Savannah Resources ( (GB:SAV) ) has shared an announcement.
Savannah Resources has announced a significant change in its voting rights structure following the acquisition of shares by Grupo Lusiaves SGPS, S.A. This acquisition increases Grupo Lusiaves’ voting rights in Savannah to over 10%, reflecting a strategic investment in Europe’s largest spodumene lithium deposit. This development underscores the importance of the Barroso Lithium Project in the European lithium market, potentially enhancing Savannah’s industry positioning and stakeholder interest.
More about Savannah Resources
Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project in northern Portugal. The project is the largest battery-grade spodumene lithium resource in Europe and is classified as a ‘Strategic Project’ under the European Critical Raw Materials Act. Savannah aims to support Europe’s lithium battery value chain by providing locally sourced lithium, contributing significantly to the European Commission’s goal for endogenous lithium production by 2030.
YTD Price Performance: 19.08%
Average Trading Volume: 3,669,185
Technical Sentiment Signal: Sell
Current Market Cap: £112.5M
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