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Share Price: 3.55

Bid: 3.50

Ask: 3.60

Change: 0.05 (1.43%)

Spread: 0.10 (2.857%)

Open: 3.50

High: 3.55

Low: 3.50

Prev. Close: 3.50

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IN BRIEF: Savannah Resources raises GBP10 million in share placing

Wed, 21st Apr 2021 13:43

Savannah Resources PLC - resource development company with operations in Portugal, Mozambique and Oman - Raises GBP10.3 million through a 258 million share placing at 4 pence per share. The oversubscribed placing is via an accelerated bookbuilding process managed by Clarksons Platou Securities AS, finnCap Ltd and WH Ireland Limited. Shares are expected to trade on AIM on April 26.

"We are delighted by the interest shown in Savannah by the international equity capital markets," says Chief Executive Officer David Archer. "The GBP10.3 million raised combined with the USD6.4 million investment expected from Galp Energia SGPS SA in the Mina do Barroso project holding company, and our existing cash reserves, puts Savannah in a strong financial position as we continue to move towards the development phase at Mina do Barroso."

Current stock price: GBP4.01, down 21% Tuesday for GBP57.4 million market capitalisation

Year-to-date change: down 8.9%

By Will Paige; willpaige@alliancenews.com

More News

23 May 2014 09:45

Savannah Resources Starts New Drilling Campaign At Jangamo

LONDON (Alliance News) - Savannah Resources PLC Friday said it has started a new drilling programme at its Jangamo heavy mineral sands project in Mozambique. AIM-listed Savannah Resources said a 4,000 metre reverse circulation drilling programme is underway to define the prospectivity of Ja

9 May 2014 11:03

Savannah Resources Pretax Loss Widens On Impairments

LONDON (Alliance News) - Savannah Resources PLC Friday said its pretax loss widened in 2013 despite largely flat expenses, as impairment charges hit the company. The minerals exploration and development company, which is yet to post any revenues, said its pretax loss widened to GBP2.0 milli

1 May 2014 13:03

UK MIDDAY BRIEFING: Lloyds Kicks Off Bank Season With Improvement

LONDON (Alliance News) - Lloyds Banking Group kicked off the first-quarter bank earnings season Thursday, reporting that its pretax profit dropped by a third to GBP1.37 billion after last year was buoyed by gains on the sale of government securities.

However, its un

1 May 2014 11:27

UK WINNERS & LOSERS: Lloyds Atop FTSE 100 Risers; Weir Leads Fallers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WINNERS
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Lloyds Banking Group, up 4.8%. The banking group is the biggest riser in the

1 May 2014 11:13

Savannah Resources Up As It Pauses Facility Drawdown

LONDON (Alliance News) - Savannah Resources PLC saw its shares rise Thursday after it said it had paused drawing down funds from its facility with the Bergen Global Opportunity Fund LP for 30 days due to the general share market conditions for junior resources companies. In a statement, the

24 Apr 2014 10:16

Savannah Resources Receives Positive Results From Jangamo Survey

LONDON (Alliance News) - Savannah Resources PLC Thursday said it has received positive results from its ground magnetic survey at the Jangamo heavy mineral sands project in Mozambique. The minerals exploration and development company said the test, which was carried out over anomalous drill

17 Apr 2014 12:04

Savannah Resources Further Defines High Grade Zones At Jangamo

LONDON (Alliance News) - Savannah Resources PLC Thursday said further testwork has defined high grade zones of heavy minerals at its Jangamo heavy mineral sands project in Mozambique. The minerals exploration and development company said further analysis of samples collected on its 1,812 me

10 Apr 2014 16:16

Savannah Resources buys Gentor Resources

Savannah Resources' shares rose after saying it has agreed to buy Gentor Resources, which has interests in block five and block six copper projects in the Sultanate of Oman. The group has bought 100% of the subsidiary of Gentor Resources Inc., which has a 65% interest in block five and the right to

10 Apr 2014 13:36

Savannah Raises USD6.3M, Acquires Copper Projects

LONDON (Alliance News) - Savannah Resources PLC said Thursday that it had raised USD6.3 million in a private placing to fund its acquisition of interests in the Oman Copper Belt. It will place USD5.9 million in shares, and issue a USD400,000 unsecured convertible instrument to Bergen Global

3 Apr 2014 10:39

Savannah Resources Starts Ground Magnetic Study At Jangamo

LONDON (Alliance News) - Savannah Resources Thursday said it has started a ground magnetic survey at the Jangamo heavy mineral sands project in Mozambique. The minerals exploration and development company said a two-week ground geophysics programme is now underway at Jangamo in order to mor

28 Mar 2014 11:13

Alecto Acquires Additional Malian Gold Projects From Savannah Resources

LONDON (Alliance News) - Alecto Minerals PLC said Friday it has enhanced its existing gold portfolio in Mali with the acquisition of the total issued share capital of Savannah Resources PLC subsidiary, NewMines Holdings Limited. Aletco's existing gold portfolio is Mali includes its flagship

24 Mar 2014 13:10

Savannah Resources generates funds for Jangamo project

Diversified exploration group Savannah Resources has placed 20m share to raise funds for its 2014 exploration programme at Jangamo in southern Mozambique. The AIM-listed firm said it raised £1.5m before expenses after placing the shares at 7.5p each. The group recently completed a drill programme

24 Mar 2014 12:16

Savannah Resources Raises GBP1.5 Million In Share Placing

LONDON (Alliance News) - Savannah Resources PLC Monday said it has raised GBP1.5 million through the placing of 20 million shares at a price of 7.5 pence per share. The exploration and development company said it is now in a strong cash position of over GBP2.0 million following the placing,

24 Mar 2014 08:27

UK MORNING BRIEFING: Shares Open Mixed; Kentz Expects Strong 2014

LONDON (Alliance News) - Shares have opened mixed Monday despite a strong lead from Asian markets, as tensions in Ukraine continue to concern investors.

Kentz Corp said its pretax profit increased in 2013 driven by revenue growth at its Technical Support Services di

13 Mar 2014 12:47

Savannah Resources Confirms Broad Mineralised Zones At Jangamo

LONDON (Alliance News) - Savannah Resources PLC Thursday said follow-up analysis of samples at its Jangamo heavy minerals sands project in Mozambique have confirmed broad zones of heavy minerals. The exploration and development company said assay results confirm broad intersections of heavy

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