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Savannah Resources ( (GB:SAV) ) has issued an announcement.
Savannah Resources has announced significant progress in its Barroso Lithium Project in Portugal, following a successful £9.8m fundraise. The company is poised to make a Final Investment Decision next year, supported by strong commercial interest and rising lithium prices. Savannah is also acquiring the Aldeia Mining Lease, which is adjacent to its existing project and holds a high-grade lithium resource. The company is engaging with potential financiers, including Germany’s KfW IPEX-Bank, for a possible project finance loan. Additionally, Savannah is enhancing its technical team and strengthening community relations while awaiting government approval for temporary land access to complete necessary drilling. The European market’s focus on securing critical raw materials aligns with Savannah’s strategic goals, as highlighted by their participation in European Raw Materials Week.
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 Plc is a company focused on the development of the Barroso Lithium Project in Portugal, which is recognized as a ‘Strategic Project’ under the European Critical Raw Materials Act. The company is involved in the lithium sector, specifically dealing with Europe’s largest spodumene lithium deposit, and is actively working towards advancing its project to a Final Investment Decision.
Average Trading Volume: 3,103,851
Technical Sentiment Signal: Strong Sell
Current Market Cap: £86.23M
For an in-depth examination of SAV stock, go to TipRanks’ Overview page.