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Savannah Resources ( (GB:SAV) ) has shared an update.
Savannah Resources Plc has announced a conditional retail offer of new ordinary shares through RetailBook, priced at a 5.4% discount to the closing mid-price. This offer is part of a larger fundraising initiative that includes a placing with institutional investors and a direct subscription with major shareholders. The proceeds will support the ongoing development of the Barroso Lithium Project, including the completion of a Definitive Feasibility Study and preparation for future project phases. The offer is open to both existing and new investors in the UK, with a minimum subscription of £250, and aims to strengthen the company’s financial position and project development capabilities.
More about Savannah Resources
Savannah Resources Plc is an AIM-listed European lithium development company focused on the development of lithium projects. The company is engaged in advancing the Barroso Lithium Project, which is a key component of its operations.
Average Trading Volume: 3,124,901
Technical Sentiment Signal: Sell
Current Market Cap: £80.39M
Learn more about SAV stock on TipRanks’ Stock Analysis page.