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Savannah Resources PLC chief “optimistic” of gaining Rio Tinto JV approval

David Archer, chief executive of Savannah Resources PLC (LON:SAV) talks to Proactive about the extension to the deadline for sorting out the firm’s proposed Mutamba/Jangamo joint venture in Mozambique.

The JV is with mining giant Rio Tinto PLC (LON:RIO) and the two companies have agreed to extend again the long stop date for fulfilment of the conditions precedent of the joint venture from  March 31 to June 30, or even later if both parties agree in writing.

Archer says he is “very optimistic that everything is moving in the right direction” and expects to receive the final go-ahead shortly.

Quick facts: Savannah Resources PLC

Price: 2.8 GBX

Market: AIM
Market Cap: £36.37 m

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