Savannah Resources Share Price (SAV)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Savannah Resources Plc	LSE:SAV	London	Ordinary Share	GB00B647W791	ORD 1P

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	-0.05	-2.0%	2.45	416,215	08:00:00

Bid Price		Offer Price	High Price	Low Price	Open Price
2.40		2.50	2.45	2.45	2.45

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Mining		-3.38	-0.44		22

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
16:22:50	O	52,525	2.475	GBX

Related Shares
Rio Tinto (RIO), Bhp (BHP), Mila Resources (MILA), African Battery Metals (ABM)

Savannah Resources (SAV) Latest News

Savannah Resources News

Date	Time	Source	Headline
02/10/2019	07:00	UKREG	Savannah Resources PLC PDMR Notification
30/9/2019	17:38	UKREG	Savannah Resources PLC Total Voting Rights
30/9/2019	08:50	ALNCF	Alliance News Flash Headline
30/9/2019	07:03	UKREG	Savannah Resources PLC Update on £1.24m Subscription by Major Shareholder
26/9/2019	12:17	ALNC	Savannah Resources Loss Flat; Progressing In Portugal And Mozambique
26/9/2019	07:01	UKREG	Savannah Resources PLC Interim Results
25/9/2019	13:01	ALNC	Savannah Resources Completes Resource For Mina Do Barroso By-Products
25/9/2019	07:01	UKREG	Savannah Resources PLC Holding(s) in Company
24/9/2019	10:30	UKREG	Savannah Resources PLC Holding(s) in Company
16/9/2019	09:34	ALNC	Savannah Resources Raises GBP5 Million For Mina Do Barroso Development

More Savannah Resources News

Savannah Resources Takeover Rumours

Savannah Resources (SAV) Share Charts

1 Year Savannah Resources Chart

1 Month Savannah Resources Chart

Intraday Savannah Resources Chart

Savannah Resources (SAV) Discussions and Chat

Savannah Resources Forums and Chat

Date	Time	Title	Posts
22/10/2019	09:20	SAVANNAH RESOURCES - Copper, Lithium, THM	2,436
18/10/2018	20:31	Savannah Resources INTERVIEW with CEO David Archer	2
18/6/2018	15:32	Interview with Savannah Resources	4
07/3/2018	14:11	Interview with Savannah Resources	-
20/9/2017	08:08	Savannah Resources (SAV) : CEO invested Ј500k and taking no salary	2,853

Add a New Thread

Savannah Resources (SAV) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
15:22:52	2.48	52,525	1,299.99	O
15:18:37	2.41	100,000	2,405.00	O
14:30:55	2.40	7,832	188.05	O
13:47:39	2.48	100,000	2,480.00	O
12:38:28	2.48	3,000	74.40	O

