SAV – DirectorsTalk Interviews https://www.directorstalkinterviews.com LSE London Stock Exchange PLC Company Interviews Thu, 26 Jul 2018 06:08:43 +0000 en-GB hourly 1 Savannah Resources Plc Significant Expansions to Grandao Extended Identified https://www.directorstalkinterviews.com/savannah-resources-plc-significant-expansions-grandao-extended-identified/412755461 Thu, 26 Jul 2018 06:08:43 +0000 https://www.directorstalkinterviews.com/?p=755461 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced further encouraging results from the ongoing reverse circulation and diamond drill programme at the Mina do Barroso Lithium Project, located in Portugal. A total of 192 holes for 16,222m have now been drilled to date across three primary targets of Grandao, Reservatorio ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced further encouraging results from the ongoing reverse circulation and diamond drill programme at the Mina do Barroso Lithium Project, located in Portugal. A total of 192 holes for 16,222m have now been drilled to date across three primary targets of Grandao, Reservatorio and NOA.

HIGHLIGHTS:

· Ongoing RC and DD at the Grandao and Grandao Extended Deposits has identified further significant expansions to the mineralised pegmatite bodies

· Drilling at Grandao Extended has identified a significant extension to the known mineralised pegmatites supporting the excellent potential for further increases in the existing 14Mt @ 1.1% Li₂O Mineral Resource Estimate

· Key results include:

Grandao and Grandao Extended

– 25.15m at 1.38% Li2O from 96.85m in 18GRARC76 diamond tail

– 41.35m at 1.30% Li2O from 103m in 18GRARC80 diamond tail

– 14.4m at 1.57% Li2O from 148.60m in 18GRARC81 diamond tail

– 47m at 1.35% Li2O from 66m in 18GRARC105

– 30m at 1.33% Li2O from 45m in 18GRARC106

· A second diamond drill rig is now on site to support the fast-tracked Feasibility Study, which is now underway and being undertaken by Perth based lithium specialist, Primero Group

· Phase 3 of the metallurgical test work programme continues to progress well

Savannah Resources Plc CEO, David Archer said: “The drill programme continues to produce outstanding results both in terms of widths and lithium grades. Zones in the main Grandao Deposit are thickening and drilling is also extending the deposit down dip, giving us confidence of the potential to increase the Project’s Mineral Resource Estimate.

“Mina do Barroso has developed at an exceptionally fast pace since the first hole was drilled on 24 July 2017. We have gone from a point of having no Mineral Resource Estimate to having made one of Europe’s most significant mineral discoveries of a mineral that is of vital and strategic importance to European industry.”

Grandao and Grandao Extended

A total of 142 RC and DD drill holes for 1,1935m have been completed and results for drill holes 18GRARC104-106, 18GRADD001-006, and diamond tails on 18GRARC076, 080-081 have now been received and returned further encouraging results (Tables 1 and Figure 2-3).

Drilling targeting the down dip extensions of Grandao Extended has met with significant success, identifying a further down dip extension of the known mineralisation in the order of 100m and other expansions to the areas of known mineralisation. Drilling has now confirmed that the orebody continues for at least 600m down dip and importantly the ore body remains open down dip with further expansions likely as the drilling programme continues.

Table 1. Summary of drill results for Grandao flat lying pegmatite using a 0.5% Li2O cut-off

Hole ID

Prospect

Northing

Easting

 

rL

Azimuth

Dip

EOH

From (m)

To (m)

Down hole

Grade

(Deg)

(Deg)

(m)

Interval (m)

% Li2O

18GRARC76

Grandao

4608073.00

601575.00

511.00

0

-90

176.30

96.85

122.00

25.15

1.38

18GRARC80

Grandao

4607984.00

601508.00

502.00

0

-90

155.20

103.00

144.35

41.35

1.30

18GRARC81

Grandao

4608007.00

601535.00

501.00

0

-90

173.30

114.00

140.15

26.15

0.87

148.60

163.00

14.40

1.57

18GRARC104

Grandao

4607810.00

601689.00

549.00

-68.5

280.00

138.00

57.00

67.00

10.00

1.27

82.00

93.00

11.00

0.88

101.00

105.00

4.00

1.34

18GRARC105*

Grandao

4608035.00

601693.00

537.00

-63

130.00

113.00

66.00

113.00

47.00

1.35

18GRARC106

Grandao

4608043.00

601697.00

525.00

-65

310.00

100.00

45.00

75.00

30.00

1.33

* Diamond tail required to fully test the pegmatite thickness

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Savannah Resources Plc Primero Group Appointed Primary Engineering Group for PFS https://www.directorstalkinterviews.com/savannah-resources-plc-primero-group-appointed-primary-engineering-group-pfs/412755280 Tue, 24 Jul 2018 06:12:38 +0000 https://www.directorstalkinterviews.com/?p=755280 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced that it has appointed experienced lithium consulting engineers Primero Group to lead the Feasibility Study for the development of the Mina do Barroso Lithium Project in Portugal. HIGHLIGHTS: · The Feasibility Study will build on the excellent outcomes of the Scoping Study ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced that it has appointed experienced lithium consulting engineers Primero Group to lead the Feasibility Study for the development of the Mina do Barroso Lithium Project in Portugal.

HIGHLIGHTS:

· The Feasibility Study will build on the excellent outcomes of the Scoping Study completed in June 2018, which confirmed Mina do Barroso has the potential to be a major European producer of spodumene (lithium)

· A mine and concentrator plant model will be further developed based around Mina do Barroso’s deposits for the production of a lithium concentrate with additional ceramic co-products

· Primero has an extensive track record in the assessment, design, delivery and operation of lithium projects globally and is currently partnered with Tawana, Galaxy, Pilbara Minerals and Piedmont

· Primero will also bring knowledge and understanding of specific ceramic related co-products such as feldspar and quartz and their processing

· Results of the Feasibility Study, which is fully funded following the Company’s recent £12.5 million (gross) fundraise, are expected to be available towards the end of Q1 2019

Savannah Resources plc CEO, David Archer said: “We are pleased to have commissioned Primero which is one of the global leaders in the evaluation, design and construction of hard rock, open-cut, spodumene mines like Mina do Barroso. Primero’s experience will be critical in guiding us towards our objective of being the first major producer of lithium in Western Europe by 2020.”

Scope of Work

The Feasibility Study will continue to develop Mina do Barroso to a level of detail adequate to support project financing. The study will cover the project setting, geology and resource definition, mining, metallurgy, processing, infrastructure, market review, capital and operating cost estimates, financial modelling, human resources, environmental, social aspects, project approvals, project risk review and project development plans.

Primero will take the lead role in the development of the Feasibility Study and will be supported by various sub-consultants that will provide specialist design services for specific areas of the project.

About Primero Group

Primero is a leading provider of diversified engineering services to the global resources industry, who specialise in the design, construction, operation and maintenance of mineral processing facilities and their associated infrastructure. Primero has multi-disciplinary engineering teams with a deep understanding of lithium projects and will apply this know-how to support the development of Mina do Barroso.

Primero brings valuable hard rock lithium experience to the Project, having been engaged on recent lithium projects in Australia, North America and South America at both the study and EPC project delivery level.

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Savannah Resources Plc Q&A: Mino de Barroso latest update (LON:SAV) https://www.directorstalkinterviews.com/savannah-resources-plc-qa-mino-de-barroso-latest-update-lonsav/412754983 Wed, 18 Jul 2018 11:26:50 +0000 https://www.directorstalkinterviews.com/?p=754983 Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the robust lithium intersections at Mino de Barroso, how this plays into the bigger picture and what investors can look out for over the coming months.   Q1: David, we saw on the news this morning ...

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Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the robust lithium intersections at Mino de Barroso, how this plays into the bigger picture and what investors can look out for over the coming months.

 

Q1: David, we saw on the news this morning that more robust lithium intersections have been found in your project in Portugal. Can you talk us through the highlights please?

A1: I think they certainly do underscore that Savannah Resources have the largest spodumene lithium resource in Western-Europe and the results themselves have been very encouraging, they go to emphasise that we continue to get very good widths and very good grades of lithium mineralisation.

So, these results mean we’ll be able to convert our exploration target to a resource in terms of bringing some of those tonnes from the exploration target over into a resource. It also means that we’re increasingly the categorisation of the resources at Mino de Barroso, so we should be able to move a lot of our current resources into the measured category which is a very important feature for our feasibility study.

 

Q2: What is the purpose of this drilling?

A2: Really to particularly work towards increasing the size of the resource and to increase the resource categorisation so this will be very very important information that will go towards the delivery of our feasibility study in the early part of next year.

 

Q3: As you’ve already mentioned, this is already the largest spodumene resource in the Western-Europe, how does this play into the bigger picture?

A3: I think, in the bigger picture, I suppose it’s within the European context and what this really means is there’s a material resource of lithium in Portugal that can anchor the European lithium value chains. So, strategically, this is a very very important resource for European industry, European car manufacturers are a vital element in the health of the overall European economy.

We believe that we can provide a resource platform that will help support the move of the European car manufacturers into the electric vehicle space. So, this project really punches above its weight and is strategically very valuable because of its European context.

 

Q4: Looking ahead, what work programmes or news flow can investors look forward to from Savannah Resources?

A4: I think it’s going to be a very busy second half to the year. We’ll be looking at resource upgrades in terms of our existing 14.1 million tonnes resource, increasing that further, we’ll also be looking to give further definition around exploration targets and we’ll be testing some of the other deposits on the mining lease. Of course, there’s certainly the potential to strike strategic partnerships with major industrial groups in the lithium value chain and in the immediate short-term, we’ll be looking to announce the formal kick-off of a full feasibility study for the project. So, a very full calendar of potential news items in the coming months.

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Savannah Resources Plc Enters into exclusive due diligence and option agreement https://www.directorstalkinterviews.com/savannah-resources-plc-enters-exclusive-due-diligence-option-agreement/412754910 Wed, 18 Jul 2018 06:21:01 +0000 https://www.directorstalkinterviews.com/?p=754910 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, announced today that it has entered into an exclusive due diligence and option agreement with Aldeia & Irmão, S.A., a private Portuguese company, with a view to acquiring a Mining Lease, once granted, over areas of land abutting the southern end of the Reservatorio Lithium ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, announced today that it has entered into an exclusive due diligence and option agreement with Aldeia & Irmão, S.A., a private Portuguese company, with a view to acquiring a Mining Lease, once granted, over areas of land abutting the southern end of the Reservatorio Lithium Deposit and adjacent areas to the Company’s Mina do Barroso Lithium Project, located in northern Portugal.

HIGHLIGHTS:

· Savannah has entered into an exclusive due diligence and option agreement for the potential acquisition of a three block Mining Lease for lithium, feldspar and quartz (once granted) totalling 2.94 km².

· Affords Savannah the opportunity to secure a potential extension to the Reservatorio Deposit, which has a current Mineral Resource Estimate of 3.2Mt at 1.0% Li2O for 32,000t, and to identify additional deposits with at least five known spodumene bearing lithium pegmatites occurring in the tenure area.

· Following the completion of due diligence, Savannah may exercise an exclusive option to acquire the mining lease, once granted.

· During the option period of approximately 12 months, Savannah can conduct exploration.

· All payments are to be staged with payments expected to be made from anticipated revenue generated from the Mina do Barroso mine, once developed.

· The acquisition would provide additional resource potential and further space to optimise the layout for any potential mine development.

Savannah Resources Plc CEO, David Archer said: “The option over the Aldeia ground will be accretive to the overall development of Mina do Barroso as it opens the opportunity to secure potential strike extensions to the existing Reservatorio Deposit whilst also offering the potential to discover additional deposits. These extensions and discoveries could, in turn, increase the overall resource of the Project, extend the current defined mine life of 11 years, and/or potentially increase annual production. In addition, this will give us additional flexibility in terms of configuring the layout of our site infrastructure and provides an opportunity to reduce the costs for the Project at the same time. We look forward to providing shareholders with further updates on this highly propspective development opportunity following the conclusion of due diligence.”

Geological Rationale

The Mining Lease Application for lithium, feldspar and quartz covers key areas of the newly identified lithium pegmatite bearing structural corridors adjacent to and within the vicinity of the Company’s C100 Mining Lease.

The Company believes that the areas covered by Aldeia’s Mining Lease Application could contain an extension of the known mineralisation associated with the Reservatorio pegmatite, as well as at least five other pegmatite bodies, which have been confirmed to host lithium bearing spodumene mineralisation by past academic studies. The Mining Lease Application consists of three blocks (A, B and C) each totalling 0.98 km² in area.

