Last checked at 24 Sep 2015 13:30
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
24 September 2015
Savannah Resources Plc
Change of Advisers
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), advises that it has appointed Northland Capital Partners Ltd ('Northland') as its Nominated Adviser and Beaufort Securities Ltd ('Beaufort') as its Broker with immediate effect.
David Archer, Savannah's Chief Executive Officer said today "Northland and Beaufort are trusted partners to natural resources companies and we look forward to working with them as we continue to advance our conditional joint venture with Rio Tinto for heavy mineral sands in Mozambique and our copper portfolio in Oman as part of our defined growth strategy of building a leading diversified, multi commodity, exploration and development company."
The Company will continue to retain RFC Ambrian in an advisory capacity.
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer | Savannah Resources plc | Tel: +44 20 7389 5019 |
David Hignell / Gerry Beaney (Nominated Adviser) | Northland Capital Partners Ltd | Tel: +44 20 7382 1100 |
Jon Belliss / Elliot Hance (Corporate Broker) | Beaufort Securities Ltd | Tel: +44 20 7382 8300 |
Felicity Winkles/ Charlotte Heap | St Brides Partners Ltd | Tel: +44 20 7236 1177 |
**ENDS**
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, exploration and development company.
Savannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploration project, and has agreed with Rio Tinto to form a joint venture in Mozambique to develop the combined Mutamba/Jangamo Project. On 31 December 2014 Savannah announced maiden, 65Mt Inferred Mineral Resource @4.2% total heavy minerals ("THM") at a 2.5% cut-off grade for Jangamo. The Mutamba, Dongane and Chilubane deposits have a combined exploration target of 7-12Bn tonnes at 3-4.5% THM (published in 2008).
Savannah has interests in three copper blocks 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, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold producer in a relatively short time frame. Together with its Omani partners, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits.