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Pin to quick picksSavannah Resources Share News (SAV)

Share Price Information for Savannah Resources (SAV)

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Share Price: 3.35
Bid: 3.30
Ask: 3.40
Change: -0.10 (-2.90%)
Spread: 0.10 (3.03%)
Open: 3.45
High: 3.45
Low: 3.35
Prev. Close: 3.45
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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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IN BRIEF: Lekoil to change name to Fenikso as reaches legal settlement

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EARNINGS UPDATES: Devolver Digital and Jangada swing to interim loss

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29 Jul 2022 14:02

Lekoil Chair Olapade Durotoye to take up role with Savannah Energy

(Alliance News) - Lekoil Ltd on Friday said Non-Executive Chair Olapade Durotoye plans to take up a "significant" role with Savannah Energy PLC in Nigeria.

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25 Jul 2022 11:27

Savannah Resources shares fall on land ownership lawsuit against it

(Alliance News) - Savannah Resources PLC on Monday said it is being sued by Covas do Barroso Baldios regarding 1.4% of the ownership of land of its Barroso lithium project in northern Portugal.

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6 Jul 2022 11:42

IN BRIEF: Savannah Resources shares fall as CEO departs

Savannah Resources PLC - London-based mineral resource development company - Announces that Chief Executive David Archer is stepping down with immediate effect after nearly 9 years. He will be succeeded on an interim basis by Dale Ferguson. Outgoing CEO says: "I am immensely proud to leave the company and the Barroso Lithium Project well positioned to be a major European supplier of this strategic raw material."

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21 Jun 2022 22:13

TRADING UPDATES: Coca-Cola HBC and Pendragon shareholders show ire

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

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8 Jun 2022 12:17

TRADING UPDATES: City Pub Jubilee boost; Fulham Shore fights inflation

(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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Omega Diagnostics Group PLCAGM
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DP Eurasia NVAGM
Gem Diamonds LtdAGM
Hiro Metaverse Acquisitions I SAAGM
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M&G Credit Income Investment Trust PLCAGM
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Parity Group PLCAGM
Petards Group PLCAGM
Safestyle UK PLCAGM
Savannah Resources PLCAGM
Third Point Investors LtdAGM
Woodbois LtdAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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30 Mar 2022 15:14

IN BRIEF: Savannah Resources partners with ABB on Barroso project

Savannah Resources PLC - London-based mineral resource development company - Signs memorandum of understanding with ABB Ltd in connection with a decarbonisation study for the construction and operations of the company's Barroso lithium project in Portugal.

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Savannah Resources strikes agreement with ABB

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Savannah set to defend litigation brought by Barroso parish

(Sharecast News) - Lithium-focussed resource developer Savannah said on Friday that its wholly-owned subsidiary Savannah Lithium has been joined as the counter-interested party in litigation brought by the Parish of Covas do Barroso in Portugal.

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