Savannah’s due diligence programme will include detailed geological mapping, rock chip sampling, as well as a detailed ownership, environmental and commercial review to fully characterise the opportunity and its overall potential.

Commercial Rationale

The key commercial aspects and potential value that the additional ground could provide include:

· Potential increase in the current Mineral Resource Estimate, which could provide the opportunity to extend the currently defined mine life of 11 years, as highlighted by the recent Scoping Study, and/or potentially increase annual processing rates.

· Expanding the site footprint could increase options for the positioning of infrastructure and reduce mining and infrastructure costs, particularly given the close proximity of the Aldeia Block B to the Reservatorio Deposit.

Key Commercial Terms

The Agreement provides the Company with a 70-day exclusive due diligence period, which will commence immediately, whereby Savannah will conduct technical, financial, and legal due diligence.

Subject to the Company receiving satisfactory results from due diligence, Savannah shall be entitled to trigger the commencement of an exclusive option to purchase the Mining Lease, once granted.

The Option expires on 25 June 2019 and, if exercised, Savannah would purchase the Mining Lease, once granted. The purchase price of the Option is €350,000, payable in instalments.

Upon Savannah providing a Commitment to Purchase, the parties shall have a maximum of five years to submit, and to have approved, a mining lease application over the ground. Upon approval of the Mining Lease, Aldeia will apply to register the Mining Lease in the name of a subsidiary of Savannah.

The total purchase price for the acquisition of the Mining Lease once granted is €3.25m, which would be paid in monthly instalments following the transfer of the Mining Lease to a wholly owned subsidiary of Savannah. The majority of these payments are expected to be made whilst the Mina do Barroso Project is in production and generating revenue.

Further Updates

The Company looks forward to providing shareholders with further updates regarding the Proposed Licence Area following the conclusion of its due diligence.

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INTERVIEW: Savannah Resources PLC More robust lithium intersections https://www.directorstalkinterviews.com/interview-savannah-resources-plc-robust-lithium-intersections/412754796 Tue, 17 Jul 2018 06:52:59 +0000 https://www.directorstalkinterviews.com/?p=754796 Savannah Resources PLC (LON:SAV) CEO, David Archer talks to DirectorsTalk about new robust lithium intersections which have been found in at the Mina do Barroso Lithium Project, Portugal. David talks us through the highlights, explains the purpose of the drilling, how this plays into the bigger picture and lets investors know what work programmes and ...

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Savannah Resources PLC (LON:SAV) CEO, David Archer talks to DirectorsTalk about new robust lithium intersections which have been found in at the Mina do Barroso Lithium Project, Portugal. David talks us through the highlights, explains the purpose of the drilling, how this plays into the bigger picture and lets investors know what work programmes and news flow they can expect to see going forward.

Savannah is a diversified resources group 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. We are committed to serving the interests of our shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.

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INTERVIEW: Savannah Resources PLC More robust lithium intersections Savannah Resources PLC (LON:SAV) CEO, David Archer talks to DirectorsTalk about new robust lithium intersections which have been found in at the Mina do SAV ...
Savannah Resources Plc Q&A: Cash Placing and Subscriptions for £11.5m (LON:SAV) https://www.directorstalkinterviews.com/savannah-resources-plc-qa-cash-placing-subscriptions-11-5m-lonsav/412754264 Mon, 09 Jul 2018 10:38:04 +0000 https://www.directorstalkinterviews.com/?p=754264 Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the cash placing and subscription for £11.5 million and what these funds will be used for.   Q1: David, we’ve just seen the news regarding the cash placing the and subscription for £11.5 million, can you ...

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Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the cash placing and subscription for £11.5 million and what these funds will be used for.

 

Q1: David, we’ve just seen the news regarding the cash placing the and subscription for £11.5 million, can you just talk us through the highlights?

A1: Yes, a cash placing of £11.5 million plus a Letter of Intent for £1 million from our major shareholder, the Al Marjan Group, so, it’s a very solid endorsement both by existing shareholders and I’m also pleased to report that the investor group also included tier 1 UK investments institutions.

So, from an overall sense, we’ve achieved one of our major objectives in institutionalising our register. I think this sort of marks a very important milestone in the development of Savannah Resources because it’s always been a well enunciated objective that we wish to go into a mid-tier British resources group.

 

Q2: What will Savannah Resources use the funds for?

A2: Well, we’re fast-tracking our Portuguese Mino de Barroso project towards production and we’re targeting a development decision in Q2 of 2019 so these funds will be principally directed towards completing the major steps which will towards that particular milestone. For example, the funding of a Definitive Feasibility Study of the mine development following the recently released very solid results from scoping study.

There’ll be further metallurgical test work, we’ll of course be continuing a very extensive resource drilling programme on the Mino de Barroso mining lease. So, the drilling will encompass both further resource drilling to further expand the known resources at Mino de Barroso and also a programme of infill drilling to define measured reserves which will then be fed into the full feasibility study.

Finally, the development of an owners’ team to conduct activities leading up to the development decision and then into construction.

So, certainly going to be a very busy time and of course, we’ll also be directing funds towards our high grade copper deposits in Oman and the continuation of the new Pre-feasibility study on the world-class Mutamba Heavy Mineral Sands project in Mozambique. So, we’ve got a very full agenda and with these funds, we’ve got a platform for continued growth in our company and continue to grow value, as have so demonstrably been successful in doing over the last 3 or 4 months.

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INTERVIEW: Savannah Resources Oversubscribed Fundraising https://www.directorstalkinterviews.com/interview-savannah-resources-oversubscribed-fundraising/412754096 Fri, 06 Jul 2018 06:23:23 +0000 https://www.directorstalkinterviews.com/?p=754096 Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about a Cash Placing and Subscriptions for £11.5 million. David talks us through the highlights, explains how the cash will be used and whats next for the company. Savannah Resources is a diversified resources group (AIM: SAV and SWB: SAV) with a portfolio of energy ...

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Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about a Cash Placing and Subscriptions for £11.5 million. David talks us through the highlights, explains how the cash will be used and whats next for the company.

Savannah Resources is a diversified resources group (AIM: SAV and SWB: 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. We are committed to serving the interests of our shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.

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INTERVIEW: Savannah Resources Oversubscribed Fundraising Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about a Cash Placing and Subscriptions for £11.5 million. David talks us through SAV ...
Savannah Resources Plc Cash Placing, Subscriptions for £11.5 million & Letter of Intent https://www.directorstalkinterviews.com/savannah-resources-plc-cash-placing-subscriptions-11-5-million-letter-intent/412754052 Thu, 05 Jul 2018 14:24:33 +0000 https://www.directorstalkinterviews.com/?p=754052 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, announced today that it has raised approximately £11.5 million cash through the oversubscribed placing of 92,535,277 new ordinary shares of 1p each and commitments to subscribe for 35,811,979 Ordinary Shares at a placing price of 9p per Ordinary Share with both new and existing investors. ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, announced today that it has raised approximately £11.5 million cash through the oversubscribed placing of 92,535,277 new ordinary shares of 1p each and commitments to subscribe for 35,811,979 Ordinary Shares at a placing price of 9p per Ordinary Share with both new and existing investors.

The Company has also received a letter of intent from its major shareholder Al Marjan Limited for a further £1 million pursuant to the Relationship Agreement, giving gross proceeds of £12.5 million. finnCap and Whitman Howard acted as Joint Bookrunners in respect of the Placing. The Placing Shares and the Subscription Shares are being issued and allotted pursuant to authorities granted at the Company’s last Annual General Meeting. In aggregate, the Placing Shares and Subscription Shares represent 15.5% of the Company’s enlarged share capital.

Highlights

· Raised gross proceeds of £11.5 million cash at 9 pence per share.

· Funds will predominantly be used to support the next stage of development for Savannah’s Mina do Barroso Lithium Project located in northern Portugal, providing funding to decision to mine.

· There was strong institutional demand with several material tier 1 institutional investors participating in the Placing.

· Following the positive results of the Scoping Study, as announced on 14 June 2018, the Company plans to commission a Feasibility Study over Mina Do Barroso with a view to reaching a decision to mine in early 2019.

David Archer, Chief Executive Officer of Savannah said today, “We are pleased to have completed this heavily oversubscribed fundraising and to be able to welcome a number of significant UK institutional shareholders to our register. The funds raised will allow us to continue to fast-track the development of our Mina do Barroso Lithium Project, which has the potential to be the leading European producer of spodumene lithium. The net funds raised will enable us to advance our project in Portugal through a Feasibility Study, with a view to making a final development decision early next year.”

A copy of this announcement and the Company’s latest presentation can be accessed on the Company’s website at www.savannahresources.com/investor-relations/presentations-and-reports

Use of Proceeds

The net proceeds of the Fundraise will primarily be used be used to advance the Company’s Mina do Barroso mine development project in Portugal through a fast-paced development schedule, which is expected to lead to a decision to mine in early 2019. Additionally, the funds will be used to progress its projects in Mozambique and Oman, which are currently undergoing mining lease applications, and for working capital purposes generally. More specifically: Mina do Barroso expenditures will be concentrated on feasibility and associated studies – drilling both to expand the Mineral Resources and to define measured reserves, further metallurgical test work, the establishment of an owners’ team and general working capital.

Letter of Intent

The Company, which is currently in a “closed period” that restricts Directors’ and applicable employees trading in the Company’s Ordinary Shares, has received a letter of intent in respect of subscribing on the same terms as the Subscription from a Director’s related party (the letter of intent has been issued pursuant to the previously announced Relationship Agreement between the Company and Al Marjan) once the Company has exited the “closed period”.

Voting Rights and Regulatory Information

Application will be made for 128,347,256 Placing Shares and Subscription Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM. It is expected that Admission will occur and dealings will commence at 8.00 a.m. on or around 11 July 2018.

Following Admission, the total issued share capital of the Company will consist of 829,962,796 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules.

Following the Fundraise, the percentage holds of certain significant shareholders will increase as per the table below:

Shareholder

Holding Prior to the Fundraise

Percentage of Ordinary Shares Prior to the Fundraise

Number of Shares Subscribed For

Holding Following Fundraise

Percentage of Ordinary Shares Following Fundraise

Al Marjan Ltd

197,151,478

28.1%

11,111,111

208,262,589

24.8%

Husain Salman Ghulam Al-Lawati

34,519,792

4.9%

7,500,000

42,019,792

5.0%

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Savannah Resources Plc Q&A with CEO David Archer (LON:SAV) https://www.directorstalkinterviews.com/savannah-resources-plc-qa-ceo-david-archer-lonsav/412753021 Mon, 18 Jun 2018 11:06:21 +0000 https://www.directorstalkinterviews.com/?p=753021 Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the scoping study results for the Mina de Barroso lithium project.   Q1: David, congratulations on releasing of the scoping study results at the Mina de Barroso lithium project in Portugal, can you talk us through ...

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Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the scoping study results for the Mina de Barroso lithium project.

 

Q1: David, congratulations on releasing of the scoping study results at the Mina de Barroso lithium project in Portugal, can you talk us through the key findings of the study?

A1: I think the main item is that of course that Mina de Barroso, which is the name of the project, really has significant potential to be a very major European producer of spodumene lithium.
I think what the scoping study has also shown is that this can be done with some very attractive economic outcomes for ourselves and it’s highlighted the fact the project, on a 100% own basis, has an NPV of around about US$356 million and really handsome IRR of 63%. The IRR is the internal rate of return and that’s a measure of the, if you like, investment appeal of the development and that 63% number is really very significant.

Savannah Resources are looking at a 1.3 million tonnes per annum open pit mine which will produce around 175,000 tonnes of spodumene concentrate per annum. Spodumene is the major internationally-traded lithium mineral and of course, Mina de Barroso sports the largest accumulation of spodumene lithium in Western Europe.

 

Q2: Since acquiring the project just over a year ago, you’ve delivered a maiden resource which has been followed up by two upgrades. Can you talk us through this and is there scope for further upside to these figures?

A2: Yes, certainly. We’ve maintained a very very fast pace of valuations at Mina de Barroso and, as you’ve mentioned, we’ve had three resource upgrades during the last 12 months and of course, and today we released the results of the scoping study. We’re intent on taking this forward as fast as we can towards overall production objective.

