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The latest announcement is out from Savannah Resources ( (GB:SAV) ).
Savannah Resources announced its financial results for 2024, highlighting significant progress in the development of the Barroso Lithium Project. Key achievements include a strategic partnership with AMG Critical Materials, a potential loan guarantee from the German Government, and increased Portuguese shareholding. The project has been classified as a ‘Strategic Project’ by the European Commission, which enhances its importance as a lithium source for Europe. Technical advancements include the completion of Phase 1 of the Definitive Feasibility Study and ongoing environmental licensing processes. The company is preparing for construction financing and aims to complete the DFS by the end of 2025, positioning itself as a vital player in the European lithium market.
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 Europe’s largest spodumene lithium deposit. The company operates within the mining industry, primarily concentrating on lithium production, a critical component for battery manufacturing, particularly in the electric vehicle and energy storage sectors.
YTD Price Performance: 27.59%
Average Trading Volume: 3,474,292
Technical Sentiment Signal: Strong Sell
Current Market Cap: £111.9M
See more insights into SAV stock on TipRanks’ Stock Analysis page.