Savannah Resources Wins Second Temporary Land Access for Barroso Lithium Project

Savannah Resources ( (GB:SAV) ) just unveiled an announcement.

Savannah Resources, developer of the Barroso Lithium Project in northern Portugal and owner of Europe’s largest spodumene lithium deposit, has secured a second temporary access to land on its C-100 mining lease that it does not yet own. The approval allows the AIM-listed company, which is backed by a state development grant of up to €110 million and EU Strategic Project status, to advance site work in support of its definitive feasibility study and plans to supply lithium to the European battery market.

The new one-year land access, formalised in Portugal’s official gazette, will enable geotechnical fieldwork and drilling for the project’s planned processing plant and related infrastructure. Savannah will now compensate landowners, mobilise drill rigs after land clearing, and expand local hiring and services, while expressing confidence it can withstand any renewed legal objections from local opponents given prior state backing and favourable Portuguese court rulings in support of the project.

The most recent analyst rating on (GB:SAV) stock is a Buy with a £11.00 price target. To see the full list of analyst forecasts on Savannah Resources stock, see the GB:SAV Stock Forecast page.

Spark’s Take on SAV Stock

According to Spark, TipRanks’ AI Analyst, SAV is a Neutral.

The score is held back primarily by a pre-revenue, loss-making financial profile with ongoing cash burn, despite a low-leverage balance sheet. Technicals are supportive due to an established uptrend, but overbought signals temper the outlook. Valuation is difficult to justify with negative earnings (negative P/E) and no dividend yield provided.

To see Spark’s full report on SAV stock, click here.

More about Savannah Resources

Savannah Resources is a mineral resource development company listed on London’s AIM market and is the sole owner of the Barroso Lithium Project in northern Portugal. The project, Europe’s largest battery-grade spodumene lithium resource, has been classified as a Strategic Project under the EU Critical Raw Materials Act and approved for a Portuguese state development grant of up to €110 million to support local supply for Europe’s lithium battery value chain.

Once in operation, Barroso is expected to produce around 190,000 tonnes per year of spodumene concentrate, enough lithium for roughly 500,000 electric vehicle battery packs annually. Savannah positions the project as a responsibly developed source of domestic lithium that can help the EU meet its goal of securing at least 10% of its lithium from European production by 2030, while maximising socio-economic benefits for local stakeholders.

Average Trading Volume: 5,514,532

Technical Sentiment Signal: Buy

Current Market Cap: £159.6M

Learn more about SAV stock on TipRanks’ Stock Analysis page.