In terms of further upside, we’re continuing drilling at Mina de Barroso, we have two rigs on site at the moment, so we hope that we might be able to have some further increase the mineral resource at Mina de Barroso.

As well as that, we think there’s excellent potential to increase the mining rate as well, we’ve scoped it out at 1.3 million tonnes per annum, but we think we can increase that with further resource and some further project optimisations.

We’re also looking at identifying lower strip ratio ores for the latter years of the project and we think there are also some significant operational cost reductions to be made with the optimisation of the site features in terms of the layout etc. and the movement of materials around the site.

So, still excellent potential for this project.

 

Q3: It sounds like you’re talking about streamlining the project but what are the next steps in terms of development for the project?

A3: What we’re looking to do in the next month or two is to formally launch a full feasibility at the Definitive Feasibility Study that will take approximately 7 months to conclude and that will provide the final definition around the project. It will allow us to do a lot of the parallel work such as the definition and ordering of longer lead-time equipment and be doing further metallurgical test work studies and of course, the drilling programme will be going.

So, in overall terms, the tempo of Savannah Resources’ activities is going to increase markedly through to the end of this year.

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INTERVIEW: Savannah Resources Scoping Study Results https://www.directorstalkinterviews.com/interview-savannah-resources-scoping-study-results/412752849 Thu, 14 Jun 2018 06:45:09 +0000 https://www.directorstalkinterviews.com/?p=752849 Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about the release of the Scoping Study results on the Mina do Barroso Lithium Project in Portugal. David talks us through the key findings of the study, the potential for further upside and the next steps in terms of development for the project. Savannah Resources ...

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Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about the release of the Scoping Study results on the Mina do Barroso Lithium Project in Portugal. David talks us through the key findings of the study, the potential for further upside and the next steps in terms of development for the project.

Savannah Resources Plc is a diversified resources group 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 (LON:RIO). We are committed to serving the interests of our shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with. You can read the full announcement here : https://www.directorstalkinterviews.com/savannah-resources-plc-scoping-study-shows-solid-basis-fast-track-feasibility-study/412752835

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INTERVIEW: Savannah Resources Scoping Study Results Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about the release of the Scoping Study results on the Mina do Barroso Lithium SAV ...
Savannah Resources Plc Scoping Study Shows Solid Basis to Fast Track to a Feasibility Study https://www.directorstalkinterviews.com/savannah-resources-plc-scoping-study-shows-solid-basis-fast-track-feasibility-study/412752835 Thu, 14 Jun 2018 06:10:01 +0000 https://www.directorstalkinterviews.com/?p=752835 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced the results of its Scoping Study undertaken on the Company’s 75% owned Mina do Barroso Lithium Project, located in northern Portugal (Figure 1). To view the press release with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/3422R_1-2018-6-13.pdf   KEY ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced the results of its Scoping Study undertaken on the Company’s 75% owned Mina do Barroso Lithium Project, located in northern Portugal (Figure 1).

To view the press release with the illustrative maps and diagrams please use the following link:

http://www.rns-pdf.londonstockexchange.com/rns/3422R_1-2018-6-13.pdf

 

KEY FINDINGS OF SCOPING STUDY (ON 100% PROJECT BASIS)

 

·    Confirms that Mina do Barroso has the potential to be a major European producer of spodumene lithium

·    Demonstrates robust project economics with the potential to deliver substantial shareholder value

·  Project considered to be of low technical risk with open pit mining and conventional processing combining Dense Media Separation (‘DMS’) and flotation circuit to produce a spodumene concentrate for export sale

·    Excellent base case pre-tax NPV8 of US$356m and IRR of 63%

·   Strong outcomes based on a Mining inventory of 14.42Mt at 1.07% Li₂O and average annual run-of-mine production of 1.3Mtpa, over 11 years

·    Average annual production of ~175,000tpa of spodumene concentrate at 6% Li₂O

·    Life of Mine (‘LOM’) EBITDA of US$805m with payback period of 1.7 years

·    Average EBITDA of US$72m per annum

·    LOM revenue of US$1,555m

·    Strip ratio of 1.6:1 (waste to ore) for first four years, 5.2:1 for LOM

·   Average LOM C1 Cash Operating Cost of US$271 per tonne of concentrate (CIF China)

·  Initial CAPEX of US$109m (including feldspar and quartz circuit, and excluding contingencies)

·    Solid basis to fast track the Project towards a Feasibility Study

·    Fast tracked development could see the Project producing concentrate in Q1 2020

 

 

Opportunities for Growth and Optimisation

 

·    Current scenario is considered as a base case, with significant opportunity to expand and improve the Project through further Mineral Resource increases and further project definition and optimisations

·    Expansion of the current Mineral Resource base is likely to provide a significant opportunity to expand mine life and potentially increase annual processing rates

·    Expanding the site footprint will potentially improve infrastructure options and reduce mining and infrastructure costs

·    Replacing higher strip ratio ore in the later years of the current mining schedule to reduce average mining costs and footprint of any potential development

·    Review and optimisation of the Project’s CAPEX requirement

·    Metallurgical optimisation to potentially increase spodumene recovery rates from 80%

 

Savannah’s CEO, David Archer said: “The Scoping Study highlights the robust features and outstanding investment appeal of the Mina do Barroso Lithium Project with a very high-IRR and strong cash generation, even with a conservative spodumene prices. This is matched by an attractive initial CAPEX estimate of US$109m, which includes the circuit for feldspar and quartz. The Project’s cash costs put it at the lower end of the spodumene lithium cost curve.  We believe these results show that we are on track to become a low-cost producer of quality spodumene lithium concentrate by early-2020.

 

“There is exponential growth across the lithium supply chain as the industry gears up for transformational change to meet demand from the automotive and energy storage sectors, with Bloomberg New Energy Finance recently reporting that the transport sector is fast becoming the main driver of demand for lithium-ion batteries, overtaking consumer electronics for the first time this year.  This is a great time to be bringing a new lithium mine into development.

 

“Since acquiring the Project just over a year ago we have achieved an enormous amount, having delivered not only a maiden Mineral Resource Estimate but two major Mineral Resource Estimate upgrades with the current estimate at 14Mt at 1.1% Li₂O, and now, a Scoping Study. We are committed to maintaining this pace as we continue to fast-track towards production, and believe significant further upside exists, with excellent potential to increase the Mineral Resource Estimate and the mining rate, schedule lower strip ratio ores in the latter years of the Project and optimise site operational features to further lower the cost of production and increase the value of the Project.

 

“Mina do Barroso is developing fast and it is clear that it will be a key feature in the up-stream part of the European lithium value chain and will help to drive European lithium independence.”

A video of the Company’s Mina do Barroso Lithium Project is now available on the Company’s website at www.savannahresources.com.

 

Figure 1. Mina do Barroso Project Summary Map (source: Company information)- see PDF

 

Executive Summary

 

The Mina do Barroso Lithium Project is located in northern Portugal near the town of Boticas and around 145km by road from the deep-water port of Leixões near the city of Porto. The object of the Scoping Study was to produce a preliminary base case development centred on the defined Mineral Resource Estimate of 14Mt at 1.1% Li₂O, using conventional processes to produce a marketable Li₂O concentrate to demonstrate the potential economics of the Project. Material assumptions and key metrics for the Study are presented in Table 1.

 

 

Table 1. Material assumptions and key metrics (100% Project Basis)

Outcome:

Parameter

Unit

Base Case

Upside Case

Initial CAPEX (excluding contingencies)

US$ M

109

109

Average LOM C1 Cash Operating Cost**

US$/t conc

271

274

Average Years 1-4, C1 Cash Operating Cost**

US$/t conc

210

212

LOM Revenue

US$ M

1,555

1,783

LOM Operation Expenditure

US$ M

553

553

LOM EBITDA

US$ M

805

1,019

Annual EBITDA

US$ M

72

91

Pre-Tax NPV8

US$ M

356

474

Pre-Tax IRR

%

63.2

68.2

Pre-Tax Payback Period

Years

1.7

1.7

Post-Tax NPV8

US$ M

241

321

Post-Tax IRR

%

48.6

53.2

Post-Tax Payback Period

Years

2.1

2.1

Input:

Parameter

Unit

Base Case

Upside Case

Proposed Start of Construction

Date

Q2 2019

Duration of Construction

Months

9 – 10

Start of Production

Date

Q1 2020

Potential Mine Life

Years

~11yrs

Target LOM Ore Mined:

Mt

14.42

Indicated Resources

%

50

Inferred Resources

%

38

Exploration Target *

%

12

Annual Ore Throughput

Mtpa

1.3

Average LOM Strip ratio (waste to plant feed)

w:o

5.2:1

Average Years 1-4 Strip ratio (waste to plant feed)

w:o

1.6:1

Average Feed Grade

% Li2O

1.07 (1.02 diluted)

Plant Li₂O Recovery

%

80

Potential Annual 6% Spodumene Production

tpa

~175,000

Feldspar Production

tpa

~276,000

Quartz Production

tpa

~173,000

Low Grade Bulk Pegmatite (LOM)

Mt

2.7

Government Royalty rate (lithium concentrate)

%

3

Average LOM Feldspar Price

US$/t

39

Average LOM Quartz Price

US$/t

33

Average LOM 6% Spodumene Concentrate Price

US$/t

685

800

 

*Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature, there has been insufficient exploration work to estimate a mineral resource and it is uncertain if further exploration will result in defining a mineral resource. As such, potential investors should not rely upon this Exploration Target as indicative of a mineral resource and should not base their investment decision, in whole or in part, on such Exploration Target.

 

** C1 Cash Operating Costs include all mining, processing, transport, shipping/freight, corporate, administration, marketing and royalty costs, and are net of by-product credits.

The Mina do Barroso Scoping Study is based on a mine and concentrator only development (Figure 2)for the production of spodumene concentrate for sale to the export market, as well as investigating the sale of low-grade pegmatite material and the production of quartz and feldspar co-products, which offer additional revenue potential. The Project will use contractor mining and fleet. In addition, the Project has been designed to address its sustainability and environmental features which have been optimised by recovering co-products from the feed and by dry stacking tailings, eliminating the need for a tailings dam and reducing the overall footprint of the operation.

 

Figure 2. Mina Do Barroso Lithium Project Conceptual Mining Site Layout (source: Company information) – see PDF

 

The Scoping Study developed flowsheet options for a combined DMS and flotation circuit for the recovery of spodumene with tails thickening and dry stack (Figure 3). Low-grade pegmatite material that did not form part of the concentrator feed was quantified so that the opportunity of selling this material can be evaluated. The opportunity of producing both quartz and feldspar co-products from the tailings for the local ceramics industry was also investigated.

 

Figure 3. Simplified Concentrator Flowsheet (source: Company information) – see PDF

 

The Project’s NPV was calculated on a 100% project basis, discounted at 8%, and has been estimated via cash flow modelling. The deterministic sensitivity analysis of the Base Case NPV estimates have been calculated on a range of -20% to +35%. These estimates accommodate fundamental uncertainties at the scoping level of study and will be refined through feasibility level studies. The sensitivity analysis was undertaken on all of the key inputs to arrive at a range of project NPV’s for any given sensitivity (concentrate price, initial CAPEX, operation expenditure, and processing concentrate recovery rates). The sensitivity analysis is included in the Sensitivities section in Appendix 1. The NPV is most sensitive to concentrate price and recovery rates. The NPV is less sensitive to initial CAPEX and operation expenditure.

 

An analysis of the requirements to fast track the Project into production was also conducted and concluded that the Project could be potentially brought into production in Q1 2020. A summary of the proposed time line is provided in Figure 4.

 

Figure 4. High level Project Execution Plan – See PDF

 

An analysis of publicly available information indicates that the proposed Mina do Barroso operation will be at the lower end of the spodumene lithium cash costs curve based on published C1 cash operating costs (Figure 5) indicating that the Project is very competitive on a global basis when compared to other similar projects*.

 

Figure 5. C1 Cash operating costs of lithium pegmatite projects (source: publicly available information) – See PDF

 

*Reasonable care has been exercised in this comparison, but it is noted that there may be minor differences on the inclusion of certain costs by peers, in particular Savannah has included royalty costs but some peers may not have done.

