Member Info for CleverSheep

Me too. A gift, really. Seriously there can be little doubt at this point that SAV is going to be a winner, albeit with bumps and delays along the path.

I guess this what happens when you have a fantastic product that (apparently) no-one wants to buy.

Kentan - The Yanks will not "get involved". SAV is not traded on any US exchange so it doesn't matter what time their exchanges open.

They would certainly have done their Due Diligence before increasing their stake and clearly found nothing to be too concerned about.

Thanks for the link, IB. A good summary article.

I agree that's it's all a political football at the moment, but just for my own interest I would like to know just where the ball is on the field at the moment!

For the record, my view is that the easements are a matter of when, not if.

I find it inconceivable that the Portuguese government, having promised financial backing, would allow the project to wither on the vine.

Add to that the EU backing (CRMA inclusion), German government backing (guarantee of loan) and pressure from heavy-hitting Portuguese investors (no doubt with high level connections), and I fail to see how this could NOT (eventually) go ahead.

I'm beginning to suspect that we have a more serious problem with the easements than just the famed glacial slowness of the Portuguese bureaucracy.

A quick summary of the timeline from past RNSs:

September 24, 2025 Interim Results

The Company applied for a second temporary land easement…All technical requirements for the approval have been met, and the process is *expected to conclude during Q4 2025*

Nov 26, 2025 Operational & sector update

The Company remains in close contact with the Portuguese Government ministry and agencies involved in approval of the temporary land access order …Savannah continues to expect this approval *during the current quarter*.

Jan 15, 2026, Project & Market update

The Company believes that the €110 million non-reimbursable State Grant awarded by the Portuguese State clearly demonstrates the national commitment to the Project's development and, hence, remains very confident that the approval will soon be received

Feb 26 2026, Project update

Savannah remains engaged with the Government ministry and agencies involved in the temporary land access process and will provide an update on this matter as required. The Company continues to expect this approval in the near term

This doesn't seem to me to be just bureaucratic inertia. We supposedly have the backing of the Portuguese government, our powerful Portuguese shareholders, and the company itself, yet we are now almost a QUARTER OF A YEAR behind the original estimate with no end in sight. I am forced to conclude that someone with some clout is actively trying to derail the land access process behind the scenes.

I would like to hear from the company exactly what, or who, is causing the blockage.

I would appreciate seeing the link to the source for this, but anyway "deep underground" and only just discovered are reasons not to panic over this.

So to summarise, for everyone’s benefit:

- Second easements are essential for ongoing progress to DFS

- Whilst work permitted by second easements is ongoing, company will work to secure permanent access where needed for unrestricted mining

- Securing permanent access will be preferably by agreed purchase but by compulsory purchase if necessary.

Either way, second easements is the next (arguably the last) block to establishing SAV as an actual miner, with all that entails.

With support from EU, German government and now strongly from Portuguese government, it seems unlikely that second easements will be allowed to get in the way.

Thank you buckeye for this clear explanation.

I would appreciate it if you would indulge me for one further follow-up question:

Do we not need to secure some sort of permanent access over these same parcels of land in order to have freedom to operate - in other words so that we can mine as and where we want to, once a decision to mine is made?

Thank you.

CS

Hi IB

Please could you offer some comment on the significance of the second easements? I've looked through the RNSs and can't find anything. To my mind, an easement is a temporary grant of access permission to perform a specific action - in this case, drilling for further samples. The easement itself does not confer any permanent possession or access - or does it? What rights do we have to the areas subject to the easements?

Thank you in advance for any help.

CS

Well put, Nimble.

I agree that the current share price depression is entirely due to the corresponding depression in the spod price which, as you say, is what our company value and consequent sp are based on.

I really wish that the conspiracy theorists on here who keep going on about "the MMs manipulating the share price to let the Portuguese buyers in cheap" and suchlike would kindly explain to rest of us poor ignorant souls:

- HOW exactly do they they do this?

- And more importantly, WHY do they do this? What's in it for the MMs who supposedly do that? How do they make their money by keeping the price down? Are you suggesting they get some kind of backhander from the Portuguese buyers as a reward? All of this would of course be highly illegal and would lead to censure of the companies involved and possible prison terms for the directors if found out. So there must be some pretty big incentive for them to take this risk - what is it? Finally, if you have any evidence of this activity why not share it, or better still take it direct to the FCA and put a stop to this activity for good.

In the latest SAV newsletter, reported by Reuters on 21 Feb:

LISBON, Feb 21 (Reuters) - China's CALB, one of the world's largest battery makers for electric vehicles, said on Friday it would invest 2 billion euros ($2.09 billion) in a gigafactory in Portugal that is expected to start production in 2028.

I think there may be another mechanism, which happened to me once with another AIM share.

If the NOMAD resigns and a replacement isn't appointed within X days, the company is automatically delisted.

Maybe there's time to set up an account with another (participating) broker. I'm with Hargreaves Lansdown - they ARE participating and I have found them always excellent in all aspects of my account.

Kentan

“ AMG, Slipstream and the 2 known Portuguese investors could all combine to buyout the rest “

You’re forgetting one important point. “The rest” would have to agree to be bought out. What price would you accept?

Agree completely, and what a relief to finally see some movement in the sp!

Not necessarily. Read the press release:

“ Importantly, this process will allow Northvolt to access new sources of funding, including approximately $145 million in cash collateral. In addition, one of Northvolt’s existing customers has committed to provide $100 million in new financing to support Northvolt’s business operations in the form of debtor-in-possession (DIP) financing, which is a specialized type of financing for businesses that are restructuring through a Chapter 11 process.

Northvolt Ett, the company’s flagship battery gigafactory in Skellefteå, Sweden, and Northvolt Labs in Västerås, Sweden will remain operational as Northvolt ramps up production to meet commitments to its customers. ”

So no answers to my questions then.

And while we're waiting, I'll add another one - what do you think AMG think about the share price being "held back" so Mr. Big can buy in at 12% less than they paid?

I lose patience sometimes with people saying ridiculous things like “the share price has been heavily manipulated for the past few months.. not up nor down, it's being held here for Mr Big to complete his accumulation.”

Would the people saying these things (or agreeing with them) please explain to the rest of us:

1. Who is doing this “manipulation”

2. How are they doing it?

3. What do they get out of it?

4. Why should they care whether or not Mr Big completes his accumulation?

5. If they can manipulate the price, why don’t they manipulate the price DOWN to make things even easier for Mr. Big?

6. How do they avoid staying out of jail or having their financial licenses withdrawn by the FCA for blatant fraud?

wait for my education.

Likewise, was hoping that this year would be the year it started to move. When I saw the RNS first thing I thought 20-25% drop this morning for sure, but in fact sp has held (so far). Guess there must have been enough good new to offset the bad. Still VERY disappointing to see the delay. No new car for Christmas this year!