Savannah Resources (GB:SAV) has released an update.
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Savannah Resources Plc has strategically partnered with AMG, securing a £16 million investment to fund the Barroso Lithium Project in Portugal, Europe’s largest spodumene lithium deposit. The deal includes an offtake agreement for AMG to buy 45ktpa of spodumene concentrate, with provisions to double this amount if AMG helps finance the project’s full development. This partnership significantly de-risks the project, positions AMG as Savannah’s largest shareholder, and drives forward Europe’s ambitions in the lithium battery sector.
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