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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 | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.10 | -2.82% | 3.45 | 3.30 | 3.60 | 3.50 | 3.45 | 3.50 | 1,458,973 | 16:09:57 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 0 | -2.86M | -0.0016 | -21.56 | 63.07M |
Date | Subject | Author | Discuss |
---|---|---|---|
08/2/2022 16:22 | No, just what was mentioned in the article. It's Fernandes meeting with each of the municipalities where there is a tender. That is my understanding. It's separate from the DIA. That announcement could still come at any time but how long have we been saying that? | ged5 | |
08/2/2022 15:58 | Hi Ged, have you a link anything more on the meeting. I can't believe how long this has dragged on now. | ukgeorge | |
08/2/2022 09:49 | Meeting this Wednesday to Friday with all municipalities involved. Article tweeted today by BHL: | ged5 | |
07/2/2022 12:02 | It is going to be very interesting to see what sort of deal can be done if we get the DIA. The auto makers must be panicking about the supply of lithium. Surely we are in a great position. Surely they can stump up some cash (for capex) if they want to have an offtake agreement. Or is Galp going to step in. Amazing how little interest there seems to be, seemingly so close. Atlantic Lithium's share price did next to nothing last year, despite tons of good news and then suddenly 2022 everyone has woken up and its up 70% ish. Praying that we get similar with SAV. | ukgeorge | |
07/2/2022 11:31 | Yes but share price Angel has not worked magic on S.P. | desflurane | |
07/2/2022 11:20 | Wow, that's encouraging to say the least. | jimbomorry | |
07/2/2022 11:20 | Wow, that's encouraging to say the least. | jimbomorry | |
07/2/2022 11:10 | Savannah Resources* (SAV LN) – BUY, Target 17.9p – Barroso Lithium Project Update BUY – 17.9p • The Company has been added as the counter-interested party in litigation brought by the Parish of Covas do Barroso against the Republic of Portugal and Ministry of Economy. • The litigation aims to cancel a number of decisions from mid-2016 including the addition of lithium to and the expansion in the area of the C-100 Mining Lease. • The lease that was fully granted has a term of 30 years contains the Barroso Lithium Project. • The litigation does not impact the Barroso Lithium Project’s activities as well as the ongoing environmental impact assessment process. • The lease is reported to be in good standing with no issues having been raised over it since it was granted five years ago. • The Company advises that the claim is without foundation and will be challenged by Savannah. *SP Angel act as Nomad to Savannah Resources | ukgeorge | |
07/2/2022 11:02 | A World Bank report recently forecasted that we would need more than 3 billion tons of metals and minerals to limit the rise in global temperatures by 2 degrees by 2050. That's more than 3 billion tons in raw materials for solar, wind, and battery storage. The World Bank is not the only one. The International Monetary Fund reported in December that the future demand for metals and minerals may well top the current global supply. The IMF also said that "The needed ramp-up in mining investment and operations could be challenging." | ged5 | |
07/2/2022 10:53 | Not to SAV, to the Portuguese government. | ged5 | |
07/2/2022 10:50 | Cut of 50% in royalties changes the outlook substantially | jnbrw | |
07/2/2022 09:44 | Your posting on the wrong tread! | 1teemore | |
07/2/2022 08:30 | In other news, i3e up again & advancing towards the 20s.Oh, well, one day DA or should I say rodder?Gl all | goodday1 | |
06/2/2022 17:47 | What? Are you reading the same article? This from another article:- "This process was also accompanied by a revision of the mining law, which "clearly highlights the much greater environmental care and concern for social justice". The new law also provides that the "earnings from mining are now shared, up to 50% with the municipalities". "Before that, they were 100% from the central state", to whom the subsoil resources belong." So is this what the litigation brought by the Parish of Covas do Barroso is all about. They want half the royalties. OK that's enough. Peppered steak time. | ged5 | |
06/2/2022 17:33 | Thanks Ged 5. Really interesting and helpful post, thank you. Probably best us PIs sell: the Government has no plans to promote mining and 5 lots already foundered for environmental reasons. Ain't looking too good. | jimbomorry | |
06/2/2022 17:31 | Slightly different wording in this article:- The minister took the opportunity to call the populations to the discussion and defended that "this is the time to talk with all the municipalities involved". To this end, there will be meetings between next Wednesday and Friday. Matos Fernandes also stressed that "there will never be exploration without Environmental Assessment". Therefore, the services of the Ministry of the Environment and Climate Action have 60 days to prepare the tender documents. The proposals to be presented must comply with four essential elements: "Presentation of the investment programme; presentation of the general programme of work; commitment to an industrial project; and a tax benefits plan. Matos Fernandes said that the tenders would "always" include a member of the jury appointed by local authorities and that lithium processing would always take place on national soil: "Not a gram of this lithium will be processed outside Portugal. We will never sell it raw", he concluded. | ged5 | |
06/2/2022 17:17 | Good post Ged- | tomboyb | |
