SECTOR: MINING
SAVANNAH RESOURCES (SAV.L)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £81m
CURRENT PRICE – 9.75p#
ANALYST – DR RYAN LONG
Year-end Dec
2016A
2017A
Revenue (£m)
-
-
No forecasts provided
EBITDA (£m)
(1.8)
(2.8)
Adj. pre-tax Profit (£m)
(1.8)
(2.8)
Adj. EPS (p)
(0.46)
(0.53)
DPS (p)
-
-
Net Cash/(Debt) (£m)
0.7
1.2
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Nomad and provides commissioned research coverage to Savannah Resources and therefore this information should be viewed as a Marketing Communication.
Primero to complete Feasibility Study for Mina do Barroso
NORTHLAND VIEW
- Savannah Resources has appointed Primero Group, a diversified resource engineering services company, to lead the Feasibility Study for the development of the Mina do Barroso Lithium Project, located in Portugal.
- Primero is highly experienced in the assessment, design, delivery and operation of lithium projects and has worked with other lithium players such as Tawana Resources, Galaxy Resources, Pilbara Minerals and Piedmont Lithium. Primero also has experience of processing ceramics co-products, feldspar and quartz.
In our view, the Feasibility Study will be the most important piece of work completed to date by Savannah Resources, so it is encouraging to see the Company appoint a technical team with significant experience of developing similar spodumene deposits. The Feasibility Study is fully-funded and expected to be completed at the end of Q119.
COMPANY DESCRIPTION
Savannah Resources is an energy metals group with copper-gold projects located in Oman, lithium projects in Portugal, and a operates a mineral sands project in Mozambique that is a JV with Rio Tinto