View all Savannah Resources trades in real-time

Savannah Resources (SAV) Top Chat Posts

Date	Subject
22/10/2019 09:20	Savannah Resources Daily Update: Savannah Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker SAV. The last closing price for Savannah Resources was 2.50p. Savannah Resources Plc has a 4 week average price of 1.85p and a 12 week average price of 1.85p. The 1 year high share price is 7p while the 1 year low share price is currently 1.85p. There are currently 881,451,795 shares in issue and the average daily traded volume is 2,693,933 shares. The market capitalisation of Savannah Resources Plc is £21,595,568.98. Read Full Thread Reply
29/8/2019 08:15	highly geared: Yes, I’m c £20k down on my investment which is sizeable for me. I suspect major shareholders have been de-risking portfolios for some time and selling down what are perceived as high risk investments which SAV is one. Looking at SAV , unfortunately and often for reasons outside the companies control, it hasn’t delivered a single share value enhancing milestone. Oman has been an unmitigated disaster (that was my main reason for investing). If the mine licences ever get granted, they’re c.3 years late on original timescales. The Portugal Lithium has been a saviour, in part, and the pace of resource drilling impressive but we were promised DFS Q1 2019 and that has now ‘moved out’ by c 1 year for ‘project economics ‘ reasons. Mozambique, next decade , next century....? The issue with the market’s is timing is everything. We’ve missed the boat for now on copper, Lithium hopefully but our track record... write off Moz re: pace of progress. Major investors are thinking, market crash around the corner, sell down risky stocks. So , just when SAV will need to raise major equity to fund Portugal, the share price is likely to be at new lows and we potentially see horrendous dilution. Seen it so many times on AIM. Archer has a serious shareholding and put in £500k of his own cash years back so his and our interests are aligned. But, it’s all about financing projects and the constant delays have taken us to exactly the wrong point in the market cycle. I sincerely hope to be proved wrong as I’d like to recover my money but I’m not optimistic. Read Full Thread Follow Reply
15/8/2019 14:00	guitarsolo: FGR, someone "dumping" 300,000 shares is nothing.....I have more than that! Anyone analysing this share would easily see that it has three assets; Oman, Mozambique and Portugal. Oman: Most people thought this was dead after the failure to procure a mining license despite all 8 ministries saying they were OK with the application. Then, voila! It arrives. But if you listen to what Dave Archer has said, there is a good chance he would sell this at the right price to avoid trying to launch projects simultaneously. Probably very sensible if a good price/buyer can be acquired. Mozambique: A monster potential asset (what is the LoM value? $4bn?). It's a dry mine and you have Rio Tinto as a partner. Mozambique is Africa but if they can get this to operation it will be very valuable. True, it has been a slow grind since 2017 but a PFS is due perhaps H1 next year I hope. That will say whether it is a project to push through or not. Portgual: The real prize (for now anyway). Electric vehicles are the ONLY viable option over the next 20 years to do something about transport's contribution to climate change. The only viable option for batteries at the moment is Lithium-ion (compared to the zinc or carbon alternatives). There is no shortage of Li in the ground, so it is a race to extract it cheaply to be first to market. That is why David Archer is push push pushing this ASAP. Mina do Barrosa is not the largest Li asset in the world (DRC, Mexico, Australia etc are bigger). But it is the biggest in Europe and, being in Portugal, has easy transport routes to the major European motor manufacturers. If any of the above assets by themselves got into full production, it would be worth $250-500m less the capex to get there. So that's 20-50p per share based on c.1bn shares. If Oman is sold and provides some or much of the capex for Portugal, then you are looking at the high end of that range in my opinion. That's a lot of "ifs" but this is easily a 10-bagger from here if it is successful. Add on Mozambique and it could be huge. The recent underwritten issue at 9p is probably a bit disappointed. But anyone who is not in this for at least 3-5 years has mis-read the investment. We won't know much until Portugal's full feasibility is complete and then, and only then, will Dave Archer complete off-takes with the likes to VW and Renault. If you don't have that kind of patience, invest elsewhere. Or at least don't spend every day worrying about the share price and volumes. Guitarsolo (Sorry about the double post before.....novice with this site!) Read Full Thread Follow Reply