 

The current scenario is considered as base case model, with significant opportunity to expand and improve the Project through further resource expansions, project definition and optimisations:

 

·    Expansion of the resource base (Table 2) is likely to provide significant opportunity to expand mine life and potentially increase annual mining and processing rates. The current combined Mineral Resource Estimate and Exploration Target of 22-26Mt at 1.0% to 1.2%Li₂O suggests that there is significant potential to further expand the resource base and improve the overall financial case for the Project

 

Table 2. Combined Resource Estimate and Exploration Target for the Mina do Barroso Project

Mineral Resource Estimate and Exploration Target for Mina do Barroso

  Deposit

Tonnes (Mt)

Li2O%

Li2O Tonnes

Grandao

10.3

1.1

111,600

Reservatorio

3.2

1.0

32,000

Noa

0.5

1.2

5,600

Total Inferred Mineral Resources

14.0

1.1

149,200

Exploration Target *

8-12

1.0-1.2

Total Current Project Target

22-26

1.0-1.2

 

*Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature, there has been insufficient exploration work to estimate a mineral resource and it is uncertain if further exploration will result in defining a mineral resource. As such, potential investors should not rely upon this Exploration Target as indicative of a mineral resource and should not base their investment decision, in whole or in part, on such Exploration Target.

 

·    The Mina do Barroso Project site is quite hilly, which presents some logistical challenges for the Project. Securing further land and expansion of the current Mining Lease to enable the re-design of the proposed site footprint would provide a significant opportunity to improve infrastructure options and hence reducing mining and infrastructure costs for the Project.

·    The last four years of the current mining schedule utilises high-strip ratio ore and a key focus will be to replace this in the schedule with more near surface, low-strip ratio ore which is likely to significantly reduce the overall mining costs incurred in these years and the overall footprint of any potential development.

 

Competent Persons

 

The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

 

The Information in this report that relates to Mineral Resources is based on information compiled by Mr Paul Payne, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy.  Mr Payne is a full-time employee of Payne Geological Services.  Mr Payne has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.  Mr Payne consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

 

The scoping level mining assessment of the Mino Do Barroso Deposit has been completed by Mr Nigel Spicer who is a Member of the Australasian Institute of Mining and Metallurgy and Chartered Engineer (IOM3). Mr. Spicer has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Spicer is the principal of Minesure Pty Ltd and is a consultant to Savannah Resources Plc and consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

 

It should be noted that as the Mining assessment has been conducted at a scoping level no Ore Reserves are being reported for the Mina do Barroso Deposit.

 

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Savannah Resources Plc Letters of No Objection Received from all Eight Ministries https://www.directorstalkinterviews.com/savannah-resources-plc-letters-no-objection-received-eight-ministries/412751017 Mon, 14 May 2018 06:27:30 +0000 https://www.directorstalkinterviews.com/?p=751017 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced the issuance of letters of no objection from all eight Ministries for both the Mahab 4 and Maqail South mining licence applications. Savannah is a 65% shareholder in the Omani company Al Fairuz Mining LLC, the holder of the Block 5 exploration ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced the issuance of letters of no objection from all eight Ministries for both the Mahab 4 and Maqail South mining licence applications. Savannah is a 65% shareholder in the Omani company Al Fairuz Mining LLC, the holder of the Block 5 exploration licence which includes these two high-grade copper deposits.

HIGHLIGHTS:

· Letters of approval or “No Objection” received from all eight Ministries for the Maqail South and Mahab 4 Mining Licence applications

· Excellent progress towards the grant of mining licences for the first two of a planned series of high-grade copper mine developments in Oman

· Savannah will now seek to conclude the licensing process with the Public Authority of Mining (‘PAM’) for the issuance of the two Mining Licences

Savannah Resources plc CEO, David Archer said: “We are delighted that the Maqail South and Mahab 4 mine developments have each now obtained all eight Ministerial sign-offs as we seek to conclude the mine licensing process with PAM.

“In light of the very favourable copper price environment and strong interest from potential off-takers for high-quality copper concentrate, we are excited to be moving closer to being the first new copper mine development in Oman for a number of years and look forward to finalising the licensing process with PAM.

“Alongside our licensing progress, we have been participating in the government sponsored Tanfeedh Labs sessions, which have provided an excellent opportunity to bring together all stakeholders related to the mining industry in Oman and provided an industry sounding board for the proposed new mining law in Oman, which is moving towards adoption and is focussed on making Oman’s mining environment more attractive to investors and supporting the development of the industry in-country. This is something we are of course very supportive of as we believe it is an opportune time to be bringing two new mines on-stream in Oman.”

The process for permitting mining activities in Oman is administered through the PAM. Upon submission of the mining licence application, approval or (no objection) is required from eight Ministries and PAM for the licence to be granted. Approvals or ”no objection” letters have now been obtained from all eight of the required ministries for the Maqail South and Mahab 4 applications. Discussions are now underway with PAM to move towards the award of mining licences.

A summary of the Ministries and their approval status is given in Table 1.

Table 1. Approval Status of Mining Licence Applications

Ministry

Status (Mahab 4)

Status (Maqail South)

Ministry of Defence

No objection received

No objection received

Royal Oman Police

No objection received

No objection received

Ministry of Culture and Heritage

No objection received

No objection received

Ministry of Tourism

No objection received

No objection received

Ministry of Environment and Climate Affairs

No objection received

No objection received

Ministry of Water Resources

No objection received

No objection received

Ministry of Interior

No objection received

No objection received

Ministry of Housing

No objection received

No objection received

Public Authority of Mining

Pending

Pending

 

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Market Risers: Savannah Resources Plc, Scottish Mortgage Investment Trust PLC, Standard Chartered PLC, Veltyco Group PLC https://www.directorstalkinterviews.com/market-risers-savannah-resources-plc-scottish-mortgage-investment-trust-plc-standard-chartered-plc-veltyco-group-plc/412750892 Thu, 10 May 2018 12:49:00 +0000 https://www.directorstalkinterviews.com/?p=750892 Stock in Savannah Resources Plc with ticker code: LON:SAV has moved up 4.6% or 0.29 points during today’s session so far. Investors have remained optimistic throughout the trading session. The periods high has already touched 6.49 dipping to 6.3. The total volume of shares exchanged so far has reached 428,027 with the daily average number ...

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Stock in Savannah Resources Plc with ticker code: LON:SAV has moved up 4.6% or 0.29 points during today’s session so far. Investors have remained optimistic throughout the trading session. The periods high has already touched 6.49 dipping to 6.3. The total volume of shares exchanged so far has reached 428,027 with the daily average number around 1,123,638. The 52 week high is 6.92 which is 0.72 points in difference to the previous days close of business and a 52 week low sitting at 4.63 which is a variance of 1.57 points. The market capitalisation is now £45.28m at the time of this report. All share prices mentioned for this stock are traded in GBX. Mcap is measured in GBP. This article was written with the last trade for Savannah Resources Plc being recorded at Thursday, May 10, 2018 at 1:30:16 PM GMT with the stock price trading at 6.49 GBX.

 

 

Shares in Scottish Mortgage Investment Trust PLC ticker code: LON:SMT has climbed 1.18% or 5.85 points throughout the session so far. Investors have stayed positive while the stock has been in play. The period high was 506.5 dropping as low as 500.5. The total volume traded so far comes to 1,214,262 with the average number of shares traded daily being 3,472,803. The 52 week high for the share price is 506.5 some 8.7 points difference from the previous days close and putting the 52 week low at 378 which is a difference of 119.8 points. Scottish Mortgage Investment Trust PLC now has a 20 SMA at 470.95 with a 50 day simple moving average now of 462.63. Market capitalisation for the company is £7,040.80m at the time of this report. The share price is in Great British pence. Mcap is measured in GBP. This article was written with the last trade for Scottish Mortgage Investment Trust PLC being recorded at Thursday, May 10, 2018 at 1:38:31 PM GMT with the stock price trading at 503.65 GBX.

 

 

Shares of Standard Chartered PLC found using EPIC: LON:STAN has moved up 1.39% or 10.4 points during the course of today’s session so far. Traders have remained positive while the stock has been in play. The period high was 764 dipping to 750.5. Volume total for shares traded during this period was 1,884,578 whilst the daily average number of shares exchanged is just 9,382,042. The 52 week high price for the shares is 864.2 equating to 115 points in difference on the previous days close and a 52 week low being 688.6 which is a difference of 60.6 points. Standard Chartered PLC has a 20 SMA of 755.51 and also a 50 day MA at 754.1. The market capitalisation is now £24,760.80m at the time of this report. The share price is in GBX. Mcap is measured in GBP. This article was written with the last trade for Standard Chartered PLC being recorded at Thursday, May 10, 2018 at 1:38:33 PM GMT with the stock price trading at 759.6 GBX.

 

 

The trading price for Veltyco Group PLC ticker code: LON:VLTY has climbed 4.92% or 3.25 points during today’s session so far. Market buyers have remained optimistic during the trading session. Range high for the period has seen 69.25 meanwhile the session low reached 64.75. The total volume of shares traded by this point was 40,449 while the daily average number of shares exchanged is 102,198. A 52 week high for the stock is 101.25 some 35.25 points in difference to the previous days close of business and a 52 week low sitting at 48.6 which is a variance of 17.4 points. The market capitalisation is now £51.36m at the time of this report. The currency for this stock is GBX. Market cap is measured in GBP. This article was written with the last trade for Veltyco Group PLC being recorded at Thursday, May 10, 2018 at 1:09:00 PM GMT with the stock price trading at 69.25 GBX.

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Savannah Resources Plc Q&A: Resource Upgrade at Mina do Barroso lithium project https://www.directorstalkinterviews.com/savannah-resources-plc-qa-resource-upgrade-mina-barroso-lithium-project/412750749 Tue, 08 May 2018 11:13:05 +0000 https://www.directorstalkinterviews.com/?p=750749 Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the resource upgrade at their Mina do Barroso lithium project.   Q1: So, we’ve seen some significant resource news from Savannah Resources this morning, a 52% increase I believe on the previous resource. Can you give ...

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Savannah Resources Plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the resource upgrade at their Mina do Barroso lithium project.

 

Q1: So, we’ve seen some significant resource news from Savannah Resources this morning, a 52% increase I believe on the previous resource. Can you give me a bit more information on today’s result?

A1: Well, I suppose the particular significance is that we’ve really now identified Europe’s largest spodumene mineral resource and spodumene is the key lithium mineral and of course, lithium is really very much a strategic metal these days. It’s a vital piece of the whole development of electric vehicles and I suppose that’s runs to the importance of the car manufacturing industry in Europe so it’s very sort of constituent with the way Europe is looking to go.

 

Q2: As you mentioned, the type of lithium you have is spodumene, what exactly is this and how does it compare to other types of lithium?

A2: Spodumene is a lithium mineral, there are a number of lithium minerals but spodumene is the most internationally traded of the lithium minerals so it’s almost like as hematite is in the iron ore industry, spodumene is the primary lithium mineral in the lithium industry. So, we’re very fortunate to have a project there in which we have a number of deposits and each one of those deposits contains the spodumene mineral, sounds a bit technical but it’s an important point.

 

Q3: Now, this is the second Mineral Resource Estimate upgrade you have made in the last two months, and crucially you’ve managed to define a resource of this level within less than a year of acquiring the project. It’s a significant achievement really, do you expect to maintain this rapid pace?

A3: Yes, we’re continuing with our drill programme at Mina do Barroso, we have both an RC and diamond rig there at the moment and we continue to be encouraged by the drilling results that we’re achieving. We’re continuing to step out of the mineralisation and expand the mineralised envelope, so we feel as if we’ll be able to continue to increase the mineral resource over the coming months.

We’ve attempted to guide the market by defining an 8-12 million tonne exploration target, some of which we will now have delivered on with this existing resource upgrade. Overall, guiding the market towards a number of around 20 million tonnes that’s in our at least immediate resource target.

 

Q4: In terms of next steps for the project, I see that the resource drilling continues so this must mean you are confident with the further expansion potential that exists?

A4: Absolutely. Really, it’s been very much a project that continues to deliver for us, both on the metallurgical test work side, the results are certainly very favourable and show that we can produce a 6% plus lithium concentrate which is the international metric that you need to be able to deliver to. So, that work is ongoing at the moment, that’s supplemented and complimented by the full scoping study that’s been undertaken by Hatch and we hope to have those results out in the next month or so. That will lead immediately into a full feasibility study and we’ve got a very aggressive development timetable we’re working to for this project.

The reason why we are so aggressive is we’re so confident in terms of what we’ve being seeing to date and we also sort of see this particular project will play a very important role in the development of the European lithium value chain and we’re very keen to achieve first-mover advantage by being the first major producer of lithium in Europe.

