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Savannah Resources ( (GB:SAV) ) has provided an update.
Savannah Resources plc has announced a proposed fundraise of approximately £9 million to support the acquisition of the Aldeia Mining Lease and advance the development of its Barroso Lithium Project. The fundraise will be conducted through subscriptions from major shareholders, a placing to institutional investors, and a retail offer. The proceeds will be used for acquiring the Aldeia Lease, project development, and securing land use rights, aiming to maintain the project’s development schedule towards first production in 2028.
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 European lithium development company focused on advancing its Barroso Lithium Project. The company is engaged in the exploration and development of lithium resources, with a specific focus on high-grade spodumene lithium deposits.
Average Trading Volume: 2,681,253
Technical Sentiment Signal: Sell
Current Market Cap: £90.07M
See more insights into SAV stock on TipRanks’ Stock Analysis page.