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
  -0.20 -4.4% 4.35 2,757,738 15:44:11
Bid Price Offer Price High Price Low Price Open Price
4.30 4.40 4.69 4.35 4.55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -3.38 -0.44 62
Last Trade Time Trade Type Trade Size Trade Price Currency
16:25:58 O 9,839 4.311 GBX

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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 4.55p.
Savannah Resources Plc has a 4 week average price of 4.30p and a 12 week average price of 2.95p.
The 1 year high share price is 5.90p while the 1 year low share price is currently 0.80p.
There are currently 1,430,991,035 shares in issue and the average daily traded volume is 3,288,575 shares. The market capitalisation of Savannah Resources Plc is £62,248,110.02.
sev22: SAV get a mention in another positive article in this week's Investors Chronicle. UK-listed lithium prospects firm up. After a false start three years ago, prospective producers appear to be on steadier ground. Picking major technological shifts doesn’t always equal huge investment gains, just ask any investor who put money into the dotcom boom two decades ago. A more recent example is from 2016 and 2017 when the automotive industry’s move from the internal combustion-engine to electric vehicles (EV) seemed a lock, and the mining industry jumped on board. The following years have largely proved that thesis. Major carmakers and governments are behind this shift and by the end of this decade EVs will dominate new car sales. But investors who initially dived in were left with large losses by 2019 and London companies struggled to get financing for mines. Lithium, cobalt and graphite prices also crashed as 2017-2019 supply overwhelmed demand. However, share prices are now back up, cash is flying in for mines to be built and new players focused on lithium, graphite, nickel and other EV-exposed raw materials are arriving. What do we need? Lithium, graphite, nickel, manganese and cobalt are key ingredients for lithium-ion batteries while copper and rare earths are also needed in large quantities for EV cars. Other demand drivers are stationary batteries, which are used as part of renewable energy systems. As we explored in our recent feature on EVs (‘Race to Riches’, 28 Jan), demand has shot up in recent years and is expected to grow even more sharply over the next decade. Spending on passenger and commercial EVs and electric buses climbed almost a third to $133bn in 2020, according to Bloomberg New Energy Finance, led by passenger car sales. Looking ahead, Benchmark Minerals Intelligence forecasts almost 200 battery “megafactories” will be built in the next 10 years, more than doubling the existing number. These factories are largely found in China, Japan and Korea, although capacity is slowly building in Europe and North America. Bacanora Lithium (BCN) offers a perfect example of the past five years in the battery metals sector. The company quickly rose from Aim tiddler to promising lithium option in London in 2016. Bacanora’s key prospect is the Sonora clay lithium deposit in Mexico. Construction at Sonora was set to begin in 2018 but a $100m equity raise was withdrawn three days after it was announced. The weaker lithium price and a large uptick in supply from Australian mines had scared off investors, causing its share price to fall from 137p at the start of 2018 to 25p a year later. But now site preparation has begun for the build, the share price hit a two-year high last month and production is looking likelier from 2023. Fellow Aim-listed Savannah Resources (SAV) is working on a mine in Portugal to supply European carmakers but is not as far into the development timeline as Bacanora. The forces driving the renewed interest in the sector are simple. “You've seen a significant increase in uptake in EVs in the last six months, and also you've seen the Europeans move down that EV path,” says Bacanora chief executive Peter Secker. “Tesla is building plants all over the world, which is great. And the Chinese are still moving down that route. They will be electric before the rest of the world.” Lithium has a range of pricing markets, based on how close it is to the product battery manufacturers need. Australia, which along with Chile is a major producer of the mineral, largely exports ore to China given the limited local processing capacity. This spodumene feedstock has not seen as much of a price improvement as lithium carbonate or hydroxide, or the battery-grade chemical product that is another stage removed from ore. Benchmark said the battery grade lithium carbonate price climbed over 40 per cent in January, to $9,450 a tonne (t). The price increase was less dramatic for raw materials, with spodumene up just 6 per cent in the same period. Lithium miners in London largely plan to sell a product one or two stages removed from the ore they extract from the ground. Bacanora, likely the first locally-listed miner to reach production, will sell a battery grade product from its own processing facility. “We are going to try and avoid the pitfalls of being at the mercy of the converters, and sell to the downstream consumers, which are the battery manufacturers, and the cathode manufacturers, which is obviously a much, much larger market,” says Secker. The convertors are largely the Chinese companies that buy up lithium ore or concentrate.