 

Q5: Finally, I see that the scoping study is on track for completion in Q2 this year and that you plan to make a development decision by early 2019. Near-term production potential is always good news, but timing wise this must also be strategic, given the rising demand that we are seeing for lithium from battery and electric vehicle manufacturers particularly in Europe?

A5: Indeed, and we see Savannah Resources’ project as perhaps the most latent of the budding new projects in Europe and the European Union is very concerned to ensure security of supply and having production within the walls of the European Union, I think, is very complimentary to the overall strategic objectives of European governments and will help to underpin the continued prosperity of the European industry.

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Market Risers: Microsaic Systems PLC, Rio Tinto plc, Savannah Resources Plc, Scottish Mortgage Investment Trust PLC https://www.directorstalkinterviews.com/market-risers-microsaic-systems-plc-rio-tinto-plc-savannah-resources-plc-scottish-mortgage-investment-trust-plc/412750615 Fri, 04 May 2018 11:41:02 +0000 https://www.directorstalkinterviews.com/?p=750615 The stock price for Microsaic Systems PLC company symbol: LON:MSYS has risen 4.58% or 0.11 points throughout today’s trading session so far. Buyers have remained optimistic during this period. Range high for the period has seen 2.51 meanwhile the session low reached 2.24. The amount of shares exchanged has so far reached 53,968 with the ...

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The stock price for Microsaic Systems PLC company symbol: LON:MSYS has risen 4.58% or 0.11 points throughout today’s trading session so far. Buyers have remained optimistic during this period. Range high for the period has seen 2.51 meanwhile the session low reached 2.24. The amount of shares exchanged has so far reached 53,968 with the average number of shares traded daily being 1,544,545. The 52 week high price for the shares is 4.64 some 2.24 points difference from the previous days close and the 52 week low at 0.9 a difference of some 1.5 points. The current market capitalisation is £7.97m at the time of this report. Share price is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for Microsaic Systems PLC being recorded at Wednesday, May 2, 2018 at 10:27:30 AM GMT with the stock price trading at 2.51 GBX.

 

The stock price for Rio Tinto plc with ticker code: LON:RIO has moved up 2.32% or 91 points during the course of today’s session so far. Market buyers have so far held a positive outlook during the trading session. Range high for the period has seen 4020 dipping to 3962. Volume total for shares traded during this period was 1,344,810 whilst the daily average number of shares exchanged is just 5,190,851. The 52 week high price for the shares is 4226.56 which comes in at 312.06 points different to the previous business close and a 52 week low sitting at 2882.5 which is a variance of 1032 points. The market capitalisation currently stands at £72,325.48m at the time of this report. Share price is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for Rio Tinto plc being recorded at Wednesday, May 2, 2018 at 1:13:33 PM GMT with the stock price trading at 4005.5 GBX.

 

 

Stock in Savannah Resources Plc EPIC code: LON:SAV has increased 13.48% or 0.76 points during today’s session so far. Buyers are a positive bunch throughout the session. The periods high has already touched 6.51 dropping as low as 5.93. The number of shares traded by this point in time totalled 2,902,434 whilst the daily average number of shares exchanged is just 859,947. The 52 week high is 6.92 which comes in at 1.32 points different to the previous business close and a 52 week low sitting at 4.63 which is a difference of 0.97 points. The market cap now stands at £38.85m at the time of this report. The currency for this stock is GBX. Market cap is measured in GBP. This article was written with the last trade for Savannah Resources Plc being recorded at Wednesday, May 2, 2018 at 1:07:41 PM GMT with the stock price trading at 6.36 GBX.

 

 

Shares of Scottish Mortgage Investment Trust PLC with company EPIC: LON:SMT has stepped up 1.28% or 6.13 points throughout today’s trading session so far. Buyers have so far held a positive outlook during this period. The high for the period has reached 485.2 and hitting a low of 479.4. The total volume traded so far comes to 1,105,418 while the daily average number of shares exchanged is 3,630,512. The 52 week high is 485.2 around 6.6 points difference from the previous days close and the 52 week low at 376.1 which is a difference of 102.5 points. The market cap now stands at £6,791.43m at the time of this report. The stock is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for Scottish Mortgage Investment Trust PLC being recorded at Wednesday, May 2, 2018 at 1:12:54 PM GMT with the stock price trading at 484.73 GBX.

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INTERVIEW: Savannah Resources David Archer Talks Resource Upgrades https://www.directorstalkinterviews.com/interview-savannah-resources-david-archer-talks-resource-upgrades/412750510 Thu, 03 May 2018 09:10:00 +0000 https://www.directorstalkinterviews.com/?p=750510 Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about the ignificant increase in the JORC 2012-Compliant Indicated and Inferred Mineral Resource Estimate at the Mina do Barroso Lithium Project. David talks us through in more detail the increase, explains how spodumene differs from other types of lithium, maintaining this rapid pace in upgrades, ...

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Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about the ignificant increase in the JORC 2012-Compliant Indicated and Inferred Mineral Resource Estimate at the Mina do Barroso Lithium Project. David talks us through in more detail the increase, explains how spodumene differs from other types of lithium, maintaining this rapid pace in upgrades, further expansion potential and strategic timing given the demand.

Savannah Resources Plc are a diversified resources group 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 company is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of its staff and the communities that they work with.  The group is listed and regulated on AIM and the Company’s ordinary shares are also available on the Börse Stuttgart (SWB) under the ticker “SAV”.

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INTERVIEW: Savannah Resources David Archer Talks Resource Upgrades Savannah Resources Plc (LON:SAV) CEO David Archer talks to DirectorsTalk about the ignificant increase in the JORC 2012-Compliant Indicated and Inferred SAV ...
Market Risers: Savannah Resources Plc, Scottish Mortgage Investment Trust PLC, Skinbiotherapeutics PLC, Smiths Group plc https://www.directorstalkinterviews.com/market-risers-savannah-resources-plc-scottish-mortgage-investment-trust-plc-skinbiotherapeutics-plc-smiths-group-plc/412750477 Wed, 02 May 2018 12:10:21 +0000 https://www.directorstalkinterviews.com/?p=750477 Stock in Savannah Resources Plc found using EPIC: LON:SAV has stepped up 15% or 0.84 points during the course of today’s session so far. Investors have stayed positive while the stock has been in play. The periods high has reached 6.51 dropping as low as 5.93. The total volume of shares exchanged through this period ...

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Stock in Savannah Resources Plc found using EPIC: LON:SAV has stepped up 15% or 0.84 points during the course of today’s session so far. Investors have stayed positive while the stock has been in play. The periods high has reached 6.51 dropping as low as 5.93. The total volume of shares exchanged through this period comes to 2,804,509 whilst the daily average number of shares exchanged is just 859,947. A 52 week high for the stock is 6.92 equating to 1.32 points difference from the previous days close and the 52 week low at 4.63 is a variance of 0.97 points. Market capitalisation is now £39.37m at the time of this report. The currency for this stock is GBX. Market cap is measured in GBP. This article was written with the last trade for Savannah Resources Plc being recorded at Wednesday, May 2, 2018 at 12:55:58 PM GMT with the stock price trading at 6.44 GBX.

 

 

Stock in Scottish Mortgage Investment Trust PLC with EPIC code: LON:SMT has stepped up 1.27% or 6.08 points throughout today’s trading session so far. Market buyers have so far held a positive outlook throughout the session. The high for the period has peaked at 485.2 dropping as low as 479.4. The number of shares traded by this point in time totalled 1,072,488 whilst the average number of shares exchanged is 3,630,512. The stock 52 week high is 485.2 about 6.6 points difference from the previous days close and putting the 52 week low at 376.1 which is a variance of 102.5 points. Scottish Mortgage Investment Trust PLC now has a 20 SMA at 454.57 and also a 50 day SMA of 460.06. Market capitalisation for the company is £6,790.85m at the time of this report. The currency for this stock is Great British pence.Market cap is measured in GBP. This article was written with the last trade for Scottish Mortgage Investment Trust PLC being recorded at Wednesday, May 2, 2018 at 12:56:38 PM GMT with the stock price trading at 484.68 GBX.

 

 

The share price for Skinbiotherapeutics PLC with EPIC code: LON:SBTX has increased 6.19% or 0.88 points during today’s session so far. Traders seem confident throughout the session. The periods high figure was 15.4 meanwhile the session low reached 14.24. Volume total for shares traded at this point reached 320,973 with the daily average traded share volume around 464,826. A 52 week high for the stock is 15.4 which is 1.27 points difference from the previous close and the 52 week low at 7.07 a difference of some 7.06 points. This puts the market cap at £18.33m at the time of this report. The share price is in GBX. Mcap is measured in GBP. This article was written with the last trade for Skinbiotherapeutics PLC being recorded at Wednesday, May 2, 2018 at 12:51:00 PM GMT with the stock price trading at 15 GBX.

 

The share price for Smiths Group plc found using EPIC: LON:SMIN has climbed 1.49% or 24 points during today’s session so far. Buyers seem confident during the session. The periods high has already touched 1638.5 while the low for the session was 1610. The total volume of shares traded by this point was 319,085 with the daily average traded share volume around 2,168,459. The 52 week high price for the shares is 1697 which is 87 points difference from the previous days close and the 52 week low at 1354 a difference of some 256 points. Smiths Group plc has a 20 day moving average of 1556.71 and now a 50 day moving average of 1567.68. The market capitalisation currently stands at £6,470.87m at the time of this report. The currency for this stock is GBX. Market cap is measured in GBP. This article was written with the last trade for Smiths Group plc being recorded at Wednesday, May 2, 2018 at 12:55:21 PM GMT with the stock price trading at 1634 GBX.

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Savannah Resources Plc 52% Resource Upgrade for the Mina do Barroso Lithium Project https://www.directorstalkinterviews.com/savannah-resources-plc-52-resource-upgrade-mina-barroso-lithium-project/412750440 Wed, 02 May 2018 06:32:10 +0000 https://www.directorstalkinterviews.com/?p=750440 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced a significant increase in the JORC 2012-Compliant Indicated and Inferred Mineral Resource Estimate at the Mina do Barroso Lithium Project in northern Portugal. Highlights · Mina do Barroso believed to be Western Europe’s largest spodumene (a lithium bearing mineral) Mineral Resource · ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced a significant increase in the JORC 2012-Compliant Indicated and Inferred Mineral Resource Estimate at the Mina do Barroso Lithium Project in northern Portugal.

Highlights

· Mina do Barroso believed to be Western Europe’s largest spodumene (a lithium bearing mineral) Mineral Resource

· 52% increase in overall Mineral Resource for Mina do Barroso, which now stands at 14Mt at 1.1% Li₂O

· Resource defined from three deposits, and expansion marks an ~87% increase in the total Mineral Resource Estimate at Grandao to 10.3Mt at 1.1% Li₂O containing 111,600t of Li₂O

· ~70% of the Grandao Deposit is now reported at the higher confidence Indicated classification, with an increase in Li₂O grade of ~6% compared to the February 2018 estimate

· Significant upside remains and further Mineral Resource Estimate updates are expected during 2018:

o Drilling is now underway targeting both down dip and strike extensions of the current Mineral Resource Estimate

o Excellent potential for new discoveries of additional lithium bearing pegmatite bodies

· Scoping Study on track for completion in Q2 2018 ahead of making a development decision by early-2019

Savannah Resources plc CEO, David Archer said: “Mina do Barroso is shaping up as a major new European mineral discovery. With the strong growth prospects for lithium ion batteries for Electric Vehicles and for electricity storage from the grid this is a critical time to be bringing a project of Mina do Barroso’s scale, grade and location, on stream. We believe that Mina do Barroso has the potential to be a key piece of Europe’s emerging lithium value chain that could help support the shift by European car manufacturers to the production of Electric Vehicles.”

“This is the second Mineral Resource Estimate upgrade we have made in the last two months, outlining our rapid development approach. We believe we have established the largest spodumene lithium Mineral Resource in Western Europe. It is important to remember that spodumene concentrate is the dominant lithium mineral product that is traded internationally, and with no current European producer we believe that Portugal could be the first European supplier of spodumene thanks to the near-term development potential of Mina do Barroso, which has already been granted a Mining Lease. Our focus now is to establish the Project’s economics, with the results of the Scoping Study due this quarter. Further Mineral Resource upgrades are expected in coming months.”