06/2/2022 17:14 | Portugal has, as never before, the conditions to lead the energy transition. We have vast endogenous energy resources - wind, sun and water - to become autonomous. And we are considered the country in Europe with the largest lithium reserves. Creating an economic chain around lithium, following the most demanding environmental standards, is therefore necessary for us to build a new cycle based on sustainability. Europe only has 9% of the raw materials critical to its development. Our resources are therefore a guarantee against rising prices and difficulties in their supply. This Government has no plans to promote mining. It wants to use lithium to refine it (Portugal may be the first country in Europe to have a refinery), produce cells and batteries and recycle them. Note: lithium is crucial to the energy and digital transition. The process underway is unique. There is no memory of the State promoting a tender to explore a geological resource. What is usual is that it is done individually, at the request of interested parties. We did it differently. The National Laboratory of Energy and Geology began by concluding that there were 11 areas with potential for lithium. From these, we removed three that were in protected areas and from the remaining eight we eliminated the parts that were in the Natura Network. A strategic environmental assessment was then drawn up. The result: two sites fell (Serra de Arga and Segura) and the area of the remaining six was halved. Result: 1492 square kilometres, 1.6% of the country. This is the area to be subject, through an international tender, to research and prospection. Now, on average, one of these mines occupies 1% of the area being researched. Therefore, in the maximalist scenario - and only after more environmental impact studies before exploration - about 15 kilometres of the country will be occupied by lithium mines. In 2021, regulations for the mines were approved, with more environmental care and social justice. Royalties from mining will be shared up to 50% with municipalities. Exploration is subject to environmental monitoring and recovery. And there will never be exploration without environmental assessment of each project. (To those who say this is a formality, I counter: five lots have already fallen by the wayside for environmental reasons). Finally, if in the prospecting phase the creation of jobs is marginal, at the time of exploration thousands of jobs may be created in the mining and industrial sectors. We are now preparing the tender for the six lots. All the local authorities involved will be consulted and we will meet with all of them. We will propose that the jury includes a member appointed by the local authorities concerned. And, as I said, no tender will be won by anyone who does not present an industrial project associated with the exploitation of this metal. Thus, with more environmental care, with the right geological resources and with renewable and endogenous energy, we will create the lithium value chain - and we can lead the ongoing energy transition. Minister for Environment and Climate Action | ged5 | |
06/2/2022 17:11 | Thanks IB. Answering my own question the red area is 542ha. I'm not really sure why SAV are even bothering about this if it's about a decision made in 2016. Surely they only need to challenge if the litigation goes against the Portuguese Government. Reading that article it looks like decisions have been made about lithium mining and processing. | ged5 | |
06/2/2022 14:42 | https://www.jn.pt/ec | inbrackets | |
06/2/2022 12:09 | Thanks! I'm sure some of that will become relevant if SAV apply for new tenements. If the RNS is relevant to SAV it's only because of potential delay and I'm not sure there's any reason for a delay. The decision could still come at any time. I could become cynical. Nah that happened years ago. Imerys Ceramics had the mining rights at Mina do Barroso for Feldspar, Quartz and other minerals. It looks like they had 120ha. Then the bone of contention:- This Mining Plan approved by DGEG, (The Directorate-General for Energy and Geology) in 2010, gave rise to the amendment to the Concession Agreement, concluded in 2016, having expanded the concession area to about 542 ha and lithium was included as a minable substance. Back in 2017 SAV tweeted:- "Portuguese govt has established a #lithium working group to bring focus to the dev of Li industries in #portugal" Earlier that year Slipstream PORT Pty Ltd became a subsidiary of SAV and was directly held by SAV. Slipstream Reaources is listed for the first time as a subsidiary of SAV. Mina do Barroso was bought in March 2017 from Imerys Ceramics by Slipstream who then sold it to SAV. Presumably that's when Slipstream became a subsidiary. What I'm not sure about are the boundaries on Page 6. Is the increase from 120 to 542 included in the red area and the yellow area is a new extension being applied for? At first I thought the litigation was about the yellow area but that doesn't make sense. But I'm not sure anything about the litigation makes sense! | ged5 | |
06/2/2022 08:58 | Https://auto.economi | gardenboy | |
06/2/2022 08:38 | Https://www.euronews | gardenboy | |
05/2/2022 18:13 | As I said, looks like the EIA is in the bag so this is just a thorn in the side that will hopefully disappear fairly quickly and when it does then let's enjoy the RNS that the plaintiffs have come to their senses. Wouldn't it be a great scenario for SAV to also win multiple tenders for lithium mining in Portugal and hold all the cards...it's there for the taking. | flc |
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