Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Savannah Resources ( (GB:SAV) ) has issued an announcement.
Savannah Resources has moved a step closer to consolidating its position at Europe’s largest spodumene lithium deposit after the vendor of the Aldeia Mining Lease instructed Portugal’s Directorate General for Energy and Geology to transfer the C-190 lease into Savannah’s sole ownership. The Aldeia lease, adjacent to Savannah’s existing C-100 concession at the Barroso Lithium Project, hosts a high‑grade JORC-compliant resource on Block A of 3.5Mt at 1.30% Li2O, accounting for about 11% of the project’s global resource and offering significant exploration upside across three blocks, with the company planning to include its Indicated Resource in the forthcoming definitive feasibility study. The €3.25m acquisition, funded in part by Savannah’s recent oversubscribed equity raise and structured with staged payments to the regulator, is expected to materially strengthen the project’s resource base and future production profile, reinforcing its strategic role in supplying critical lithium to Europe’s energy transition ambitions.
The most recent analyst rating on (GB:SAV) stock is a Buy with a £8.00 price target. To see the full list of analyst forecasts on Savannah Resources stock, see the GB:SAV Stock Forecast page.
More about Savannah Resources
Savannah Resources is a mineral resource development company listed on AIM in London and is the sole owner of the Barroso Lithium Project in northern Portugal, Europe’s largest battery-grade spodumene lithium resource. Classified as a Strategic Project under the EU Critical Raw Materials Act, Barroso is intended to supply locally sourced lithium for Europe’s battery value chain, with planned output sufficient for around 500,000 electric vehicle battery packs per year, while prioritising responsible environmental and socio-economic practices.
Average Trading Volume: 2,750,134
Technical Sentiment Signal: Sell
Current Market Cap: £99.1M
See more insights into SAV stock on TipRanks’ Stock Analysis page.