Mineral Resource Estimate

A Mineral Resource Estimate for the Grandao Lithium Deposit has been completed by Payne Geological Services Pty Ltd, an external and independent mining consultancy – http://www.paynegeo.com.au/paul-payne. The Deposit forms part of Savannah’s Mina do Barroso Lithium Project, located in northern Portugal. The Mineral Resource Estimate has been classified as Indicated and Inferred Mineral Resource Estimate in accordance with the JORC Code, 2012 Edition and is summarised in Table 1, Table 2 and Appendix 1.

Table 1. April 2018 Mineral Resource Summary

Tonnes

Li2O

Fe2O3

Tonnes

Li2O

Fe2O3

Tonnes

Li2O

Fe2O3

Li2O

(minor rounding discrepancies may occur)

Table 2. Grandao Deposit April 2018 Mineral Resource Estimate (0.5% Li2O cut-off grade)

Resource
Class

Tonnes

Li2O

Ta2O5

Fe2O3

Li2O

(minor rounding discrepancies may occur)

The Grandao Deposit comprises two main pegmatite intrusions. The upper part of the deposit occurs within a broad, shallow dipping pegmatite body with a typical thickness of 20m-40m. The lower portion appears to be a steep dipping dyke, which is 15m-20m in true width. The geometry of the lower zone is not clear due to the current sparse drilling in this portion of the Deposit, where only three holes have intersected the zone. In addition, four minor lenses of pegmatite are also included in the Mineral Resource Estimate. Both main pegmatite zones remain open either along strike or down plunge.

The Grandao Mineral Resource Estimate is based on results from 70 Reverse Circulation (‘RC’) drill holes and two diamond drill holes all completed by Savannah in 2017 and 2018.

Potential Resource Expansion

The Grandao Deposit remains open both along strike in a number of directions as well as down dip. Given the consistency and predictability in which the drilling programme has been able to regularly intersect the main flat lying pegmatite it is reasonable to interpret that further drilling could lead to a further expansion of the Grandao Deposit.

Geology

At Mina do Barroso, lithium mineralisation occurs predominantly in the form of spodumene-bearing pegmatites, which are hosted in metapelitic and mica schists, and occasionally carbonate schists of upper Ordovician to lower Devonian age. The main Grandao pegmatite is a flat-lying, tabular zone defined over an area of 500m north-south and 500m east-west and varies in thickness from 10m-60m. It is very close to surface and is visible in outcrop over a significant area. A lower zone of mineralisation is also present at Grandao, hosted in what is interpreted to be a north-south trending steep-dipping, tabular pegmatite dyke 15m-20m in true width. The geometry of the lower pegmatite is not well defined due to the currently sparse drilling.

At the Project, lithium is present in most pegmatite compositions and laboratory test work confirms that the lithium is almost exclusively within spodumene. Distinct lithium grade zonation occurs within the pegmatites, with weakly mineralised zones often evident at the margins of the dykes. Minor xenoliths and inliers of schist are observed on occasions.

The weathering profile comprises a shallow, surficial zone of weak to moderate oxidation, particularly of the schistose country rock. A zone of deeper weathering exists on the western side of the Grandao Deposit with moderate oxidation to a depth of up to 50m.

Drilling

A total of 70 RC holes and two diamond holes define the Grandao Mineral Resource Estimate. Four of the RC holes and both diamond holes were awaiting assay results however the geological logging from those holes was used to assist in interpretation of the pegmatite. The holes were drilled on an approximate grid spacing of 40m-60m. All holes were drilled by Savannah in 2017 and 2018.

Drill collar locations are recorded in Universal Traverse Mercator (“UTM”) coordinates using differential GPS. All Savannah drilling has been down-hole surveyed using a gyroscopic tool.

Sampling and Sub-Sampling Techniques

For the Savannah RC drilling, a face-sampling hammer was used with samples collected at 1m intervals from pegmatite zones with composite sampling of typically 4m in the surrounding schists in early drilling. In recent drilling the schist 5m either side of the pegmatite was sampled at 1m intervals with the rest of schist remaining unsampled. The 1m samples were collected through a rig-mounted riffle splitter and were 4kg-6kg in weight. The 4m composites were collected by spear sampling of the 1m intervals. Samples were weighed to assess the sample recovery which was determined to be satisfactory.

Core was PQ and HQ in size and sampled to geological boundaries. Half core was collected for metallurgical test work, and quarter core samples were collected for assay. No assay results from the diamond drilling were available for this update.

Sample Analysis Method

For all Savannah drilling, whole samples were crushed then riffle split to produce a 250g split for pulverising and analysis.

The samples were analysed using ALS laboratories ME-MS89L Super Trace method which combines a sodium peroxide fusion with ICP-MS analysis and a multi-element suite was analysed.

QAQC protocols were in place for the drilling programmes and included the used of standards and field duplicates. The data has confirmed the quality of the sampling and assaying for use in Mineral Resource estimation.

Estimation Methodology

For the Grandao Mineral Resource Estimate, a Surpac block model was constructed with block sizes of 20m (EW) by 10m (NS) by 5m (elevation) with sub-celling to 5m by 2.5m by 1.25m. The typical drill hole spacing is 40m-60m.

Interpretation of the pegmatite dykes was completed using detailed geological logging and Fe geochemistry. Wireframes of the pegmatites were prepared and within those the sample data was extracted and analysed. A clear break in the grade distribution occurs at 0.5% Li2O and this grade threshold was used to prepare the internal grade domains for estimation. In addition to the two main pegmatite bodies, several small pegmatites were also interpreted. Zones of unmineralised schist within the pegmatite body were selectively wireframed and excluded from the estimate.

Sample data was composited into 1m intervals then block model grades estimated using ordinary kriging (“OK”) grade interpolation for the two main pegmatites and inverse distance squared (“ID2”) grade interpolation for the four small pegmatite zones. A first pass search range of 60m was used and oriented to match the dip and strike of the mineralisation. A minimum of 10 samples and a maximum of 24 samples were used to estimate each block. The majority of the Mineral Resource Estimate (61%) was completed in the first pass with expanded search radii of 120m and 240m used for the blocks not estimated in the first pass. No high-grade cuts were applied to the estimate.

Iron within the pegmatites is uniformly low, with a mean Fe2O3 grade of 1.3% at Grandao. Other similar deposits have reported that a large proportion of the assayed iron is due to contamination from the abrasion of steel drilling and sample preparation equipment and this will be investigated as part of ongoing studies at the Project.

Bulk density determinations (helium pycnometer) were carried out on 87 sample pulps. Bulk density values applied to the estimates were 2.5t/m3 for oxide lithologies, 2.7t/m3 for unoxidised pegmatite and 2.8t/m3 for unoxidised schist.

Mineral Resource Classification

The Mineral Resource Estimate was classified in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012).

The main pegmatite dyke at Grandao has generally been drilled at 40m to 60m holes spacings. The majority of holes in the main pegmatite at Grandao have consistently intersected pegmatite, with the majority intersecting resource grade Li2O mineralisation and the continuity of lithium mineralisation is good. The portion of the deposit defined by 40m to 60m spaced drill holes has been classified as an Indicated Mineral Resource Estimate. Where the main pegmatite showed good potential for further extensions, the Indicated Mineral Resource Estimate was extrapolated up to 60m past drill hole intersections and the Inferred Mineral Resource Estimate was extrapolated a further 60m.

All minor pegmatite bodies were classified as an Inferred Mineral Resource Estimate due to the lack of detailed drilling or the uncertainty of geometry of the mineralisation.

The main shallow pegmatite at Grandao lies entirely above 100m vertical depth. The deep pegmatite has been reported to a depth of 160m vertical.

Cut-off Grades

The shallow and flat lying nature of the main Grandao pegmatite suggests good potential for open pit mining if sufficient resources can be delineated to consider a mining operation. The lower pegmatite at Grandao has favourable geometry and thickness for low-cost underground mining as an option in the second step. As such, the Mineral Resource Estimate has been reported at a 0.5% Li2O lower cut-off grade to reflect assumed exploitation by low-cost mining methods.

Metallurgy

Metallurgical test work has been conducted by Savannah on representative mineralisation at Mina do Barroso. The work was completed by Nagrom Metallurgical in Australia and confirmed that high-grade lithium, low-grade iron concentrate can be generated from the mineralisation using conventional processing technology. Microscopy confirmed that the concentrate was almost entirely spodumene. A substantial metallurgical test work programme has recently commenced.

Modifying Factors

No modifying factors were applied to the reported Mineral Resource Estimate. Parameters reflecting mining dilution, ore loss and metallurgical recoveries will be considered during the any future mining evaluation of the Project.

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Market Risers: Savannah Resources Plc, Scottish Mortgage Investment Trust PLC, SSE PLC, Standard Chartered PLC https://www.directorstalkinterviews.com/market-risers-savannah-resources-plc-scottish-mortgage-investment-trust-plc-sse-plc-standard-chartered-plc/412750195 Fri, 27 Apr 2018 13:28:44 +0000 https://www.directorstalkinterviews.com/?p=750195 The stock price for Savannah Resources Plc ticker lookup code: LON:SAV has gained 3.85% or 0.2 points during the course of today’s session so far. Market buyers seem confident throughout the session. The period high has peaked at 5.4 while the low for the session was 5.15. The number of shares traded by this point ...

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The stock price for Savannah Resources Plc ticker lookup code: LON:SAV has gained 3.85% or 0.2 points during the course of today’s session so far. Market buyers seem confident throughout the session. The period high has peaked at 5.4 while the low for the session was 5.15. The number of shares traded by this point in time totalled 567,802 while the daily average number of shares exchanged is 795,040. The 52 week high price for the shares is 6.92 equating to 1.72 points difference from the previous days close and putting the 52 week low at 4.63 which is a variance of 0.57 points. This puts the market capitalisation now at £30.63m at the time of this report. The stock is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for Savannah Resources Plc being recorded at Friday, April 27, 2018 at 12:58:22 PM GMT with the stock price trading at 5.4 GBX.

 

 

The share price for Scottish Mortgage Investment Trust PLC found using EPIC: LON:SMT has stepped up 2.66% or 12.26 points during the course of today’s session so far. Traders seem confident while the stock has been in play. The period high has peaked at 474.6 and a low of 465.22. The amount of shares exchanged has so far reached 2,183,835 while the average shares exchanged is 3,652,391. The 52 week high price for the shares is 479.2 which comes in at 18.2 points in difference on the previous days close and a 52 week low being 372.1 is a variance of 88.9 points. Scottish Mortgage Investment Trust PLC now has a 20 simple moving average of 450.87 and now the 50 day simple moving average now of 459.37. The market cap now stands at £6,531.08m at the time of this report. Share price is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for Scottish Mortgage Investment Trust PLC being recorded at Friday, April 27, 2018 at 1:02:19 PM GMT with the stock price trading at 473.26 GBX.

 

 

The stock price for SSE PLC ticker lookup code: LON:SSE has climbed 1.73% or 23.5 points throughout today’s trading session so far. Traders have remained optimistic while the stock has been in play. The periods high has already touched 1382.5 dropping as low as 1356. The total volume of shares traded by this point was 1,108,834 with the average number of shares traded daily being 4,172,907. The 52 week high for the shares is 1554 which comes in at 196 points different to the previous business close and a 52 week low sitting at 1176.5 is a variance of 181.5 points. SSE PLC now has a 20 SMA of 1312.72 and now a 50 day simple moving average now of 1268.6. The market capitalisation currently stands at £13,812.59m at the time of this report. The stock is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for SSE PLC being recorded at Friday, April 27, 2018 at 1:02:17 PM GMT with the stock price trading at 1381.5 GBX.

 

 

Shares of Standard Chartered PLC found using EPIC: LON:STAN has moved up 1.5% or 11.2 points throughout the session so far. Buyers are a positive bunch throughout the trading session. The period high was 760.7 dropping as low as 750. Volume total for shares traded during this period was 1,611,452 with the average number of shares traded daily being 9,330,208. A 52 week high for the stock is 864.2 about 115.4 points in difference to the previous days close of business and a 52 week low sitting at 688.6 a difference of some 60.19 points. Standard Chartered PLC now has a 20 SMA of 737.62 and now the 50 day moving average now at 767.54. The current market capitalisation is £25,246.45m at the time of this report. The share price is in Great British pence. Mcap is measured in GBP. This article was written with the last trade for Standard Chartered PLC being recorded at Friday, April 27, 2018 at 1:02:26 PM GMT with the stock price trading at 760 GBX.

