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RNS Number : 1022O
Savannah Resources PLC
27 January 2023
 

 

27 January 2023

 

Savannah Resources Plc

(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')

 

Lapse of period for entering into an Option Agreement for potential divestment of last remaining Mozambique Mining Concession

 

Savannah Resources, the European lithium development company, announces that further to its announcement on 30 December 2023, the period to conclude an Option Agreement with MRG Metals Limited for the Company's remaining mining concession in Mozambique has expired, and the parties have mutually decided not to proceed with entering into an Option Agreement.

Regulatory Information

This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

 

Savannah - Enabling Europe's energy transition.

 

**ENDS**Logo Description automatically generated with medium confidence

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For further information please visit www.savannahresources.com or contact:

 

Savannah Resources PLC

Dale Ferguson, CEO

 

 

Tel: 44 20 7117 2489

 

SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)

David Hignell/ Charlie Bouverat (Corporate Finance)

Grant Barker/Abigail Wayne (Sales & Broking)

 

 

Tel: 44 20 3470 0470

 

 

RBC Capital Markets (Joint Broker)

Farid Dadashev/ Jamil Miah

 

Tel: 44 (0) 20 7653 4000

Camarco (Financial PR)

Gordon Poole/ Emily Hall

Tel: 44 20 3757 4980

 

About Savannah

Savannah is the owner of the Barroso Lithium Project, located close to key infrastructure in Northern Portugal which contains the most significant spodumene lithium resource in Western Europe. Following a positive Scoping Study which outlined a conventional operation producing 175,000t of spodumene concentrate per annum, Savannah is progressing the development and environmental licencing of the Barroso Lithium Project.

 

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".

 

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