Savannah Resources Share Discussion Threads

[broncowarrior] 07/3/2018 17:11

Also completely agree that is why people are sitting on their hands. So much going on that people realise that is expensive and it is likely to happen fairly soon.

[broncowarrior] 07/3/2018 17:10

Last placing price was v good in my view. I'd rather they just raised as much as they can so that they are sorted for most of the rest of the year. If they can get 10mm, do it.

[paleje] 07/3/2018 16:35

I assumed Beaufort were involved but happy to be corrected. Either way the price wasn't so bad but the warrants could have been higher I thought. The picture has improved since then so we'll see.

[inbrackets] 07/3/2018 16:27

I understood that Beauforts were not involved with the last placing at all. All internal existing sticky holders. They had just been re-appointed but no reason why SAV should pay any fees to them and there weren't.Whenever it happens, it may offer a chance for another solid cornerstone to be laid and to my mind at least, have tended to be fairly priced.

[paleje] 07/3/2018 16:12

Think that's what's keeping people sitting on their hands for now. Plus a bit of suspicion over Oman or so it seemed on LSE earlier.

Would be nice if there is, and realistically there has to be at some point, it was on better terms than the last one which Beaufort were involve in but obviously aren't now.

[broncowarrior] 07/3/2018 13:26

Imagine another placing will be on the cards quite soon, 3 rigs aren't cheap but we need to keep accelerating exploration.

[edgein] 07/3/2018 10:54

Pale,

Much much less, grades are king as DA said before, our grades are significantly higher. Even better still if they're talking a grade of 1.7% for the sample tested for metallurgy. Scoping study will be picked over that's for sure and there's plenty of scope to add to this 9.1Mt maiden for Gran and Reserv. There's two screaming buys for the quality of the lith assets and this sure is one of them. Cap here if divided between the assets its around £13m for each Oman, Portugal and Mozambique (I'm not including current cash on hand). £13m looks ridiculously low for the high grade copper asset and totally ridiculous for each of our much more significant assets. Market will wise up to these oversold miners eventually, by then it could be too late. I just hope DA can keep storming ahead with these three rigs before a vulture moves in. One of the big car manufacturers could snap these up with pocket change for them and secure about the best highest grade hard rock lith development in Europe. SAV have only scratched the surface of this 10km prospective trend, but with 3 rigs now in place they'll get a lot of shallow holes drilled fast. When they start reporting on the holes drilled since the start of the year and factor those in and the next few months of drilling that tonnage should move up nicely. Market didn't really catch on to the fact that the maiden is only on drilling in 2017 and DA and team certainly aren't sitting on their hands at present.

Regards,
Ed.

[paleje] 07/3/2018 00:20

Nice to be able to compare some views under one roof, thanks.

'CEO Archer told Verdict it made a “major breakthrough” last week that increased the size of the overall resource to 10 million tons of 1% lithium.

We haven't been credited for that yet, nor has the spodumene aspect been understood. Cinvec for instance is going to need at least $400m, what is our capex going to be and how will our extraction costs compare. And last but not least who's going to be in production first.

[ged5] 06/3/2018 20:12

Thanks to Salvegrumio elsewhere. Some familiar names sharing their views. SAV, KOD BCN SQM, Lithium-X and Wealth minerals all represented. I'm sure others will find it interesting if not useful.

[inbrackets] 06/3/2018 14:30

He's been hitting the phone lines today. And yes, he's in Oman.Seem to remember they made a similar trip last year prior to the results, presumably after running through things with main shareholder. They should be extremely happy bunnies with the prospects that are now taking shape.

[ged5] 06/3/2018 14:29

Ah, so now we know he's in Oman. With the CFO perhaps? Things hotting up.

Hxxp://www.proactiveinvestors.co.uk/companies/stocktube/8847/savannah-resources-able-to-produce-low-impurity-higher-margin-lithium-8847.html

[ged5] 06/3/2018 14:00

Thanks IB.

Perhaps Oman! News soon from there I feel.

[inbrackets] 06/3/2018 13:38

https://www.directorstalk.net/interview-savannah-resources-encouraging-results-series-follow/He sounds miles away.

[ged5] 06/3/2018 10:25

OK. Thank you.

