REG - Savannah Resources - Appointment of Project Finance Advisor

Savannah ResourcesAnnouncement

24/07/2025 07:00

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RNS Number : 3204S  Savannah Resources PLC  24 July 2025

 

 

24 July
2025

Savannah Resources Plc

(AIM: SAV) ('Savannah', or the 'Company')

 

Appointment of Project Finance Advisor to Advance Funding Strategy for Barroso
Lithium Project

 

Savannah Resources Plc, the developer of the Barroso Lithium Project (the
'Project') in Portugal, a 'Strategic Project' under the European Critical Raw
Materials Act and Europe's largest spodumene lithium deposit is pleased to
announce the appointment of Cutfield Freeman & Company Limited
('CF&Co') as its Project Finance Advisor ('PF Advisor'). CF&Co will
assist in structuring and leading the next phase of the Company's funding
strategy.

 

Highlights:

·      Increased Investor Interest: Financial interest in the Project
has grown significantly following recent progress in engineering, resource
upgrades, its designation as a Strategic Project by the European Commission
earlier this year and the investments made in Savannah by its significant
shareholders and institutional investors.

·      PF Advisor Selection: To define the optimal financing structure
and initiate engagement with potential funding partners, Savannah launched a
competitive tender process in April. A set of selected parties with extensive
sector knowledge were invited to submit detailed proposals.

·      Appointment of CF&Co: Following a rigorous evaluation of the
proposals, Savannah has selected CF&Co as its PF Advisor. CF&Co brings
deep expertise in the lithium and mining sectors and a strong track record of
advising on relevant transactions in the industry.

·      PF key to development schedule: By making this appointment,
Savannah is maintaining its commitment to the rapid development of the Project
so that the Company is well placed to leverage the favourable lithium market
dynamics which are expected in the coming years.

·      Next Steps: CF&Co will support Savannah on the development
and implementation of Savannah's funding strategy, which already includes
previously reported work options such as the offtake heads of terms agreement
with AMG and a non-binding LoI from the KfW and Euler Hermes AG, the
multilateral and ECA acting for the German Government, confirming the
potential for a guarantee on a loan up to USD 270 million (see RNS
announcements dated 20 June 2024 and 3 December 2024). The Company will
provide further updates as appropriate.

 

Emanuel Proença, CEO of Savannah Resources, commented: "The appointment of
Cutfield Freeman & Company marks another important milestone as we
progress towards the development of the Barroso Lithium Project. Their proven
track record and sector knowledge will be invaluable as we advance our funding
strategy, and continue to build a competitive project that is set to come
online in time to support Europe's critical battery, electric vehicle and
renewable sectors."

 

Tony Butler, Managing Director of Cutfield Freeman, commented: "We are
delighted to be appointed by Savannah Resources to advise on the project
financing for the Barroso Lithium Project. As a strategically important asset,
development of the Project is key for securing a sustainable lithium supply
chain for Europe. We look forward to working with management to deliver the
right financing solution for the project."

 

 

Further Information

 

About CF&Co

CF&Co is an independent corporate finance advisor with offices in London,
Toronto, Hong Kong and Perth, providing independent advice to companies in the
mining and metals sectors. CF&Co advises on all aspects of corporate,
project and offtake-related finance, mergers and acquisitions and joint
ventures. Since it was founded in 2000, CF&Co has closed over US$22bn of
transactions.

 

Regulatory Information

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").

 

Savannah - Enabling Europe's energy transition.

**ENDS**

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For further information please visit www.savannahresources
(http://www.savannahresources) .com or contact:

 

 Savannah Resources PLC                                            Tel: +44 20 7117 2489

 Emanuel Proença, CEO
 SP Angel Corporate Finance LLP (Nominated Advisor & Broker)       Tel: +44 20 3470 0470

 David Hignell/ Charlie Bouverat (Corporate Finance)

 Grant Barker/Abigail Wayne (Sales & Broking)

 Canaccord Genuity Limited (Joint Broker)                          Tel: +44 20 7523 8000

 James Asensio / Charlie Hammond (Corporate Broking)

 Ben Knott (Sales)
 Media Relations

 Savannah Resources: Antonio Neves Costa, Communications Manager   Tel: +351 962 678 912

 

About Savannah

Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project (the 'Project') in northern Portugal. The
Project is the largest battery grade spodumene lithium resource outlined to
date in Europe and was classified as a 'Strategic Project' by the European
Commission under the Critical Raw Materials Act in March 2025.

 

Through the Project, Savannah will help Portugal to play an important role in
providing a long-term, locally sourced, lithium raw material supply for
Europe's lithium battery value chain. Once in operation the Project will
produce enough lithium (contained in c.190,000tpa of spodumene concentrate)
for approximately half a million vehicle battery packs per year and hence make
a significant contribution towards the European Commission's Critical Raw
Material Act goal of a minimum 10% of European endogenous lithium production
from 2030.

 

Savannah is focused on the responsible development and operation of the
Barroso Lithium Project so that its impact on the environment is minimised and
the socio-economic benefits that it can bring to all its stakeholders are
maximised.

 

The Company is listed and regulated on the London Stock Exchange's Alternative
Investment Market (AIM) and trades under the ticker "SAV".

 

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