sheldon osaka weston: Another article released yesterday; hxxps:// Lithium price surge fuels mining innovation Demand from electric vehicle manufacturers and potential to provide batteries for renewables-powered grids ensures demand remains high Lithium prices reaching an 18-month high has spurred investment in new methods of mining that are going to shake up geopolitics and revitalise Europe, according to David Archer, CEO of Savannah Resources. “The immediate effect of the rise of lithium prices is that it improves equity capital market’s sentiment to lithium production,” Archer tells Transition Economist. “There is a flood of capital being offered to producers, which is good, because there is a lot of catching up to do and we are looking at a spike in demand.” Archer predicts that lithium production and the electric vehicle (EV) manufacturing and supply will supercharge Europe’s economy. “It has huge benefits economically and politically,” he says. “Europe has a big industrial base, it is a globally significant car manufacturer looking to make the transition to EVs, and it has a population base that is very intent on products with a low-carbon footprint. Europe can now compete head-to-head with China in the EV space, while the US is a poor third in the energy transition.” The access to the raw materials is key to any country’s success in the lithium market. While 60pc of lithium comes from hard rock mining, in the last ten years lithium has been produced by ground water brines in South America. This is a troubled industry because of local political instability and the fact it is not the most eco-friendly method, due to its high consumption of water. The way forward, says Archer, is with a newer method of brining that takes it out of fractured rock systems underground, using geothermal methods. The lithium hydroxide plants announced in Europe, which will use this new way of brining, will challenge China’s dominance. “Our own site in Portugal will be operational by 2023 and we believe Portugal will be a major EU lithium hub,” says Archer. “There is a certainty of supply, being part of the EU, and being able to produce the raw materials reduces the carbon footprint. China imports it [into Europe], incurring a carbon footprint of tens of thousands of kilometres. This will give us an advantage with car manufacturers that want to be carbon neutral. They will start looking at their entire supply chain and interrogating upstream suppliers about their carbon footprint.” Being able to product lithium locally will facilitate far greater electrification in the future, according to Archer. “Countries will be able to take back energy sovereignty and no longer be dependent on other nations for their fuel,” he says. “It will also have a big impact on developing nations that were not happy with the Paris accord, as they felt it was holding them back from implementing the wide scale industrialisation and economic success that the developed world had enjoyed. Lithium brining gives them a chance to leapfrog the whole fossil fuel process and go straight to renewables.”
mavern: Yes very informative coverage Sev. I don’t think the market really had time to digest it in the remaining hour or so after publication. Maybe the closing UT trade of 5.30 gives us a clue as to the share price direction tomorrow?
sev22: The article is behind a pay wall so I have cut and pasted the part of the story relating to SAV. Battery Boom Round II By the time it was clear EVs would eventually replace ICE vehicles – around five years ago – a mad rush saw prospectors scramble to get their hands on plots of land with the slightest hint of battery metals. The key materials for EV batteries are lithium, nickel, graphite and cobalt. Different battery styles use these in varying proportions. As the boom began in 2015 and 2016, old nickel projects with trace amounts of cobalt were held up as solutions to the world’s reliance on supply from the Democratic Republic of Congo (DRC), while tiny markets like graphite were overwhelmed because new supply came far too early. Former gold and copper explorers also swiftly jumped on the lithium bandwagon. A few years ago, analysts predicted some or all of these metals would soon be in short supply. Miners reacted accordingly, and the prices for all of these metals bar nickel crashed. Cobalt went from $90,000 a tonne in 2018 to a third of that within a year – where it stayed – while new lithium mines in Australia were suspended or had production cut soon after opening because of the glut of supply. Investors in this first wave either picked the bubble and got out, or stayed for losses of around 80 per cent between 2018 and 2020. Some, like Pilbara Minerals (AU:PLS) and Neo Lithium (CA:NLC), have now eclipsed their 2018 highs, but others such as Bacanora Lithium (BCN) and Savannah Resources (SAV) on London’s Aim market are not there yet. The biggest casualty of the crash was Nemaska Lithium, a Canadian hopeful that drew in mainstream investors like SoftBank (JP:9984) but collapsed in 2019. It has