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RNS Number : 6322X
Savannah Resources PLC
21 November 2014
 



 

 

 

 

Date: 21 November 2014

 

Savannah Resources Plc ("Savannah", "SAV" or "the Company")

 

Publication of Circular and Notice of General Meeting

 

Savannah Resources plc (AIM: SAV), the AIM listed exploration company, announces that, further to the Placing to raise approximately £1.3m announced today, it has published a Circular and notice of General Meeting seeking Shareholder approval in respect of proposed authorities to issue new Ordinary Shares, Options and Warrants over Ordinary Shares and the disapplication of pre-emption rights. The General Meeting will be held at 11.00a.m. on 8 December 2014 at the offices of RFC Ambrian Ltd, Condor House, 10 St. Paul's Churchyard, London, EC4M 8AL.

 

The Circular and Notice of General Meeting will be sent to Shareholders today and will be available today to view on the Company's website www.savannahresources.com.

 

Defined terms used in this announcement shall, unless the context otherwise requires, have the same meanings set out in the Circular.

 

**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 Broker)

RFC Ambrian Limited

Tel: 44 20 3440 6800

Felicity Winkles/ Charlotte Heap

St Brides Media & Finance Ltd

Tel: 44 20 7236 1177

 

Notes

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 three 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 19.7% 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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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