Savannah Resources PLC

SAV

Equity

ISIN GB00B647W791 / Valor 11886691

LSE London Stock Exchange, SETS (2024-12-23)

GBP 0.043%

Savannah Resources PLC
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About company

Savannah Resources PLC is a mining company listed on the London Stock Exchange, primarily focused on the exploration and development of lithium resources. The company's flagship project, the Barroso Lithium Project, is situated in northern Portugal and is recognized as the most significant hard rock spodumene lithium resource in Western Europe. The project is expected to produce approximately 200,000 tonnes per year of spodumene concentrate, positioning Savannah as a key player in the European lithium market. This strategic location and resource base provide investors with direct exposure to the rapidly expanding battery and electric vehicle sectors within the European Union.

Summarized from source with an LLMView SourceSector: Energy

Financial Fundraising

In July 2023, Savannah Resources PLC successfully completed a fundraising event, securing GBP 6.5 million in a challenging market environment. This capital boost, priced at 4.67p per share, matched the market price at the time, demonstrating strong investor confidence. The funds have significantly strengthened the company's financial position, enabling it to advance the Definitive Feasibility Study and the environmental licensing process with greater confidence.

CEO Appointment

Savannah Resources PLC announced a strategic leadership change in September 2023, appointing Emanuel Proença as the new CEO. Proença's prior experience as CEO of Prio Supply, where he significantly increased EBITDA, positions him well to drive Savannah's growth and operations in Portugal. This change underscores the company's commitment to enhancing its operational capabilities and strengthening its presence in the region.

Strategic Partnering Process

Following the approval of the Development Impact Assessment and a positive Scoping Study in 2023, Savannah Resources PLC initiated a Strategic Partnering Process in July to explore potential long-term financing and development partnerships for its lithium project. The process attracted significant interest, leading to the appointment of Barclays Bank Plc and Barrenjoey Advisory Pty Limited as joint financial advisers to manage the engagement with potential partners.

Stakeholder Engagement

Savannah Resources PLC has intensified its stakeholder engagement efforts following the receipt of the Development Impact Assessment and the appointment of Emanuel Proença as CEO. The company has been proactive in communicating project benefits and addressing community concerns through various engagements, which has begun to positively influence local perceptions and support for the project.

Response to Operation Influencer

In response to the Operation Influencer investigation announced by the Portuguese Public Prosecutor in November 2023, Savannah Resources PLC conducted an independent legal review which concluded in January 2024. The review found no evidence of wrongdoing by the company related to the allegations, affirming Savannah's strong legal standing and allowing it to continue its operations without legal hindrances.

Summarized from source with an LLMView Source

Key figures

110%1Y

-2.27%3Y

89.0%5Y

Performance

55.0%1Y

72.2%3Y

78.0%5Y

Volatility