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HSBC upgraded to 'buy' as capital position impresses
HSBC upgrade plus Savannah Resources, Paddy Power Betfair and US election
Company
LON:SAV
Savannah Resources PLC is the owner of the Barroso Lithium Project, located close to key infrastructure in Northern Portugal which contains the most significant spodumene lithium resource in Western Europe. Following a positive scoping study that outlined a conventional operation producing 175,000t of spodumene concentrate per annum, Savannah is progressing with the development and environmental licencing of the Barroso Lithium Project. A definitive feasibility study is underway, and Portugal’s environmental regulator is evaluating Savannah’s Environmental Impact Assessment study on the project.
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HSBC upgrade plus Savannah Resources, Paddy Power Betfair and US election
Also covered: Armadale Capital, CloudTag, Ceres Power, European Metals, Gfinity, Kromek, Metal Tiger, Rare Earth Minerals, Savannah Resources, San Leon Energy, Telit, Venn Life
Sareum, Faron, WideCells, Abzena and Ergomed were among Monday's small cap highlights
Lodging the EIA is a milestone in developing the combined deposits as an integrated operation.
Major shareholder Al Marjan put its hand in its pocket to keep its stake at just below 30%, while the CEO and chairman also subscribed for shares
As our mining expert Alastair Ford pointed out, its been a long hiatus with no corporate activity of any real significance at the junior level for nearly seven years, but deals are now popping up.
The commercials remain broadly similar to the original agreement to bring together the projects, which are next to each other and are effectively component parts of the same deposit.
The junior is exploring for copper in Oman and has just extended the deadline for merging of its mineral sands property in Mozambique
FTSE 100 shares dug themselves out of a hole to close just softer on Friday after banks recovered from heavy falls on speculative reports that troubled Deutsche Bank's US fine may be reduced