14/8/2019 11:05	busraker1: It's probably just the weak lithium price lull over the Summer as per most other lithium shares around the world. However, in more speculative moments I wonder if they are book building towards something like a 700m share placing at 3.5p to raise $30m towards the $100m+ mine capex as part of the terms of, say, a $70m loan deal from an outside party and perhaps some $15m/$20m advance from an offtake partner etc etc. SAV will have to raise a lot of money this side of Christmas, or before Spring, in theory if they are moving at the speed they suggest?? This mine could be moving towards $200m per annum revenues from 2021. I can't imagine someone providing a large loan without seeing a financial commitment from SAV too. But, that's all speculation. I don't know anything other than the kind of deals other lithium mines have put together and the fact the price has moved down quite quickly. It may be too early for the financing yet, but you'd expect equity to be part of the finance deal. Not great timing to have to do it re. the share price at the moment, so hopefully I'm entirely wrong! All imho... Read Full Thread Follow Reply
13/8/2019 07:53	fqr714bhp: ALL THEY DO IS TALK, TALK, TALK, IN THIS COMPANY, and the share price reflects that. What we need is firm contracts and off takes. ============================================= There is no point at all having 100's millions of £ worth of stuff in the ground, IF NO ONE WANTS IT OR CANT SELL IT. LOL. Watch the share price fall even further today, i did say 2p a few weeks ago????????????? Read Full Thread Follow Reply
08/8/2019 21:13	busraker1: He did mention a possible sale of the Oman asset but his preference was to put it in to a separate entity to ringfence it away from Portugal, because financing both projects within SAV would be 'challenging'...and you'd have to agree with that. I guess that would mean SAV retaining the controlling share in that entity, but it can sort its own financing out without diluting SAV. In other words he'd prefer to retain majority ownership and have access to the future rewards rather than sell it off too cheap now. He talked about making it a mid-cap copper mining company, so that's a few hundred million mkt cap....as opposed to selling now for a tenth of that. SAV may find it hard in the current environment to find financing for the Lithium mine, unless the lithium price and our share price rise this year rather than next which is possible. Of course, Europe may be keen to finance things hopefully. It is likely to involve some equity and the recent broker note had the assumption that SAV would issue another 700m shares to raise their part of the money for the lithium mine, plus hopefully a big loan etc. I hope that's 350m shares at 10p and not 700m at 5p! Personally, I think the lithium price will start to rise in response to growing demand within the next 3 to 9 months, which would encourage greater financing to come on tap. Some negative forecasters, including Morgan Stanley, still think we will be in an increasing lithium supply glut through to 2023. If that proves to be the case then we should all move on now! They will turn soon enough when it suits them!! Some smaller independent forecasters think the demand will be 2 to 3 times that forecast by some of these big players. In that case, we'll get the promised lithium price surge and it should stay high for a little while. In those peaks we'll get our share price rewards, assuming SAV haven't really messed up the difficult steps that still lie ahead. imho. Read Full Thread Follow Reply
23/7/2019 13:30	busraker1: Interesting article on Nemaska Lithium struggles in Canada, finally receiving extra $600m to cover the cost overruns of their Lithium mine construction and hydroxide plant. Heavily dilutive investment to achieve that, knocking potential share price gains. SAV sticking to a much smaller initial Capex and being in Europe where financing 'may' come easier, could fare a lot better. Time will tell of course. business.financialpost.com/commodities/mining/nemaska-announces-potential-massive-equity-investment-to-save-lithium-project-in-quebec Read Full Thread Follow Reply
21/6/2019 09:16	rickyhatton: From another poster. "Savannah, via an issue of new shares to the vendors, is acquiring the outstanding 25% minority stake in its advanced Mina do Barroso (MdB) spodumene hard rock lithium project in Portugal. The deal, struck at 5.63 p/share, values 25% of MdB at £9.1m. MdB’s Bankable Feasibility Study (BFS) Completed By Year End In a July 2018 Scoping Study, a post-tax NPV of £184m, was estimated at an 8% discount rate. Since then, the company has started a BFS to be completed by year end. By drilling they have increased resources and have upgraded from inferred into indicated and measured. Analytical testing has shown that already low levels of iron are smaller than originally expected and metallurgical and marketing work has shown much greater potential for by-product revenues. However, in line with all lithium markets, the price of spodumene concentrates have fallen from the US$900/t highs seen in July 2018, hence, the conservative $685/t assumed then, is around the current price and the financial numbers in the BFS may be pulled in opposite directions. Shares Trading At Big Discount To Our Valuation If 25% of MdB is worth £9.1m, so 100% of MdB is £36.3m or 3.5p/share, or 70% of the current share price. 75% of the £184m project NPV is £138m, which is 13.2p or 2.6 times the current share price. Savannah retains ownership of 20% of a Heavy Mineral Sands project in Mozambique and varying majority holdings in two Omani copper projects. In spite of little recent visible signs of progress on either, we maintain our respective £25m and £5m valuations. There is dilution with the share issues, but this is offset by the move to 100% ownership of MdB. Hence, our Savannah valuation increases to £170m from £140m, but our per share valuation slips to 16.2p from 17p. Europe’s Most Significant Spodumene Project This MdB deal is very good and gives Savannah 100% ownership of Europe’s most significant spodumene hard rock lithium project at a cheap price. It simplifies the company’s structure and reduces project funding uncertainties." Read Full Thread Follow Reply
