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Thanks for your support. Like you I'm looking at long term, let's hope it's good. Feel like checking sp again in 2021!
Jonners123. Putting money into an exploration company requires patience in relation to timescales for return, I am a LTH investor here, now well in profit, but in the past there were long periods when I had a paper loss. My research suggested it remained a viable company , so I added to my investment on the lows, and did top slice some at the peaks. I plan to retain my core investment for many years. Selling out to quickly is a sure way to lose money.
In terms of today's RNS, these licence submissions were very peripheral to my view of the core opportunities being progressed by SAV - so I am inconcerned.
Of course some folk will now try to make a big issue, but suspect the well researched will remain positive.
Before rushing off to “plummet” in the morning, do bother to read the RNS? Theses are exploratory plots with no exploratory work done I.e no cost has been incurred. They are peripheral to the main thrust of this project which has a 30 year licence and a value about to be greatly increased!
You would be discounting the tremendous asset that is Barossa with its existing licence and increasing resource, effectively a few years ahead of anything else in Portugal, indeed Europe.
The exploration licences are a sorry miss, but more important is the increased extraction permit along with the development of processing plants etc at MDB which hopefully we shall hear about.
It's going to plummet!
Have given up and happy to take the loss. Nothing ventured etc. Only a little so I'm happy - just like losing on the 3.15 at Redcar... Will not sell, it's a dead bet.
Portugese gov had indicated they were looking to go to auction off areas but this has a whiff of appropriation / compulsory 'purchase' order when they refuse the exploration applications to then confirm they will then be put up for auction. MDB to one side, does anyone know what was the consideration for the other areas applied for.
Hopefully we shall be in reasonable position for the areas of interest (Regioso?) and with the current apparent slump in prices, maybe the expected 4G style bonanza will not materialise for the P Gov. This was supposed to happen in June, or at least be promoted then.
Maybe they have been waiting on this before delivering the positive MDB results. THere must be a natural feel of disappointment from this knock, but should not detract from the fact that the spider is climbing again.
https://www.investegate.co.uk/savannah-resources--sav-/rns/non-core-exploration-licence-applications-update/201808151733469456X/
('Savannah' or the 'Company), the AIM quoted resource development company, was advised on 15 August 2018 that the Directorate General for Energy and Geology ('DGEG') has rejected six of a total of nine exploration licence applications in northern Portugal made by Savannah's subsidiary, Slipstream Resources Portugal LDA (''Slipstream''). The applications were pending at the time that Savannah acquired its shareholding in Slipstream in May 2017. These exploration licence applications are entirely separate to the Company's flagship Mina do Barroso Lithium Project, which has a 30-year* granted Mining Lease and continues to advance at pace with the Feasibility Study on track for completion towards the end of Q1 2019.
MM will prob take it down, but MDB looking highly likely to be over 20mt by year end, so for me it doesn't change anything.
You are right Brad, but chances are will cause a further dip in sp.
These applications were prior to our taking over of MDB, think the Govenment have seen how good the ground is, so out to tender. Didn't novo litio say similar a month or so back. Doesn't have any effect on MDB!
6 out of 9 of our exploration licence applications in Portugal have been rejected. Nor the kind of news we were expectin g.