[edgein] 06/3/2018 10:14

Ged,

From the last announcement:

"Further improvements are expected as part of Phase 3 of the test work programme currently underway - diamond drilling is underway at Grandao and Reservatorio to collect additional samples for the Phase 3 test programme, with results expected in Q3 2018"

Specifically test work programme underway at both Grandao and Reservatario with the diamond rigs. The second diamond rig was to be here any day according to previous interviews, I'd interpret the above statement suggesting diamond drilling currently underway at the two main deposits to mean its here and its operating. The pace at which SAV are operating this doesn't come as a surprise. They've talked about accelerating and aggressively moving this forward and that's what they've done. They'll mount up some significant metres over the next few months with the three rigs and are already building a team of experienced lith miners to get this one to production. Plenty of news flow to come.

Regards,
Ed.

[ged5] 06/3/2018 09:35

Thanks Ed for your further explanation. Interesting point about the scope to upgrade the reserves without drilling. Speculative maybe but the increase could be around 15% possibly higher.

Did I miss something? Is the 3rd rig already in place?

[edgein] 06/3/2018 09:04

Ged,

Good posts, yes the general public didn't see the significance of the recent news release. The fact that they can get high recoveries from just gravity and flotation in combination with the high grades and shallow pit is certainly ideal. Also no real reaction to the fact that the metallurgic test sample return grades of ore treated much higher than those reported from the assays. If they consistently do that then there is scope to upgrade the reserves without drilling. The diamond drill holes will give more accurate grades than the RC drilling. We've now two diamond rigs in action as well as the RC rig.

Regards,
Ed.

[ged5] 06/3/2018 08:46

You did indeed, paleje.

DA is constantly trying to get the message across about the spodomene. Martin Potts was impressed, Martin Steinbold must have been impressed and now Noel O'Brien must have been impressed.

"Noel is a metallurgist and lithium processing expert, who is currently a technical adviser to Tawana Resources Limited on its Bald Hill lithium project and Kidman Resources Limited on the Mount Holland lithium project. Previously, Mr O’Brien was a technical consultant to the Galaxy Resources lithium project in Western Australia and the Bikita Minerals lithium project in Zimbabwe."

[paleje] 05/3/2018 15:34

That makes sense to me Ged, thanks.

Like BW I'm not strong on the science stuff but spodumene was emphasised by DA when I met him a couple of months ago and I think I may have mentioned it on here at the time although he didn't go into the reasons why and I was too stupid to ask. What you've just printed explains it.

I was also thinking about the share price target ~11p which was from a couple of broker notes in October but they will need to be upgraded because circumstances have improved since then and look to continue to do so.

[ged5] 05/3/2018 14:43

A follow up to my post 477.

The Stuttgart bourse listing is historical and has little or no relevance to SAV. I seem to remember at least one company in the past that were listed elsewhere without the knowledge of the company.

I also enquired about the concentration plant. I hope this helps others as it did me:-

"In respect of “concentration plant” in Portugal, we will need to crush, grind and float the mined material, but we will not need an additional chemical plant (which costs around three times more than a processing plant we need, and is what companies who don’t have spodumene need). That is the benefit of our spodumene dominant deposit, it fits in with existing lithium supply chain."

In today's RNS spodumene is shown to be dominant with very little petalite thus enabling low cost processing.

This is yet another very positive RNS moving us in the right direction.

[ged5] 05/3/2018 09:44

Thanks for the links paleje and seagulslimjim. So yet another financial body caught at fraud!

So Beauforts have gone and nothing to gain and yet excellent news from SAV this morning.

[broncowarrior] 05/3/2018 08:09

We are in the proper science stuff now, which is not my strong point!

[gymratt] 05/3/2018 07:57

Nice positive update ;@)

[edgein] 05/3/2018 07:52

Great news again out of these fellas, grade coming in from the sample at 1.7% lith, higher than the chips samples and the assays too! Capable of high recoveries to produce concentrate above 6%! All reads very well and they've hired another lith production expert to help with this project so still storming ahead towards development and good to see that the second diamond rig has now arrived and we've one on each of our two main current discoveries. Another hurdle easily crossed today with these metallurgic test results.

Regards,
Ed.