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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Savannah Resources Plc | AQSE:SAV.GB | Aquis Stock Exchange | Ordinary Share | GB00B647W791 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.20 | -4.88% | 3.90 | 3.70 | 4.10 | 4.10 | 3.90 | 4.10 | 0.00 | 15:15:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSAV
RNS Number : 2628L
Savannah Resources PLC
30 December 2022
30 December 2022
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')
Extension to Due Diligence period for potential divestment of last remaining Mozambique Mining Concession
Savannah Resources, the European lithium development company, is pleased to provide an update on the Binding Heads of Agreement ('HoA') announced on 9 November 2022 between its subsidiary AME EAST AFRICA LIMITED and MRG Metals Limited (ASX: MRQ, 'MRG') in relation to an option agreement under which MRG could acquire Mining Concession 9735C in Mozambique, (the "Proposed Transaction").
To allow more time for MRG to complete its due diligence on the Proposed Transaction, the parties have agreed by mutual consent to extend the due diligence period to 27 January 2023. The previously allotted due diligence period expired on 24 December 2022.
All other aspects of the Proposed Transaction remain unchanged.
Further updates on the Proposed Transaction will be provided in due course.
Regulatory Information
This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ('UK MAR').
Savannah - Enabling Europe's energy transition.
**ENDS**
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For further information please visit www.savannahresources.com or contact:
Savannah Resources PLC Tel: +44 20 7117 2489 Dale Ferguson, CEO SP Angel Corporate Finance LLP (Nominated Tel: +44 20 3470 0470 Advisor) David Hignell/ Charlie Bouverat (Corporate Finance) Grant Barker/ Abigail Wayne (Sales & Broking) RBC Capital Markets (Joint Broker) Tel: +44 (0) 20 7653 4000 Farid Dadashev/ Jamil Miah Camarco (Financial PR) Tel: +44 20 3757 4980 Gordon Poole/ Emily Hall
About Savannah
Savannah is the owner of the Barroso Lithium Project, located close to key infrastructure in Northern Portugal which contains the most significant spodumene lithium resource in Western Europe. Following a positive Scoping Study which outlined a conventional operation producing 175,000t of spodumene concentrate per annum, Savannah is progressing the development and environmental licencing of the Barroso Lithium Project.
The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker 'SAV'.
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(END) Dow Jones Newswires
December 30, 2022 02:00 ET (07:00 GMT)
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