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Savannah Resources - Mina do Barroso Lithium Project Update

RNS Number : 2946V
Savannah Resources PLC
06 August 2020
 

 

 

6 August 2020                                                                                                                                

 

Savannah Resources Plc

('Savannah' or the 'Company')

 

Mina do Barroso Lithium Project Update

 

University of Minho Socio Economic Report available on Savannah website

 

Following on from the Company's RNS of 27 July 2020 regarding the key findings and recommendations made in a commissioned report (the "Report") from the University of Minho into the potential economic impacts of developing the Mina do Barroso Lithium Project ("Mina do Barroso", "Project"), the Report has now been uploaded to Savannah's website.

 

Available in Portuguese, or as an English translation, the full report and executive summaries can be found at on the following pages on the site:

 

·    Presentations, Factsheets and Other Reports

http://www.savannahresources.com/investor-relations/presentations-and-reports/

·    Mina do Barroso Lithium Project, Portugal 

http://www.savannahresources.com/assets/mina-do-barroso/

 

David Archer, Savannah's Chief Executive Officer said, "We are happy to share the Report completed by Professors Cerejeira and Carballo-Cruz from the University of Minho. We believe their excellent work brings further clarification regarding the many positive benefits that Mina do Barroso could bring. Their quantitative and qualitative analysis shows that it is a project of significant importance, not only in terms of the local economy, but also for the national economy of Portugal, and as part of the European Commission's plans to create an end-to-end lithium value chain in Europe. We have always believed the Project could be a major force for good in the local area via the creation of jobs, by acting as a major new customer for other local businesses, through the payment of taxes, and by making direct contributions of finance and other resources to society through our Benefit Sharing Plan.

 

"The Report should help everyone to understand the scale of the contribution the Project, which we intend to develop in a sustainable and responsible manner, could make locally and also clarifies its significance to Portugal's national economy, and its potential as a catalyst for a much larger programme of industrial development based on Portugal's natural resources, particularly its lithium."

**ENDS**

 

For further information please visit www.savannahresources.com or contact:

 

Savannah Resources PLC

David Archer, CEO

 

 

Tel: +44 20 7117 2489

 

SP Angel Corporate Finance LLP (Nominated Advisor)

David Hignell / Charlie Bouverat

 

 

Tel: +44 20 3470 0470

 

 

finnCap Ltd (Joint Broker)

Christopher Raggett

 

 

Tel: +44 20 7220 0500

 

WH Ireland Limited (Joint Broker)

James Joyce/ Matt Chan (Corporate Finance)

Adam Pollock/ Jasper Berry (Corporate Broking)

 

Tel: +44 20 7220 1698

 

 

St Brides Partners Ltd (Financial PR)

Charlotte Page / Cosima Akerman

Tel: +44 20 7236 1177

 

About Savannah

 

Savannah is a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal and copper in Oman - together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto. The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of the communities we work with and our staff.

 

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".

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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