since been taken private, but the process saw shareholders lose everything. Now we are coming into the second ramp-up of the energy metals space. The company valuations could be more solid this time, given the increase in EV uptake and governments around the world bringing in bans on ICE vehicle sales. Lithium and cobalt prices have already picked up. Mining and refining company Sumitomo Metal Mining (JP:5713) predicts that the overall size of the battery materials market will go from around $20bn in 2019 to $36.6bn in 2025. An EV battery with current ‘nickel manganese cobalt’ chemistry – called NMC 622 – requires just under 2 kilograms of metals per kWh, largely nickel and copper. A standard new VW ID.3 has a 58kWh battery, so these volumes are already significant. It may not be a smooth ride to EV supremacy for the miners, however. Once they reach production, they become part of a complex supply chain that requires midstream processing and demand from battery manufacturers. The traditional route of juniors could also be at risk as midstream companies get more and more involved in the development process. Elon Musk has even said Tesla would build its own lithium mine in the US. The changing expectations of consumers also means supply chains will come under greater scrutiny than ever before. Savannah chief executive David Archer told Investors' Chronicle that this works in his company’s favour, given its proposed mine is in Portugal. “The real challenge for the cell manufacturers is securing a reliable, low-carbon footprint supply of battery metals and preferably from a supply source that has suitable provenance,” he said. “Producing lithium in Europe is a whole lot more appealing [for the European manufacturers].̶1; But the midstream part of the industry, where the lithium is processed into the precursor chemical form needed by battery manufacturers, is not yet developed. Mr Archer said that by the time his mine is in production in 2023, there will likely be local demand. The company also needs to get through the financing stage. Finding the $100m or more needed – an updated figure will come in this year’s feasibility study – will be helped by possible new investor Galp Energia (PT:GALP), which this month signed a heads of agreement to take a 10 per cent stake in Savannah’s project, Mino do Barroso. Savannah is not the most advanced lithium company in London, but there is not a competitor far enough ahead that lithium production will come this year. Bacanora Lithium has had a project ready to build for some time, but was trying to raise its build costs just as the lithium market was tanking, and now Ganfeng Lithium (HK:1772) is redesigning its mine and plant in Mexico. London’s lithium options are limited compared with the Americas, Asia and Australia. In the Americas, that means Albemarle (US:ALB) and Sociedad Quimica y Minera de Chile (US:SQM) – which is a top 10 holding of BlackRock Frontiers Investment Trust (BRFI) – and in Australia, the hard rock miners that flooded the market from 2017 include Pilbara Resources and Mineral Resources (AU:MIN). China, Japan and Korea offer more midstream and battery maker investment opportunities. There are also some investment angles within the diversified majors. Rio Tinto (RIO) is working towards an investment decision on the Jadar lithium mine in Serbia, which would blow European demand out of the water. It would only be in production near the end of the decade, however. Glencore (GLEN) is in a powerful position through its cobalt production in the DRC, while its copper and nickel production are also critical for the energy transition. Cobalt production in the DRC is one of the most widely known difficulties of the sector, because of child labour on the artisanal side of the industry. It’s not squeaky-clean on the industrial side in the DRC, either. In early 2019, a truck full of acid on its way to a Glencore mine crashed and killed 21 people. There are also the various investigations into Glencore behaviour taking place in the UK and US if an investor is keen to include environmental, social and governance (ESG) factors as part of an investment decision. The stable, midcap, dividend-paying miners that are present in London in the gold and copper sectors just aren’t there for energy metal pure-plays. The safer option, then, is picking out a fund or ETF with overseas exposure and a high-risk, high-reward option is a dive into the speculative junior mining space. ‘The electric decade’ EVs may seem like just the hot investment topic du jour, but this is really a long-term trend that will continue to generate exciting opportunities for investors as it unfolds over the next 20 years or so – not just in terms of the EV makers themselves, but across a wide variety of sectors. “What we'll probably see over the next three to four years is that electric vehicles will move from being justifiable to an enthusiast, to being an absolute no brainer for more people,” says Mr Pye. “I think we're really still at the beginning of what may be the electric decade.”