11/6/2019 16:16	busraker1: It's interesting looking at other Lithium mining companies around the world and what they're up to. Most of them ,juniors at least, have the same shaped share price chart as SAV, including the spike in mid 2018. It shows you how they are moving to the same tune often, which is the Spodumene or Hydroxide / Carbonate pricing. There does indeed seem to be a serious undervaluing of lithium stocks globally at the moment after a long downtrend and this seems to be quite at odds with the more optimistic demand curve for the material over the next few years. It depends who you listen to about whether there might be a lithium oversupply or whether the demand for batteries will be so strong as to outrun the supply. Personally, in a fast moving market I expect there to be a price spike or two taking lithium shares with it at a time that may or may not be related to how near production your particular lithium share happens to be! Rio Tinto's huge lithium borate mine at Jadar in Serbia has had some commentators suggesting it should be delayed (beyond current 2023 startup plans) because it might tip the market enough to reach oversupply etc in 2024 onwards, but who knows. The point is, it's important to watch the wider market and lithium pricing. Comparing SAV to many global lithium miners I do like our project economics. We have one of the shortest payback periods at 1.7 years and one of the highest IRRs. It will help with financing. I think it will be very necessary to have a lithium hydroxide plant soonish. Otherwise, you end up sending the spodumene to China or somewhere before it comes back to Europe, but really Europe is looking at integrating the process from mine to car manufacture within its boundaries. Hopefully, Europe is keen to offer financing though. One of the companies that caught my eye is Piedmont Lithium in the US of A. Mainly because it's almost a carbon copy of Savannah. Similar sized mine, similar healthy economics, identical timescales, £63m mkt cap. Interestingly, they have a plan to make capex financing easier i.e. they intend financing initial capex and mining spodumene for the first two years with $70m or so free cash flow each year, then using some of that cash to fund a lithium hydroxide plant after two years, with the other half of the cash required for the plant coming from outside financing. The plant would be $250m or so. This looks a smart model. Bacanora seemed to come unstuck at their huge Mexico Lithium mine because they went all in for starting the mine at full capacity with a hydroxide plant from the start, and $700m or so capital expenditure. They seemingly couldn't swallow all that, worried people they might go bust, and in the end have given 50% of the mine to Ganfeng for about $30m or so (peanuts) who will now provide expertise, some financing, offtake etc, so it is more stable now. They also have the smaller Zinnwald Lithium mine in Germany, about the same size as Mina do Barosso, but about 1 year behind SAV. All that and yet only £35m mkt cap due to the large financing issues they've given themselves. So, it shows you have to be smart and not swallow too big a financial requirement before you can run, or else risk becoming someone else's slave for a cheap price....hope I'm not doing BCN a disservice here. I like SAV's capex of $109m to build the spodumene mine, as it's fairly 'modest' for their mkt cap. Before they release plans for a hydroxide plant, I'd like to either hear a cashflow plan like Piedmont's or, even better, if someone like the European Investment Bank is willing to finance the bulk of it without too much risk because Europe is so keen to secure lithium supply. I see Infinity Lithium are planning a full hydroxide plant from day one for their mine in San Jose, Spain. They're a year behind us it seems. They have a low grade mine, claiming to be 111Mt at 0.61%. They claim to be Europe's second largest. However, that's using a cutoff of 0.1%. It seems at a higher cutoff they actually have 25.2Mt at 0.9%, smaller than SAV. European Metals lithium mine at Cinovec, Czech Republic, claims the largest in Europe crown with 695Mt at 0.4% with a 0.1% cutoff. Not sure what that is at a higher cutoff. SAV use 0.5% as their cutoff grade. Clearly, San Jose and Cinovec are bigger in the sense that they have much higher Mt of lithium contained, but at low grades. Rio Tinto's at Jadar, Serbia looks the biggest really. 