Statement by Savannah Resources Plc Regarding Barroso Lithium Project Sale Speculation

19/09/2023

Image source: pixelied.com / pixabay.com

Savannah Resources Plc, the esteemed European lithium development company (AIM: SAV, FWB: SAV, SWB: SAV), feels compelled to address recent media speculation concerning its operations. The company would like to clarify that it is not currently engaged in any sale process pertaining to the Barroso Lithium Project or the company itself. Any assertions in the press suggesting an imminent sale are baseless and misleading.

As previously disclosed in Savannah’s announcement on 6 September 2023, the Barroso Lithium Project has garnered significant commercial interest over the years. Moreover, with the endorsement of the DIA (Environmental Impact Assessment) and the successful completion of a positive Scoping Study, the project has attracted even greater attention from various stakeholders across the lithium value chain. Savannah has received numerous inquiries from interested parties and is currently undertaking a diligent and systematic approach to shortlisting potential strategic partners for the project. The company’s primary focus is on identifying partners who can contribute to the project’s financing and bring complementary expertise or additional opportunities to a long-term collaborative alliance with Savannah. Towards the end of the year, the company anticipates providing an update on the commercial arrangements surrounding the Barroso Lithium Project.

Savannah Resources Plc wishes to emphasize that it will make further announcements as and when appropriate, ensuring transparency and clarity in its communications. The company remains committed to advancing the Barroso Lithium Project and looks forward to forging fruitful partnerships that will contribute to its success.

Source and Credit: savannahresources.com

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