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Savannah Resources Plc Announces New Scoping Study for the Barroso Lithium Project demonstrates Outstanding Economics

(Kitco News) – Europe-focused lithium developer Savannah Resources (AIM: SAV) today reported the results of a new scoping study undertaken on the company’s 100% owned Barroso lithium project, located in northern Portugal.

According to a company news release, a new scoping study for the Barroso lithium project demonstrates “outstanding” economics with post-tax NPV of US$953 million, IRR of 77%, and 1.3 year payback; as well as life of mine (LOM) revenue of US$4.2 billion, EBITDA of US$2.8 billion, and post-tax free cash flow of US$1.7 billion.

Savannah added that the new study is based on average 5.5% grade spodumene concentrate LOM price of US$1,464/t, compared to current 6% grade spot prices of US$3,500/t.

The company also noted that the project is considered by independent consultants to be of “low technical risk” with open pit mining and conventional processing combining dense media separation and a flotation circuit utilizing environmentally friendly reagents to produce a 5.5% Li2O grade spodumene concentrate.

The project is scheduled to commence producing concentrate in mid-2026 subject to completion of DFS and project financing.

“Capable of producing just under 200,000tpa of spodumene concentrate, or c.25ktpa LCE (lithium carbonate equivalent), the Barroso lithium project is one of the most significant potential lithium raw material sources in the European Union,” the company said.

“Having received its key environmental approval last month and now with the strong business case implied by the scoping study, the Barroso lithium project is well placed to fulfil its role as a major source of responsibly produced lithium in Europe. In this way, it can help to establish Portugal as a key player in Europe’s own end-to-end lithium-ion battery value chain,” it added.

Savannah Resources is a mineral resource development company and sole owner of the Barroso lithium project in northern Portugal. Production is targeted to begin in 2026, producing enough lithium for 0.5m vehicle battery packs per year.

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