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Pin to quick picksSavannah Resources Share News (SAV)

Share Price Information for Savannah Resources (SAV)

London Stock Exchange
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Share Price: 3.30
Bid: 3.20
Ask: 3.40
Change: 0.00 (0.00%)
Spread: 0.20 (6.25%)
Open: 3.30
High: 3.30
Low: 3.30
Prev. Close: 3.30
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TRADING UPDATES: URA orders Gravelotte parts; Kefi sustains progress

Wed, 06th Sep 2023 15:40

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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URA Holdings PLC - Africa-focused mineral exploration company - Says significant progress has been made at Gravelotte, its 74%-owned emerald mine in South Africa. Orders have been placed for a custom-made optical sorter following the completion of test work at Angelon Electronics Co Ltd in China. Notes that the costs for an optical sorter from Angelon are significantly cheaper than the costs of one from Germany. A primary crusher and primary sizing screen with associated conveyors and dewatering pumps, are all in the process of being sourced, acquired and installed into the current circuit. Says trial mining and processing activities could potentially re-start as soon as six to eight months from September, subject to schedule.

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Alien Metals Ltd - Australia-focused minerals exploration and development company - Says that exploration review of Pinderi Hills in Australia confirms potential for nickel and copper. Near surface results at the site include 5.2 metres at 2.1% nickel, 166 ounces of silver per tonne. Alien Metals plans to undertake focused exploration activities on additional base metal targets, and has commissioned detailed aerial reconnaissance over the Pinderi Hills area. Chief Executive Officer Troy Whittaker says: "Whilst our priority remains the development of the Hancock iron ore project, it is pleasing to see the detailed work by the geology team to continue focusing on valuable nickel, copper and other base metals targets that have been overlooked by previous explorers. The Elizabeth Hill silver mine is part of the greater opportunity the company must make in identifying significant new discoveries in the unique multi-commodity, mineral-rich province of the Pinderi Hills."

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Atlantic Lithium Ltd - Sydney-based, Africa-focused lithium exploration and development firm - Receives further assay results from the resource and exploration drilling programme underway at the Ewoyaa lithium project in Ghana, West Africa. These show high-grade infill drill intersections at the Ewoyaa South-2 deposit, designed to convert inferred to indicated resources. Additional intersections are reported at the Kaampakrom Ewoyaa Main and Ewoyaa North-West deposits, also outside of the current resource. Executive Chair Neil Herbert says: "A total of 18,500m of infill, extensional and exploration RC drilling has been planned for 2023. These programmes are intended to grow and improve the confidence of the Ewoyaa Resource, in turn, improving the economics of the project."

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Bezant Resources PLC - Botswana-focused copper and gold explorer and developer - Notes positive results of Phase Two metallurgical testing carried out by Wardell Armstrong International on a sample from its 100%-owned Kanye manganese exploration project in Botswana. Testing showed that both grind size and leaching temperature had minimal influence on the final manganese recovery. Says the Kanye manganese deposit demonstrates an excellent overall manganese recovery using moderate leaching conditions compared with benchmarked projects. Further metallurgical test work will be considered at a later stage of project advancement.

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Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Completes 13,000 metre drill programme at Jibal Qutman in Saudi Arabia. Trenching and diamond drilling to identify additional resources is ongoing, while metallurgical test work has been completed on oxide ore. Meanwhile, at Hawiah, the ongoing infill and expansion drilling campaign "continues to yield positive results". The programme is designed to upgrade the resource classification to allow for further ore reserves definition.

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Savannah Resources PLC- London-based lithium development company - Lauds progress at its Barroso lithium project in northern Portugal. On the topic of commercial arrangements, says it is in a strong negotiating position and has yet to commit to any offtake arrangements. Adds that, following the endorsement of the project by the Portuguese environmental regulator, the level of strategic partnership interest in the project has "notably" increased. Savannah is currently working to identify a shortlist of potential strategic partners which are willing to assist with the financing of the project's construction. It expects to provide an update on the project's commercial arrangements towards the end of the year.

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Severfield PLC - North Yorkshire, England-based structural steel group - Says that trading in the first five months of the year is in line with expectations, and that its cash and balance sheet position remains strong. Adds that it is pleased with the " continuing high quality of the UK and Europe order book", which was GBP479 million on September 1, down from GBP510 million on June 1. Is continuing to see some large project opportunities in the UK and in continental Europe, supported by the recent acquisition of Voortman Steel Construction. In India, the group's order book has increased to GBP170 million in September from GBP139 million in June. Looking ahead, says that the outlook "remains positive", and that "our businesses are well-positioned".

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By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Savannah Resources reassured by legal review as Barroso advances

(Alliance News) - Savannah Resources PLC on Tuesday reported continued progress on key workstreams, and "confidently" reaffirmed its legal position in response to the 'Operation Influencer' investigation in Portugal.

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5 Dec 2023 11:36

IN BRIEF: Savannah Resources drill programme on track at Barroso

Savannah Resources PLC - Lithium development company focused on the Barroso project in Portugal - Says it is on track with the first phase of its 2023/2024 drilling programme, despite a period of bad weather. Says that as of November 30, it has completed 24 of the planned 60 holes. Adds infill drilling for future JORC resource upgrades has been completed, with results to be reported "in due course."

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7 Nov 2023 18:18

Savannah Resources continues despite visit from Portuguese officials

(Alliance News) - Savannah Resources PLC on Tuesday said its work is continuing at the Barroso lithium project, whilst Portuguese investigating officials visited some of its sites.

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6 Nov 2023 18:06

IN BRIEF: Savannah Resources sees strong interest in Barroso project

Savannah Resources PLC - lithium development company focused on the Barroso project - Reports commercial interest in the project and its spodumene lithium offtake has been strong for a number of years. To quantify this interest, initiated a strategic partnering process in July, in which interested parties were invited to submit proposals outlining how they could assist Savannah with financing the project's development. Due to the high number of positive responses, appoints Barclays Bank PLC and Barrenjoey as joint financial advisers to lead on the next phase of the process.

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23 Oct 2023 13:33

Savannah Resources begins drilling at flagship Portugal lithium asset

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EARNINGS AND TRADING: Henderson Eurotrust net asset value per share up

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18 Sep 2023 16:13

IN BRIEF: Savannah Resources not in sale process despite media reports

Savannah Resources PLC - lithium development company - Denies reports from Portuguese press that it is in a sale process. Says it is not in a sale process regarding the Barroso lithium project nor the company itself. Reiterates that on September 6, it had said that it received "significant" commercial interest in the project for several years and that there has been additional interest since the completion of a new positive scoping study. "Savannah is focusing on identifying groups which are willing to assist with the financing of the project's construction and bring complementary skills or additional opportunities to a long-term partnership with Savannah," firm says.

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