Member Info for Inbrackets

It’s always good to see the bird in the bush actually now be in the hand as outlined and expected, with no issues.

Even the payment trerms are interesting with payments on the drip over 5 years by which time by God, even the Portuguese Gov will have granted the 2nd easements and we should be in production with cash flow being generated based on the recovered spod price.

Message on X

https://x.com/savannahres/status/2001236760878080493?s=61&t=AJxxcVs_tbxqv1S84UYMow

Leads to this page on the SAV website

https://savannahresources.com/sustainability/energy-of-barroso/

Might smell good, but as always, where’s the meat.

With equal respect, I was just commenting on the lack of any activity on either the buy or the sell side. You may well be right about the lack of any enthusiasm or interest being generated but with a usual daily traded total of about 3m shares, the current tally of about 25,000 (net sell about 15,000), it’s barely twitching.

You never know, something might stand in as a defibrillator and spark some life into it.

Half way through the day and but 2 trades, of no significance.

Have we gone up the Christmas cul-de-sac already?

Process. Yes the DFS is needed, but what is holding that up….. the 2nd easements - a relatively clear run afterwards. Yes, I would agree that the Port Gov should explain what their problem is with granting them with any suggestions how to resolve the perceived problems, or putting a time scale to it. Silence is not really an adult position, even for a Government.

The 7am smell of roasted coffee and freshly baking bread may be enticing but ultimately that coffee and croissant need to be served up.

Completion of Aldeia purchase was supposed to be by year end, and they were supposedly expecting word on 2nd easements before year end as well. A combined announcement would be a bit of a Christmas present and get their Office Party off to a flying start.

In house broker Canaccord G have updated their guidance. They haven’t increased their target price or speculative buy status, but it starts to ‘fill out’ their view of the project.

“ This implies 3-5 years of additional production (if all M&I resources are eventually converted into reserves), which would potentially add 1-2p to our valuation. Additionally, the company has outlined a JORC-compliant exploration target of 35 to 62Mt at a range from 0.9% to 1.2% Li2O, which is incremental to the currently defined resource. We don’t expect this to be incorporated into the initial development (per the FS) but believe this to be an indication of ‘low hanging fruit’ for mine life extensions after start-up.”

Their initial note had a target SP of 8p but added that an extension of the life of mine would increase the valuation/sp.

2nd easements?

Any rational thought would conclude that the future of the project rests on the granting of these 2nd easements. The immense body of work to get us to this point and the immense amount of preparation already done to take things through the next phases Recape/decape/DFS/EIA and beyond just requires these easement (and three or so months for the completion of the permitted work).

All that to one side, as an exploration company, now gradually morphing towards a development and ultimately a mining company, it was pointed out to me that the market cap of Savannah, despite 15 or so years in the making, dead ends that it has travelled up and without having any income stream, is still worth more than they have ever raised.

All that is between the past and the future is a confirmation. “One small step…. One giant leap..” an all that.

The BOD and indeed the company can do whatever they can to organise everything else, but in regards to the permitting, they are supplicants and dependent.

Has the Portuguese gov been waiting for this, preferring not to sanction any further progress that might then have been scuppered or delayed and putting egg on their chins. It will be interesting to see how long it takes for them to react.

Portugal Resident’s take on today’s RNS.

https://www.portugalresident.com/ec-strategic-project-status-boosts-barroso-lithium-mine-savannah/

Is this an editorial line or is there no other contributor to PR who is prepared to take an alternative view to Natasha Done and make a more positive approach to the benefits that will come from living side by side. Some balance would not be a bad idea in the light of the constant rejection.

Now that EC have confirmed their strategic decision, does that provide additional cover for the Portuguese gov to sign off the second easements now.

The European Commission adopted the RESourceEU Action Plan earlier today, aiming to mobilise €3bn over 12 months to reduce the EU’s dependency on critical raw materials imports.

The Commission will revise the Water Framework Directive in Q2 2026 and integrate Strategic Projects under the Foreign Direct Investment Regulation. Water? Not something they are unduly short of in Galicia / Northern Portugal and something the 2nd easements are looking to confirm.

3bn over 12 months / Critical projects. - one might think SAV fit the bill in some capacity and EP said grants might feature during the Vox interview. Vulcan and EMH have.

Not sure what relevance AIM has for SAV these days, trading place for second hand shares but hardly of any practical use for capital raising. Dual list in Portugal retains a public list for those fearful of it being taken private, the Vox interview highlighted the desire for a long term future and another hobby horse, can’t see it being a negative when looking to take part in the auctions whenever they happen. Birth of an industrial force. I can see a name rebrand being on the cards.

Another positive explanation and description of the sunlit uplands on the other side of the invisible bridge, and no doubt there is confidence that they will cross it. But there was no mention of my current obsession and second easements.

Portugal Resident most recent article on the BLP,

https://www.portugalresident.com/barroso-lithium-mine-eu-doubles-down-in-spite-of-risks/

With the EU putting it back into the Portuguese Gov court at the back end of last week, are they now going to get on with it?

The 4m trade at 3.5 showed at 14.53 bu did not seem to be counted in the daily totals. Does that imply that it was a delayed report from Thursday, so could have been a purchase.

The funding announcement for 360m for EMH has been immediately positive for their sp. Bearing in mind the ownership structure and close proximity to the public purse, maybe not so surprising but it shows what might happen when things slot into place.

Will this prod the Portuguese Gov into action? Will they slip out news on the 2nd easements over the Christmas distraction period? Will we sitting here in January/Feb/Mar…..?

Might be the only good news that we get today as a positive general round up.

Meanwhile regarding the elephant, in a one line amongst many, they still “ continue to expect this approval during the current quarter.” That leaves about 20 working days……

I know that Portugal Resident has its slant on lithium in Portugal and never misses an opportunity but this recent article paints an unwelcome picture of the ongoing delays.

https://www.portugalresident.com/lithium-exploration-savannah-acquires-new-concession-wants-to-start-operations-in-2026/

Whilst there maybe the faint whiff of resignation, it needs to be delivered.