands S.A. This new Concession is the second mining license issued over the world-class Mutamba Heavy...
Mining Concession Issued for the Mutamba Heavy Mineral Sands Project, Mozambique. Savannah Resources plc, is pleased to announce that the Minister of Mineral Resources and Energy in Mozambique has issued Mining Licence 9735 C to its subsidiary, Matilda Minerals Lda. This new Concession forms a key part of the world-class Mutamba Heavy Mineral Sands Project...
Savannah Resources plc, the AIM quoted resource development company focused on becoming Europe's most significant producer of spodumene lithium from its Mina do Barroso Project in Portugal, is pleased to announce that it has become a sponsor to FST Lisboa, a team of engineering students from the University of Lisbon focused on the design and build of...
Savannah Resources Plc is a multi-commodity development company focused on building cash generative and profitable mining operations. The Company operates a strategic portfolio of assets, spanning near term production potential and longer term development opportunities: MINA DO BARROSO, PORTUGAL - Opportunity to become the first lithium producer in Europe via fast-paced development strategy BLOCK 4 and 5 COPPER BLOCKS, OMAN – Awaiting mining licence - offers near term production potential (Blocks 4 and 5) Jangamo / Mutamba Heavy Mineral Sands Project, Mozambique - Being developed in partnership with mining major Rio Tinto with a view to building a dry mining operation The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol "SAV", and the Börse Stuttgart (SWB) under the ticker "SAV".