ged5: Hi Sif12, I only just updated the header today but didn't check the scroll box, so thanks for pointing that out. It's still unclear what will happen there. Personally I would like SAV to complete the PFS and get 35%. We should get an update soon. One of David Archer's failings is that he was often optimistic with his deadlines. It's been mentioned several times on this thread. Many of us became disillusioned and several sold most of our holdings or completely sold. Today we are on the cusp of some very exciting times. Confirmation of the agreement with Galp should be the trigger to move the share price higher. Then the EIA publication and support from the Portuguese Government which I expect in April but could be earlier. I think the Alastair Ford interview in Sev22's post, highlighted with a PlusOneCoin, is the best summary of where we are today. Here's another of his interviews about the lithium market. SAV gets a mention towards the end. Https://
ged5: More electric cars - more batteries More batteries - more lithium More lithium - more likely SAV will start producing (imo) More SAV produces - more pennies on the sp More pennies on the share price - more wealthy Ged becomes Yeah! Https://
inbrackets: Vulcan have risen but so has SAV, from 0.8p to 5.9p over the past year according to the chart on this site. Problem is that very few will have bought at the low or sold at the recent top.They have recently put out a presentation that details they will need 700m to get their project started and that's 2/3 years away without any slippage (and we all know about that).Meanwhile, in Portugal only, SAV recently joined with Galp, an ESG very friendly partner with a great record (and good pockets) along with Northvolt, an ESG very friendly partner, as we are on the cusp of our EIA public discussions, and hoped for MLs. This 'holy trinity' has already intimated that they will be looking to expand their resource in the coming auctions and the Gov, a Galp shareholder, has already said that the highest price is not the determining factor in winning the auction, and they want to see a new nascent lithium industry chain. Confirmation of the change of use Galp refinery, possibly Northvolt setting up a Southvolt holiday camp in Portugal, SAV's EIA and progression towards DFS etc will see the positioning of these parties being tightened up. When further resources are added with the auctions, this will see further increases.All in my opinion of course, but I would like to see the shape of anyone else's tea leaves, excluding the RT jv which deserves another cuppa.
busraker1: If other lithium plays are spiking up and we're not, then that may be a clue that it is coming! I've been feeling an urgency to double my holding, which is nearly done now. The lithium sector certainly seems to be coming alive, sparked by Tesla's share price rise, but particularly by Tesla's recent offtake agreement with Piedmont Lithium sending the PLL share price from 9c to 60c in three weeks and has gone from 1.5x SAV mkt cap to 10x. Savannah is very very similar to Piedmont in scale and type of operation. Piedmont have recently included plans for a hydroxide plant though so are one step ahead in that, including the much higher capex to get that off the ground. You could say SAV are Europe's Piedmont, but we are awaiting an offtake with the likes of VW or similar who may, like Tesla, also want to backwards integrate their EV manufacturing process to include lithium mining, to reduce the cost of the raw materials. This is a great listen on all of that including mention of SAV - Https://
ged5: Will we get any more holding announcements? 130 011 270 shares issued in the recent placing plus about 2M to pay the fees. Lombard took 73 277 777 so another 56.73M still to be accounted for. I suppose we should be excited the company now has about £1.7M after about £600K is deducted for next years salaries. From the placing RNS:- Focusing on the near term, the working capital secured by this placing will give Savannah a more robust financial position while it finalises an offtake agreement for the Project's lithium concentrate, continues its negotiations with potential strategic partners, progresses the Project's Definitive Feasibility Study ("DFS") towards completion, and responds to further information requests from Portugal's environmental regulator following the submission of the Project's Environmental Impact Assessment and Mine Plan in May. "Finalises an offtake agreement" When have we heard that before? "Continues its negotiations with potential strategic partners" How long has this been going on? "Progresses the Project's Definitive Feasibility Study ("DFS") towards completion" I thought the EIA had to be completed first. "Responds to further information requests from Portugal's environmental regulator following the submission of the Project's Environmental Impact Assessment and Mine Plan in May." If there are no requests we can expect this news in January but here he is preparing us for further requests which would add on a further 3 months. Of course we could get news any time about the EIA and MP since these were expected about the 19th August. It was good to hear they are working with our partner Rio Tinto to progress the 4.4Bt Mutamba mineral sands joint venture ("JV") project. I had thought SAV were doing all the work! Is SAV a buy again for me to add to my small holding? I have been thinking about it as a very speculative buy. Perhaps a few for the time being but I'll hold off until the New Year for anything of size unless anyone can convince me his words aren't hollow yet again. Https:// Https://
busraker1: SAV touched 1.9p back in September and, if it's forming a double bottom or bottom pattern of some sort on the share chart, it may go there again, but if 2020 is going to be as good a year as it seems from EV sales, given the raft of exciting new cars coming out, then I'd want to be in SAV sooner rather than later.... The lithium price is likely to be higher by the back end of next year as inventories are worked off and the SAV share price up with it. One of the big boys, Jianqxi Ganfeng Lithium, (30% owner of Bacanora etc) has gone up from 870cny on 1st Sept to 1760cny today so there are signs of early movement in some and a bottoming out in many other lithium shares. Of course, this all assumes that SAV navigates its mine in to life without major hinderance... IMHO
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