RE: Some Abroad thoughts from Home22 Dec 2025 14:21
@Inbrackets
Savannah Resources (as an AIM-listed company) operates under strict regulatory disclosure rules, primarily AIM Rule 11 (prompt announcement of price-sensitive information) and the UK Market Abuse Regulation (MAR), which require disclosure of inside information "without delay" unless it qualifies for legitimate delay (e.g., to protect ongoing negotiations where premature disclosure could harm the company's interests).
Why No Detailed Updates on Government Dialogue?Ongoing discussions with the Portuguese government about the second tranche of easements fall into the category of sensitive negotiations. Revealing specifics—such as exact conversations, timelines hinted at by officials, or internal government thinking—could: Jeopardise the process by politicising it further (the project already faces local opposition and scrutiny).
Prejudice Savannah's position in those talks.
Risk leaking inside information that might move the share price prematurely or unfairly.
Companies often delay such disclosures under MAR if all conditions are met (e.g., confidentiality maintained, no leak risk, and it protects legitimate interests). Once a concrete outcome emerges—like approval, rejection, or a firm indication—the company must announce it immediately.
Latest Public Position Savannah's most recent updates (e.g., from September 2025 and earlier RNS) state: The second easement application is fully submitted. All technical requirements are met.
Approval is awaited from government level, previously guided as post-local elections (October 2025), into Q4 2025/Q1 2026.
No further RNS on this specific point has appeared in December 2025, and the Aldeia lease acquisition announcement (December 19, 2025) focuses on that positive milestone without mentioning easements. This silence suggests no material change yet—no approval, no rejection, just continued waiting. Why Shareholders Feel "in the Dark"It's frustrating, especially with the share price languishing in the low 3p range despite positives like the Aldeia deal, rising lithium prices, strong cash position post-raise, and EU Strategic Project status. Many long-term holders on forums (e.g., LSE/ADVFN) express similar irritation about the lack of granular updates.However, the company can't legally share play-by-play dialogue without breaching rules. They provide what they can in operational updates, broker notes, and presentations, but the bottleneck is external (government decision-making, known for bureaucracy in Portugal). Savannah has been transparent about the delay's impact: pushing DFS to H1 2026 and first production to 2028.In short, it's not that they're withholding for no reason—it's compliance with stock market rules designed to ensure fair, orderly markets. If something substantive happens in those discussions, you'll hear via RNS straight away. Until then, the "dark" is unfortunately part of the waiting game on regulatory approvals for strategic projects like this.
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