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Savannah Resources Plc Bulk Sampling Underway to Identify Additional Revenue Stream https://www.directorstalkinterviews.com/savannah-resources-plc-bulk-sampling-underway-identify-additional-revenue-stream/412750052 Thu, 26 Apr 2018 06:40:18 +0000 https://www.directorstalkinterviews.com/?p=750052 Savannah Resources plc (LON:SAV), a resource development company, has today announced that the collection of a bulk sample is underway at the NOA Deposit, which is one of three primary target areas currently being advanced at the Mina do Barroso Lithium Project in northern Portugal (Figure 1). To view the press release with photos showing ...

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Savannah Resources plc (LON:SAV), a resource development company, has today announced that the collection of a bulk sample is underway at the NOA Deposit, which is one of three primary target areas currently being advanced at the Mina do Barroso Lithium Project in northern Portugal (Figure 1). To view the press release with photos showing the bulk sample underway, please use the following link: Savannah PDF

HIGHLIGHTS:

· Savannah has identified an opportunity to potentially generate additional revenues via the sale of feldspar/quartz (used in ceramics), alongside the core sale of battery-grade spodumene concentrates

· The collection of a bulk sample is underway at NOA, utilising 35t excavators as part of the larger development programme for the Project

· The key objective of the bulk sampling is to obtain a large sample of material for test work for both the ceramics and lithium markets

· The bulk sample is being collected inside one of Mina do Barroso’s licenced mining areas

· Material from the bulk sample will be evaluated in the on-going metallurgical test work programme currently underway at Nagrom’s facility, located in Perth

· The test marketing of feldspar/quartz will also help guide plans for the potential sale of the primary lithium spodumene product for export markets

Savannah Resources Plc CEO, David Archer said: “The commencement of bulk sampling at Mina do Barroso marks the next stage in our strategy, as we advance the Project towards the production of export grade spodumene concentrates for European and international markets.

“The feldspar/quartz component from the bulk sample will help validate the possibility of selling this as a co-product, which will not only generate supplemental revenues but will potentially also help to reduce stored volumes of coarse rejects and tailings produced from the concentration process of our anticipated lithium mine development. We think this approach holds clear commercial, operational and environmental benefits for the larger development. Portugal has a vibrant ceramics industry and lithium enriched feldspar/quartz is a sought-after material.”

Figure 1. Bulk sampling activities underway at the NOA Deposit – See PDF

Source: Company photograph

Figure 2. Bulk sampling activities underway at the NOA Deposit – See PDF

Source: Company photograph

Competent Person and Regulatory Information

The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

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Market Risers: Savannah Resources Plc, Shire PLC, SKY PLC, Veltyco Group PLC https://www.directorstalkinterviews.com/market-risers-savannah-resources-plc-shire-plc-sky-plc-veltyco-group-plc/412750010 Wed, 25 Apr 2018 11:44:24 +0000 https://www.directorstalkinterviews.com/?p=750010 Shares in Savannah Resources Plc ticker code: LON:SAV has risen 3.53% or 0.18 points throughout the session so far. Traders are a positive bunch throughout the session. Range high for the period has seen 5.38 meanwhile the session low reached 5.15. Volume total for shares traded at this point reached 998,357 whilst the average number ...

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Shares in Savannah Resources Plc ticker code: LON:SAV has risen 3.53% or 0.18 points throughout the session so far. Traders are a positive bunch throughout the session. Range high for the period has seen 5.38 meanwhile the session low reached 5.15. Volume total for shares traded at this point reached 998,357 whilst the average number of shares exchanged is 750,273. A 52 week share price high is 6.92 some 1.82 points difference from the previous days close and the 52 week low at 4.63 is a variance of 0.47 points. This puts the market cap at £29.95m at the time of this report. The share price is in Great British pence. Mcap is measured in GBP. This article was written with the last trade for Savannah Resources Plc being recorded at Wednesday, April 25, 2018 at 12:00:27 PM GMT with the stock price trading at 5.28 GBX.

 

 

The trading price for Shire PLC with ticker code: LON:SHP has stepped up 1.21% or 47.5 points during today’s session so far. Market buyers have remained positive while the stock has been in play. Range high for the period has seen 4090.5 and hitting a low of 3861. The total volume of shares traded by this point was 5,160,405 with the daily average traded share volume around 5,617,248. A 52 week share price high is 5021 around 1091 points difference from the previous days close and putting the 52 week low at 2940.5 a difference of some 989.5 points. Shire PLC now has a 20 moving average of 3785.06 with a 50 day SMA of 3402.83. The market capitalisation currently stands at £34,979.26m at the time of this report. The currency for this stock is Great British pence.Market cap is measured in GBP. This article was written with the last trade for Shire PLC being recorded at Wednesday, April 25, 2018 at 12:39:34 PM GMT with the stock price trading at 3977.5 GBX.

 

 

The stock price for SKY PLC EPIC code: LON:SKY has climbed 3.21% or 42 points during today’s session so far. Traders are a positive bunch during the session. The high for the period has reached 1402 and hitting a low of 1305. The number of shares traded by this point in time totalled 3,655,887 with the daily average at 3,560,210. A 52 week high for the stock is 1402 some 94 points difference from the previous days close and the 52 week low at 11.4 making a difference of 1296.6 points. SKY PLC now has a 20 SMA of 1318.72 and now its 50 day SMA of 1287.2. Market capitalisation is now £23,215.60m at the time of this report. Share price is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for SKY PLC being recorded at Wednesday, April 25, 2018 at 12:39:21 PM GMT with the stock price trading at 1350 GBX.

 

 

Shares in Veltyco Group PLC found using EPIC: LON:VLTY has gained 4% or 3 points during today’s session so far. Market buyers have so far held a positive outlook while the stock has been in play. The period high was 78 meanwhile the session low reached 74.25. Volume total for shares traded at this point reached 19,549 with the average number of shares traded daily being 47,031. The 52 week high for the shares is 101.25 some 26.25 points difference from the previous days close and putting the 52 week low at 45 which is a variance of 30 points. The current market cap is £58.28m at the time of this report. The currency for this stock is Great British pence.Market cap is measured in GBP. This article was written with the last trade for Veltyco Group PLC being recorded at Wednesday, April 25, 2018 at 12:38:24 PM GMT with the stock price trading at 78 GBX.

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Savannah Resources Plc Grandao Extended – More Higher-Grade Lithium Intersected https://www.directorstalkinterviews.com/savannah-resources-plc-grandao-extended-higher-grade-lithium-intersected/412749984 Wed, 25 Apr 2018 06:19:46 +0000 https://www.directorstalkinterviews.com/?p=749984 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, is pleased to announce further results from the ongoing reverse circulation drill programme at the Mina do Barroso Lithium Project (Figure 1). Results for holes 18GRARC66 to 18GRARC78 have now been received. To view the press release with the illustrative maps and diagrams please use ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, is pleased to announce further results from the ongoing reverse circulation drill programme at the Mina do Barroso Lithium Project (Figure 1). Results for holes 18GRARC66 to 18GRARC78 have now been received. To view the press release with the illustrative maps and diagrams please use the following link: Savannah Resources PDF

HIGHLIGHTS:

· Ongoing RC drilling at Grandao Extended has intersected further higher-grade lithium mineralisation over significant widths

· Key results include:

– 50m at 1.18% Li₂O from 72m, including 41m at 1.39% Li₂O from 73m in 18GRARC71

– 26m at 1.06% Li₂O from 71m, including 20m at 1.31% Li₂O from 75m in 18GRARC77

– 34m at 0.86% Li₂O from 6m, including 17m at 1.31% Li₂O from 17m in 18GRARC72

– 53m at 0.68% Li₂O from 63m, including 15m at 1.32% Li₂O from 67m in 18GRARC74

– 13m at 1.46% Li₂O from 100m in 18GRARC78

· Drilling to date at Grandao and Grandao Extended has now defined a virtually continuous zone of shallowly westerly dipping pegmatite from surface to a vertical depth of over 100m and covering a zone of approximately 550m long and up to 450m wide, confirming the excellent potential of the zone

· Total of 135 holes for 11,083m drilled to date as part of the ongoing RC and diamond drill programme across three primary targets of Grandao, Reservatorio and NOA

· The Hatch Scoping Study and Resource Estimation update remain on schedule to be completed towards the end of Q2 2018

· Phase 3 of the metallurgical test work programme comprising diamond drilling is complete, and samples have arrived at Nagrom in Perth for testing, which is on schedule to be completed in Q3 2018

· Diamond drilling of the sub-vertical body at Grandao has now commenced

Savannah Resources Plc CEO, David Archer said: “We continue to see very encouraging results from the drilling of Grandao Extended which, together with Grandao, are matched by a very low stripping ratio. We believe this highlights the significant expansion potential available at Mina do Barroso as we continue to fast-track the Project towards production.”

Figure 1. Mina do Barroso Project Summary Map showing Prospects and Drilling Completed – See PDF

Grandao

A total of 82 drill holes for 6,865m (17GRARC01-82) have been completed and results for drill holes 17GRARC66 to 78 have now been received and returned further encouraging results (Tables 1 and Figure 2-3 See PDF).

Drilling targeting the Exploration Target* to the west and southwest of the main Grandao Deposit has returned further encouraging zones of lithium mineralisation. All holes completed in the area to date have intersected significant mineralisation

*Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature, there has been insufficient exploration work to estimate a mineral resource and it is uncertain if further exploration will result in defining a mineral resource.

Table 1. Summary of drill results for Grandao flat lying pegmatite using a 0.2% and 0.5% Li2O cut-off

Hole ID

0.2% LiO Cut-Off

0.5% LiO Cut-Off

From

Width

LiO

From

Width

LiO

18GRARC66

0

7

1.08

0

7

1.08

19

5

0.39

21

1

0.95

18GRARC67

33

7

0.25

37

1

0.5

45

17

0.83

46

3

1.24

65

12

0.75

53

6

1.39

82

11

0.99

66

6

1.28

96

6

1.29

83

9

1.12

106

7

0.7

96

6

1.29

107

6

0.74

18GRARC68

57

16

0.69

62

11

0.92

76

11

0.92

76

11

0.92

90

1

0.94

90

1

0.94

94

7

0.76

94

7

0.76

18GRARC69

27

1

0.56

27

1

0.56

36

7

0.42

37

3

0.7

52

11

1.08

52

10

1.16

67

2

0.32

87

4

0.85

85

8

0.56

18GRARC70

66

12

1.15

67

11

1.24

87

13

0.59

87

10

0.69

18GRARC71

72

50

1.18

73

41

1.39

18GRARC72

6

34

0.84

7

4

0.68

58

2

0.81

17

17

1.31

59

1

1.19

18GRARC73

50

8

0.57

56

2

1.57

61

15

1.1

61

14

1.15

82

14

0.22

102

3

0.26

18GRARC74

63

53

0.68

67

15

1.32

89

2

0.85

100

9

0.85

18GRARC75

38

9

1.15

38

8

1.25

18GRARC76

38

9

0.85

41

4

1.54

18GRARC77

71

26

1.06

75

20

1.31

18GRARC78

100

13

1.46

100

13

1.46

130

10

0.62

130

4

1.18

 

Figure 2. Summary of drilling at Grandao showing significant assay results – See PDF

Figure 3. Grandao Cross Section through Main Flat Lying Body – See PDF

Ongoing Drill Programme

Based on the new results, additional RC drill holes have been added to the programme at Grandao in order to further evaluate the potential of Grandao Extended and the wider project area. In addition, a further six holes will be drilled at the Pinheiro Prospect, which is located around 1km to the south of the Grandao Deposit.

The diamond rig is now completing the extension of six existing RC holes to depth, targeting the newly identified broad zone of sub-vertical lithium mineralisation identified below the main tabular shallowly westerly dipping body.

Phase 3 Metallurgical Test Work

Diamond drilling at both the Reservatorio and Grandao Deposits has been completed, with around 500kg of diamond core cut and shipped to Nagrom in Perth from each deposit for the metallurgical test work programme being overseen by lithium expert Mr Noel O’Brien (Figure 4). Work is on track to be completed in Q3 2018.