135Mt at 1.86%. I think there's more than enough lithium to meet demand. It's just the timing of how quickly mines can start up compared to demand etc. It really isn't always straightforward bringing them online. Nemaska in Canada has had huge cost blowouts and have had to go looking for another $300m financing, putting the whole thing at risk and dropping the share price accordingly. When there is a price crunch due to some oversupply, be it 2023 or 2028, who knows!, one form of protection is having one of the lower cost mines. Hence the project economics are important. Again, I like SAV. Some of the Aussie mines are quite high cost, though they are now incorporating very large hydroxide plants to extract more revenue and profit from their resource. It's interesting to see Galaxy Resources at Mt. Cattlin in AUS about 3 yrs ahead of SAV, in to their second proper year of mining spodumene on a similar size resource to SAV, and doing 180,000tpa, which is about what our Scoping Study suggested we'd do. They had 2018 revenues of $153.9m, EBITDA / Free Cash Flow of $70m and market cap (ex. cash) of around £250m ish, but were nearly 3 times higher in the late 2018 price spike. On the occasion I've found some lithium companies seemingly more undervalued than SAV, I've also usually found some reasons why that may be justified, or where they're having some wobbly financing issues etc, of where I don't like the project economics as much. I've not felt tempted to put money elsewhere. Many of them are currently cheap though, in my view, not just SAV. I can certainly see why SAV are going as fast as they can to get to production. They're at the front of the line in Europe, with others pushing hard too. Keliber's lithium mine in Norway is marginally ahead, though smaller. Keliber report interest from carmakers themselves to either take a stake in the lithium company or get involved in financing to secure supplies near home etc. Carmakers investing in mining companies seems to be a pretty new thing! Europe is the world's second largest carmaker, so they need to play catchup in the lithium space to not be held to ransom if supply gets tight and to avoid import tax, transport costs etc. That's a very generalised round up. Lots more that could be said. Hope it's of interest. Read Full Thread Follow Reply
14/6/2018 07:41	nick9013: So 356mn USD is gbp 265mn, or 200mn gbp net to sav...thats 28p net SAV share price worth! Strap in folks Read Full Thread Follow Reply
25/7/2016 20:17	seagullsslimjim: BORROWED FROM THE OTEHR BOARD - A Great Summary of SAV for newbies looking in and its undeniable potential in the short, medium and long term !......... "I have been scouting investment ideas in Natural resources companies for weeks/months now and I can't find companies with solid fundamentals and great upside from current share prices. There are a few listed minnows trading below cash value (or equivalents), which is attractive, but the liquidity is often very poor and the upside is limited to that cash amount (which happens to burn fast due to directors salaries and other admin costs and lack of growth prospects). So where do we stand with SAV? First the subjective/qualitative part: I have met David Archer several times and I think he is the right type of executive. Calm, humble but focused on the objective. His past record suggests he's been successful multiple times thanks to those attributes. For more info on DA, check out the article from 2008 in The Australian website. The title of the article is �wine hills overflow with miners�. His technical director Dale Ferguson is also top quality with proven successes in the past and a great attitude. Btw, all this talk above might sound abstract or too subjective to be taken seriously but this matters enormously in the end (notice how warren buffett insist on the quality of his managers). So many CEOs & directors in small listed companies only do their job to afford a decent lifestyle and enjoy the upside if the macro momentum helps their share prices (I don't actually blame them as long as they do it legally but for investors, this is often painful). DA is a genuine company builder with a personal interest in generating wealth for himself over the medium term. Now to the objective/quantitative part: HMS in Mozambique: To put it simply: this is potentially huge. A bit of history: Dale Ferguson noticed this company Matilda struggling for cash, seating on this virgin field, adjacent to RioTinto world class Mutamba deposit. He realizes that it is very likely some of the Mutamba deposit might extend into the Jangamo tenement. So he alerts David and they quickly make an approach. After a few surveys and drills, they realize they do indeed sit on a potentially major deposit of their own. As promised, they published a JORC resource before year end 2014 (which due to misunderstanding on the part of some private investors/bloggers disappointed the market), To prove that the Jangamo tenement and the small JORC defined were the real deal, David managed to get Rio Tinto to sign a JV agreement (yet to be approved by the government I know) to join their combined deposit and let Savannah take care of the project. The reason Rio did this deal is to avoid losing their licence after having spent dozen of millions of $ (one needs to keep progressing/spending to maintain ownership of the licence) while focusing on other commodities (iron ore, copper..) for the time being. Note that Rio, at anytime, can kick SAV out of the deal if they wish to.but at a