Last checked at 6 Aug 2020 07:00
6 August 2020
Savannah Resources Plc
('Savannah' or the 'Company')
Mina do Barroso Lithium Project Update
University of Minho Socio Economic Report available on Savannah website
Following on from the Company's RNS of 27 July 2020 regarding the key findings and recommendations made in a commissioned report (the "Report") from the University of Minho into the potential economic impacts of developing the Mina do Barroso Lithium Project ("Mina do Barroso", "Project"), the Report has now been uploaded to Savannah's website.
Available in Portuguese, or as an English translation, the full report and executive summaries can be found at on the following pages on the site:
· Presentations, Factsheets and Other Reports
http://www.savannahresources.com/investor-relations/presentations-and-reports/
· Mina do Barroso Lithium Project, Portugal
http://www.savannahresources.com/assets/mina-do-barroso/
David Archer, Savannah's Chief Executive Officer said, "We are happy to share the Report completed by Professors Cerejeira and Carballo-Cruz from the University of Minho. We believe their excellent work brings further clarification regarding the many positive benefits that Mina do Barroso could bring. Their quantitative and qualitative analysis shows that it is a project of significant importance, not only in terms of the local economy, but also for the national economy of Portugal, and as part of the European Commission's plans to create an end-to-end lithium value chain in Europe. We have always believed the Project could be a major force for good in the local area via the creation of jobs, by acting as a major new customer for other local businesses, through the payment of taxes, and by making direct contributions of finance and other resources to society through our Benefit Sharing Plan.
"The Report should help everyone to understand the scale of the contribution the Project, which we intend to develop in a sustainable and responsible manner, could make locally and also clarifies its significance to Portugal's national economy, and its potential as a catalyst for a much larger programme of industrial development based on Portugal's natural resources, particularly its lithium."
**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 and copper in Oman - 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".