Figure 4. Mina do Barroso Phase 3 Metallurgical Samples at Nagrom Perth awaiting Processing – See PDF

Competent Person and Regulatory Information

The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

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Savannah Resources Plc Mutamba Mineral Sands Project Update https://www.directorstalkinterviews.com/savannah-resources-plc-mutamba-mineral-sands-project-update/412749780 Mon, 23 Apr 2018 06:17:36 +0000 https://www.directorstalkinterviews.com/?p=749780 Savannah Resources plc (LON:SAV), a resource development company, has today provided the following update on the Mutamba Heavy Minerals Sands Project in Mozambique (‘Mutamba’) which is being developed by a consortium with Rio Tinto. HIGHLIGHTS: The three mining lease applications, covering a total area of 417.32km² for the Jangamo, Dongane, Ravene and Chilubane deposits, are ...

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Savannah Resources plc (LON:SAV), a resource development company, has today provided the following update on the Mutamba Heavy Minerals Sands Project in Mozambique (‘Mutamba’) which is being developed by a consortium with Rio Tinto.

HIGHLIGHTS:

The three mining lease applications, covering a total area of 417.32km² for the Jangamo, Dongane, Ravene and Chilubane deposits, are currently being actively considered by the Mozambican mines department;

Activity continues on several fronts in the lead up to the anticipated grant of mining leases

Following extensive testing the pilot plant has been placed under care and maintenance, as planned, whilst a bulk sample is obtained;

Community development activities required as part of the licencing process continue; an

The scoping phase of the Pre-Feasibility Study (‘PFS’) is now well advanced and the initial key studies for the PFS have been sequenced, with roll out underway, including further roasting test work and a 10t bulk sample to be collected from the Matilda licence.

Savannah Resources Plc CEO, David Archer said: “Whilst we await the outcome of Government analysis, we continue to make progress in advancing some critical work streams at Mutamba. A sequenced scheduling of PFS activities has been agreed and key initial studies are either underway or about to start. These include hydrology studies, port options and the collection of 10 tonnes of sample material to aid in final product determination. These are all essential elements that will inform the PFS and the results of which will guide us in the infrastructure, power, mine planning and process plant requirements. It is an exciting time as we see the future mine plan form and take shape.”

Mining Lease Applications

The applications were submitted earlier this year in the name of Mutamba Mineral Sands S.A., a wholly owned subsidiary of Rio Tinto Limited and cover a total area of 417.32km².

The applications, which are currently being reviewed, were submitted to the Ministry on 18 January 2018 and the mining cadastre reopened on 2 April 2018 following its annual closure. The Ministry has six months from the date of the cadastre reopening to respond to the Applications, although this can be an iterative process. Mining Leases are generally awarded for a term of 25 years and can be renewed at the end of their terms.

Savannah is the operator of the Mutamba Project with an existing 20% interest in a Consortium Agreement with Rio Tinto. Savannah can increase its equity to 35% upon delivery of a Pre-Feasibility Study which is currently underway and to 51% upon delivery of a Definitive Feasibility Study.

Pilot Plant

The pilot plant was inaugurated on 7 December 2017. Since then the plant has been run on a steady basis to ensure it is operating properly and has now been placed on care and maintenance, as planned, while a bulk sample is obtained for processing.

Community Development Activities

Support for local community development initiatives is both a mandatory part of the licence process and an essential part of Savannah’s active community engagement programme with a view to further building on the good relationships and trust the Consortium has with the local authorities and local communities.

To date the Consortium has provided:

· 508 double school desks (Figure 1 – See PDF) to schools in the local districts;

· over 7,000 seedlings for improved and disease resistant coconut plants, as well as, support to cassava production and appropriate trade skills development;

· basic equipment and consumables to local health clinics; and

· ongoing village water supply systems to five of the neediest settlements, which is estimated to benefit up to 7,500 people in the provision of clean, potable water

Pre-Feasibility Study

A Pre-Feasibility Study (‘PFS’), being managed by mineral sands expert TZMI, into the potential development of the project began in latter part of 2017. It is targeted for completion in early 2019 and will be a major milestone for the Company as it will further define the commercial potential of Mutamba whilst also resulting in Savannah earning a 35% interest in the Mutamba Consortium. Stage one of the Mutamba PFS is well advanced and includes a gap analysis, options review, project planning and budget finalisation for stage two of the PFS.

Significant planning by TZMI has been undertaken over the recent months as the Consortium prepares to enter into stage 2 of the PFS and a sequenced approach to the PFS has been developed that will ensure that reports and studies build on each other as the PFS unfolds. The first of these studies have been identified and preparations underway for their roll out.

The first set of studies include:

· Mining methods analysis and strategic scheduling;

· Tailings design and storage options;

· Metallurgical test work programme, the results of which will help inform the engineering design;

· Port options study; and

· Hydrology study to update, calibrate and validate the existing models.

Once complete, these studies will inform and lead the remaining work required to complete the PFS.

About the Mutamba Consortium

The Mutamba Consortium was formed late 2016 and is made up of Savannah Resources plc, which is listed on the AIM Market of the London Stock Exchange, through its wholly owned subsidiary AME East Africa Ltd (‘AME’), and Rio Tinto plc, an international mining and metals company, which is dual listed in Australia and the UK.

AME, a wholly owned subsidiary of Savannah, operates the project on behalf of the consortium, through its subsidiary Matilda Minerals.

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Savannah Resources Plc Completion of £0.58 million Subscription https://www.directorstalkinterviews.com/savannah-resources-plc-completion-0-58-million-subscription/412749432 Tue, 17 Apr 2018 09:31:42 +0000 https://www.directorstalkinterviews.com/?p=749432 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced that further to the recent cash subscription to raise £1.52 million, as announced on 3 April 2018, Al Marjan Ltd (‘Al Marjan’), the Company’s major shareholder, and a number of employees have now subscribed for 10,545,457 new ordinary shares in the Company ...

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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced that further to the recent cash subscription to raise £1.52 million, as announced on 3 April 2018, Al Marjan Ltd (‘Al Marjan’), the Company’s major shareholder, and a number of employees have now subscribed for 10,545,457 new ordinary shares in the Company (the ‘Subscription Shares’) at a price of 5.5p per ordinary share (the ‘Subscription Price’), raising cash proceeds of £0.58 million (the ‘Subscription’).

 

Details of the Subscription

•          Al Marjan’s holding to be 28.2% following a cash subscription of £565,000

•          As previously announced, the net proceeds of the Subscription, when aggregated with the £1.52 million that the Company has already received, will be used by the Company to advance Savannah’s project pipeline:

continue resource definition drilling and scoping study at the Mina do Barroso Lithium Project in Portugal as the Company fast-tracks it to decision to mine;

continued activities around the copper project in Oman; and

advancing the PFS for the world-class Mutamba Heavy Mineral Sands Project in Mozambique.

 

Related Party Transaction

Al Marjan is a substantial shareholder in the Company (the ‘Related Party’). The Subscription by the Related Party constitutes a related party transaction in accordance with AIM Rule 13. Matthew King, David Archer and Dale Ferguson, who are not subscribing for Subscription Shares and are therefore independent Directors for these purposes, having consulted with the Company’s Nominated Adviser, consider the Subscription by the Related Party to be fair and reasonable insofar as Savannah’s shareholders are concerned.

 

Voting Rights and Regulatory Information

Application will be made for the 10,545,457 Subscription Shares, which will rank pari passuwith the existing ordinary shares of 1p each (‘Ordinary Shares’), to be admitted to trading on AIM (‘Admission’). It is expected that Admission will become effective and dealings will commence at 8:00am on or around 23 April 2018.

 

Following Admission of the Subscription Shares, the Company’s total issued share capital will consist of 698,165,540 Ordinary Shares. As such the total number of voting rights in the Company will be 698,165,540 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules.

 

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Savannah Resources Plc Financial Results for the Year Ended 31 December 2017 https://www.directorstalkinterviews.com/savannah-resources-plc-financial-results-year-ended-31-december-2017/412749179 Fri, 13 Apr 2018 06:23:06 +0000 https://www.directorstalkinterviews.com/?p=749179 Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced its audited financial results for the year ended 31 December 2017. The Company also gives notice that its Annual General Meeting (‘AGM’) will be held on 10 May 2018 at 10:00am at The Great Room, London Executive Offices, 25 Southampton Buildings, WC2A ...

This article Savannah Resources Plc Financial Results for the Year Ended 31 December 2017 was written by DirectorsTalk Interviews.


©2017 DirectorsTalk Interviews
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Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced its audited financial results for the year ended 31 December 2017. The Company also gives notice that its Annual General Meeting (‘AGM’) will be held on 10 May 2018 at 10:00am at The Great Room, London Executive Offices, 25 Southampton Buildings, WC2A 1AL.

HIGHLIGHTS

Operations

LIHTIUM IN PORTUGAL

· Fast-tracking the advanced Mina do Barroso Lithium Project in Portugal into production – provides an opportunity to become the first significant raw lithium producer in Europe

· Within less than a year of acquisition Savannah has established an Inferred Mineral Resource of 9.1Mt at 1.03% Li₂O containing 94,100t of Li₂O and outlined a rapid development strategy

· Significant further upside:

o Resource remains open along strike with an Exploration Target* of 8-12Mt at 1.0% to 1.2% Li₂O giving a total project target of 17-21Mt at 1.0-1.2% Li₂O

o In March 2018 drill testing of the Exploration Target to the west and southwest of the main Grandao Deposit led to the discovery of new high-grade lithium mineralisation, with grades as high as 1.71% Li₂O and lengths of up to 90m, which has been named “Grandao Extended”

o Only three of at least eight pegmatites have been drilled to date

· Low cost development profile as proven, conventional metallurgical processes will produce a highly sought after spodumene concentrate with recoveries of at least 80% at a concentrate grade of over 6% Li2O

· Near surface mineralisation indicates project will benefit from a very low stripping ratio

· Scoping study underway and due for completion Q2 2018

· With a Mining Lease, established resource, proximal infrastructure and strong market demand, Savannah is set to make a development decision by early 2019 with mining targeted to commence late 2019

*Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature, there has been insufficient exploration work to estimate a mineral resource and it is uncertain if further exploration will result in defining a mineral resource.

COPPER IN OMAN

· High-grade potential near term mine developments, with mining due to commence later this year

· Licencing approvals well advanced and strong interest received from copper off-takers

· Mines to utilise a central processing plant and tailings storage facility to minimise costs, with capacity to support multiple mine developments

HEAVY MINERAL SANDS IN MOZAMBIQUE

· World-class asset with significant scale being evaluated in a joint venture with Rio Tinto

· Following successful delivery of the Scoping Study, Savannah has increased its interest from 10% to 20% in the Mutamba Project

· Pre-Feasibility Study now underway

· Mining licence applications submitted and production targeted to commence in 2020, with average annual production of 456,000t of roasted ilmenite and 118,000t of non-magnetic concentrate (rutile and zircon)

Financials

· Raised a total of £8.47m in 2017 including private placements to both new and existing shareholders, and, post year end, raised a further £1.52m cash as well as receipt of letters of intent for subscriptions of £0.58m in March 2018

· Continued cornerstone support received from Al Marjan Limited

· Operating loss of £2.84m reflects the increased tempo of operational and investing activities in 2017

· £4.74m increase in Intangible assets and £1.18m increase in Property, plant and equipment

· Pro-forma cash balance of approximately £2.41m following the issue of new shares and receipt of letters of intent as announced on 3 April 2018

David Archer, Savannah Resources plc Chief Executive Officer said, “There is an unprecedented rise in demand for energy metals as a result of the rapid rise of electric vehicles and new forms of energy storage. Globally, all significant hard-rock lithium mines currently supplying export markets produce spodumene concentrates. Mina do Barroso continues to shape up as the European near-analogue to these highly successful Western Australian spodumene producers and our focus is now on advancing Mina do Barroso so that we can become the first significant spodumene lithium producer in Europe to cater to rapidly growing demand. We have already highlighted the significant potential of the project and the pace of our development approach through the establishment of a meaningful resource, and with a scoping study due for completion in Q2 2018, further drilling and metallurgical test work underway to improve our resource confidence still further, and a development on track due to be made early 2019, the coming year is set to be equally active.

“Alongside Mina do Barroso, we have wider development portfolio. Our copper project in Oman is on track to commence mining later this year, offering near term cash flow potential, whilst our mineral sands project in Mozambique continues to prove its world class scale as we advance it in a joint venture with Rio Tinto. With a strong portfolio of highly strategic and complementary assets, and multiple value accretive milestones due in the coming year, we look forward to building Savannah into a leading energy metals group.”

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This article Savannah Resources Plc Financial Results for the Year Ended 31 December 2017 was written by DirectorsTalk Interviews.


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