Last checked at 3 Jul 2014 07:00
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
3 July 2014
Savannah Resources Plc
Change of Adviser
Savannah Resources Plc (AIM:SAV) advises that it has appointed RFC Ambrian Limited ('RFC Ambrian') as its Nominated Adviser and broker with immediate effect.
David Archer, Savannah's Chief Executive Officer said today "RFC Ambrian is a trusted advisor to natural resources companies across the value spectrum from global majors to junior explorers. We look forward to working with RFC Ambrian as we continue to advance our prospective Jangamo heavy mineral sands project in Mozambique and potential copper interests in Oman as part of our defined growth strategy of building a leading diversified, multi commodity, exploration and development company."
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer | Savannah Resources plc | Tel: +44 20 7389 5019 |
James Biddle (Nominated Adviser) Charlie Cryer (Corporate Broking) | RFC Ambrian Limited | Tel: +44 20 3440 6800 |
Felicity Edwards/ Charlotte Heap | St Brides Media & Finance Ltd | Tel: +44 20 7236 1177 |
Notes
About Savannah
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity focussed exploration and development company. It has an 80% shareholding in Matilda Minerals Limitada which operates the Jangamo exploration project in a world class mineral sands province in Mozambique which borders Rio Tinto's Mutamba deposit, one of two major deposits Rio Tinto has defined in Mozambique, which collectively have an exploration target of 7-12Bn tonnes at 3-4.5% THM1 (published in 2008).
Savannah also has the right to acquire two copper projects in the highly prospective Semail Ophiolite Belt in Oman. The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper and high grade intercepts of up to 56.35m at 6.21% Cu, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper producer in a relatively short time frame. Together with its Omani partners, aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits.
In addition, Savannah owns an effective 20.9% strategic shareholding in Alecto Minerals Plc which provides Savannah with exposure to both the highly prospective Kossanto Gold Project in the prolific Kenieba inlier in Mali and also to the Wayu Boda and Aysid Meketel gold / base metal projects in Ethiopia for which Alecto has a joint venture with Centamin Plc. Under this joint venture, Centamin Plc is committing up to US$14m in exploration funding to earn up to 70% of each project.