cost. This works as follows (assuming the JV is approved by the govt..could be any time now): Right now, SAV would own 10% of the joint deposit. At this stage Rio can decide to cancel the JV and pay a multiple of the costs we incurred on our Jangamo tenement. My understanding is that it could be worth a few millions USD. To be honest, this would be a very disappointing scenario but I think its almost impossible this happens and if it were to happen, so SAV is left with their Jangamo tenement (as per the current situation) with a few millions USD in the bank account. So we could progress our tenement further (without Rio) or focus the cash on our Omani activities. So it would still be decent situation for SAV to be in but I much prefer staying in the JV for the time being. The reason why I think its almost impossible we get kicked out at 10% stage is because the point of this JV is for Rio to not be involved in the project in the short term. What I think is more likely to happen is that Rio starts to wake up when the nascent recovery in HMS prices materialize further and the project starts to take shape (PFS or DFS stage). And in that case, im OK with SAV getting kicked out ! Heres why: Once we have the government approval, SAV is gonna rush to get a scoping study out. This is likely to take a few months only. At that stage, SAV gains 20% of the JV and the kick-out terms becomes the payback of the NPV of the SAVs share of the JV. My understanding from David is that he wants to focus on developing a mine plan for the first 200mln tonne of very high grade deposit. We are talking about 10%+ grades for the first 100-200mln tonnes. If you have a look at Base resources and the research reports, this is exactly how they did it and this create NPV (net of capex) around $ 400mln. So 20% of $400mln is approx worth 15p/share. I believe this is the worst case scenario ! After the scoping study, we get 35% ownership of the JV once we publish a PFS and then 51% with a DFS. This takes you to a value of 26p/share and 38p/share respectively net to SAV. And this is for the first 200mln tone mine plan. Don't forget the JV has billions of tones at 3-5% grade (as per Rios published data). The entire JV has the potential (very long term) for multi-billion NPVs. Onto copper in Oman: So here is a very different approach, more in line with David and Dales past experience: small, high grade, low capex, quick payback, high IRR. To be clear the Oman copper project is unlikely to ever attract a major mining company. And this is because the total size of the project is irrelevant for the multibillion mcap majors. However, this is amazing economics for the small and medium size companies. And the payback is very quick. As David mentioned several times, he plans to produce before year-end 2017, that is less than 18 months away. We are still waiting for further results from the drilling campaign but David and Dale feel very confident they have enough deposit to produce over 300k tonnes of copper over time (with gold upside). This kind of project can easily generate 50-100mln $ of cash flow per year. SAV retains on average 65% of the ownership of the licences across the blocks. So those cash flows can be quite meaningful to SAV once they kick in (starting end 2017). By assuming the mine will generate $75mln/year and that SAV will lose another third of the project due to dilutive financing (I have good news there too) and that the mine produces for only 7 years, this project would be worth over 20p/share to SAV. Now comes the good news: Since we plan to produce by yearend 2017, it means we need the money for Capex very soon and start developing the mine. We have one major investor in the name of Al Marjan. Now that we have the board members RNS, we realize that those guys are uber influential in Oman business (former minister for industry and former head of chamber of commerce, board member of large commercial bank). I would like to think that they will plan a key role in helping SAV getting the financing for the capex in Oman. This could be in the form of MDO, the new agency in charge of developing non-oil projects to boost the economy or a loan from a commercial bank. This means it is very likely we DON'T lose another third of the project economics. This would make the above numbers (20p./share NPV Oman) too conservative. All the number above assume 400mln Shares (TVR is currently 385mln but there are some warrants/options that would be exercised if we keep rallying). You could be very conservative and round up the share count to 500mln shares (20% extra dilution at Co level). This would make the numbers mentioned above still very attractive(like 17p/share instead of 20p for oman copper and 12p/21p/31p for the first 200mn tone in Moz @ 20%/35%/51% respectively). So as you can imagine I believe the current share price of 4.5p (£17mn mcap) offers amazing value." Read Full Thread Follow Reply

Savannah Resources share price data is direct from the London Stock Exchange

Your Recent History

LSE

SAV

Savannah R..

Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

ADVFN UK Investors Hub ADVFN Italy ADVFN Australia ADVFN Brazil

ADVFN Canada ADVFN Germany ADVFN Japan ADVFN Mexico

ADVFN France ADVFN US Finance Manila

P: V: D:20191022 19:27:57