Savannah Resources (LON:SAV) is an AIM listed exploration and development company focussed on the Jangamo Heavy Mineral Sands Project in Mozambique, and two copper blocks in Oman. Previously trading as African Mining and Exploration the company changed its name to Savannah Resources in October 2013.
Following the phase 3 drilling announcement at the Jangamo project, David Archer the Chief Executive Officer of Savannah Resources has taken time out to discuss various business aspects, including; its Alecto Minerals (LON:ALO) shareholding, the Oman copper project, the Jangamo project, the Bergen Global Opportunity Fund and forward plan.
Q1. Briefly, could you set the scene with the Savannah Resources background, business modeland company mission?
Savannah Resources is an AIM listed exploration company focussed on building a multi-commodity exploration, development and ultimately production company in Oman and Mozambique.
In October 2013 Savannah Resources changed its name from African Mining & Exploration Plc, to reflect a change in the Company’s strategy as it looked to establish a more diverse investment portfolio; having defined a maiden JORC compliant resource at the Kossanto Gold Project in Mali, the Board felt it strategically practical and financially beneficial to divest a number of the Company’s Malian assets to AIM listed Alecto Minerals Plc in August 2013 in return for what is now an effective 21.1% interest in Alecto. Following this, Savannah acquired an 80% interest in the highly prospective Jangamo Heavy Minerals Sands Project, which is located in a world class mineral sands region in Mozambique. Subsequently in July 2014, Savannah broadened its geographical and commodity reach through the acquisition of two copper exploration licences located in the mineral rich Ophiolite belt in Oman where it believes significant opportunity exists to build its exploration and existing copper resources portfolio towards copper production in the medium term.
Savannah is undertaking fast paced exploration programme at both is Mozambique and Oman projects in order to maximise value for shareholders.
Q2. Briefly what skills and experience do the management team collectively bring to the company?
Savannah is distinguished in having an executive team that brings a deep pool of experience to bear in exploration, mine development and production. Savannah has two highly experienced management teams situated onsite in Mozambique and Oman, who are committed to executing our fast paced exploration programmes. In particular, the exploration team will bring Australian best exploration…
