Last checked at 14 Oct 2020 07:00
14 October 2020
Savannah Resources Plc
('Savannah' or the 'Company')
Appointment of Farview Solutions as Strategic Adviser
Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV), the resource development company, is pleased to announce the appointment of Farview Solutions as Strategic Adviser to Savannah to help guide the development path for the Mutamba Mineral Sands Project in Mozambique ('Mutamba' or the 'Project') and recommend associated strategic opportunities for the Company. Farview Solutions provide strategic advice and advisory services to the mineral sands, titanium pigment and industrial minerals industries. Bruce Griffin, the owner of Farview Solutions, will be primarily responsible for advising Savannah in relation to Mutamba.
David Archer, Savannah's CEO commented: "Bruce is one of the industry's most experienced executives and has a deep understanding of Mutamba from his time at TZ Minerals International Pty. Ltd. ('TZMI'), where he was the CEO, whilst it undertook the Scoping Study of the Project. Mutamba is one of the largest undeveloped mineral sands deposits in the world and Bruce will help Savannah define the best value adding development, commercial and corporate paths, both to help unlock the value of the Project and to sequence it into playing a major role in the production of titanium feedstocks for international industry."
About Bruce Griffin
Bruce is the owner of Farview Solutions, Commercial Director for Sheffield Resources Limited and a non-executive director of Titanium Corporation. He was formerly the Senior Vice President of Strategic Development of Lomon Billions Group, the world's third largest producer of high-quality titanium dioxide pigments. He has also held executive management positions in several resource companies, including Chief Executive Officer of TZMI, the leading independent consultant on the global mineral sands industry, a director of World Titanium Resources, a development stage titanium project in Africa, and Vice President of Titanium for BHP Billiton.
About Mutamba
Mutamba is located in Mozambique and contains one of the world's largest undeveloped mineral sands deposits comprising an Indicated and Inferred Mineral Resource of 4.4Bt, grading 3.9% total heavy minerals. The Project's granted 25-year Mining Leases cover an area of 537km².
Savannah is the operator of Mutamba, which is held in joint venture with Rio Tinto. Savannah holds a 20% interest in the Project and will increase this to 35% upon delivery of the Pre-Feasibility Study, which is currently underway, and ultimately to 51% upon delivery of a Feasibility Study.
Regulatory Information
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com or contact:
Savannah Resources PLC David Archer, CEO
| Tel: +44 20 7117 2489
|
SP Angel Corporate Finance LLP (Nominated Advisor) David Hignell / Charlie Bouverat
| Tel: +44 20 3470 0470
|
finnCap Ltd (Joint Broker) Christopher Raggett
| Tel: +44 20 7220 0500
|
WH Ireland Limited (Joint Broker) James Joyce/ Matt Chan (Corporate Finance) Adam Pollock/ Jasper Berry (Corporate Broking)
| Tel: +44 20 7220 1698
|
St Brides Partners Ltd (Financial PR) Charlotte Page / Cosima Akerman | Tel: +44 20 7236 1177 |
About Savannah
Savannah is a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto. The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of the communities we work with and our staff.
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".