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RNS Number : 4740S
Savannah Resources PLC
24 September 2014


Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining


24 September 2014

Savannah Resources Plc

Issue and Allotment of Ordinary Shares


On 10 April 2014, Savannah Resources Plc (AIM:SAV) (the "Company") announced to the market a share purchase and convertible securities deed dated 10 April 2014 (the "Agreement"). Pursuant to the Agreement, on about 10 April 2014, the Company issued a convertible security with the nominal value of US$400,000 to Bergen Global Opportunity Fund, LP. The Company announces that on 23 September 2014 it issued 6,874,833 ordinary shares in a conversion of the convertible security in full. The Company has also issued, on 23 September 2014, 5,209,056 ordinary shares pursuant to the most recent monthly tranche draw down of US$303,080 under the Agreement (together, the "Relevant Shares").  Application has therefore been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 29 September 2014. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.


Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 179,634,269 ordinary shares with voting rights. This figure of 179,634,269 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure and Transparency Rules.



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 Broker)

RFC Ambrian Limited

Tel: 44 20 3440 6800

Felicity Edwards/ Charlotte Heap

St Brides Media & Finance Ltd

Tel: 44 20 7236 1177



Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, 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 has interests in 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, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits.


In addition, Savannah owns a 21.1% 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.

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