REG - Savannah Resources - Statement Re Media Speculation

Savannah ResourcesAnnouncement

18/09/2023 15:30

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RNS Number : 8107M  Savannah Resources PLC  18 September 2023

 

 

18 September 2023

Savannah Resources Plc

(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')

 

Statement Re Media Speculation

 

Savannah Resources Plc, the European lithium development company, notes the
recent Portuguese press speculation and confirms that it is not currently in a
sale process in relation to the Barroso Lithium Project (the 'Project'), or
the Company itself. The assertion in the press that Savannah is close to a
sale is unfounded and misleading.

 

As noted in Savannah's announcement on 6 September 2023, the Company has
received significant commercial interest in the Project for several years now
and following the endorsement of the DIA and the completion of the new
positive Scoping Study, there has been additional interest generated from
across the lithium value chain. From the dozens of commercial inquiries which
Savannah has received, the Company is currently working through an orderly
process to shortlist potential strategic partners for the Project. Savannah is
focusing on identifying groups which are willing to assist with the financing
of the Project's construction and bring complementary skills or additional
opportunities to a long-term partnership with Savannah. The Company expects to
provide an update on the Project's commercial arrangements towards the end of
the year.

 

A further announcement will be made if and when appropriate.

 

Savannah - Enabling Europe's energy transition.

 

**ENDS**

 

Follow @SavannahRes on X (Formerly known as Twitter)

 

Follow Savannah Resources on LinkedIn

 

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

 

 Savannah Resources PLC                                                  Tel: +44 20 7117 2489

 Emanuel Proença, CEO

 SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)       Tel: +44 20 3470 0470

 David Hignell/ Charlie Bouverat (Corporate Finance)

 Grant Barker/Abigail Wayne (Sales & Broking)

 RBC Capital Markets (Joint Broker)                                      Tel: +44 20 7653 4000

 Farid Dadashev/ Jamil Miah

                                                                         Tel: +44 20 3757 4980

 Camarco (Financial PR)

 Gordon Poole/ Emily Hall / Fergus Young

 LPM (Portugal Media Relations)                                          Tel: +351 218 508 110

 Herminio Santos/ Jorge Coelho

 

 

About Savannah

Savannah Resources is a mineral resource development company and sole owner of
the Barroso Lithium Project in northern Portugal.

 

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. Through the Barroso Lithium Project, Savannah can help Portugal to
play an important role in providing a long-term, locally sourced, lithium raw
material supply for Europe's rapidly developing lithium battery value chain.
Production is targeted to begin in 2026, producing enough lithium for
approximately half a million vehicle battery packs per year.

 

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 FWB: SAV, and the Börse Stuttgart (SWB) under the
ticker "SAV".

 

 

 

 

 

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