Last checked at 27 Mar 2023 07:00
27 March 2023
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')
Barroso Lithium Project Update
Action Brought Against the Republic of Portugal by Parish Council Extinguished
Savannah Resources plc, the European lithium development company, confirms that the legal action brought against the Republic of Portugal by the Parish of Covas do Barroso (the "Parish Council"), which was announced on 4 February 2022, has been extinguished.
This follows the Mirandela Fiscal and Administrative Court ruling in February 2023 that the Portuguese State and the Ministry of Economy are not legitimate parties in this lawsuit. Therefore, the defendants (the Portuguese State, the Ministry of Economy) and counter-interested party (Savannah) have been acquitted of all requests made by the Parish Council. The period for the Parish Council to appeal has now expired.
Regulatory Information
This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").
Savannah - Enabling Europe's energy transition.
**ENDS**
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For further information please visit www.savannahresources.com or contact:
Savannah Resources PLC Dale Ferguson, CEO
| Tel: +44 20 7117 2489
|
SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker) David Hignell/ Charlie Bouverat (Corporate Finance) Grant Barker/Abigail Wayne (Sales & Broking)
| Tel: +44 20 3470 0470
|
RBC Capital Markets (Joint Broker) Farid Dadashev/ Jamil Miah
| Tel: +44 (0) 20 7653 4000 |
Camarco (Financial PR) Gordon Poole/ Emily Hall/ Fergus Young | Tel: +44 20 3757 4980 |
About Savannah
Savannah is the owner of the Barroso Lithium Project, located close to key infrastructure in Northern Portugal which contains the most significant spodumene lithium resource in Western Europe. Following a positive Scoping Study which outlined a conventional operation producing 175,000t of spodumene concentrate per annum, Savannah is progressing the development and environmental licencing of the Barroso Lithium Project.
The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".