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Savannah Resources raises £11.5mln to advance Mina do Barroso Lithium Project

David Archer, chief executive of Savannah Resources Plc (LON:SAV), discusses with Proactive's Andrew Scott their £11.5mln fundraise.

Archer says they've also received a letter of intent from the company's major shareholder Al Marjan Limited for a further £1mln.

He says the funds will predominantly be used to support the next stage of development for their Mina do Barroso Lithium Project in northern Portugal, providing funding to decision to mine.

Quick facts: Savannah Resources PLC

Price: 2.3 GBX

AIM:SAV
Market: AIM
Market Cap: £29.84 m
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Savannah Resources’ Grandao lithium deposit ‘continues to grow’

David Archer, chief executive of Savannah Resources Plc (LON:SAV), tells Proactive Investors they're seeing continued encouraging results from their ongoing reverse circulation and diamond drill programme at the Mina do Barroso project in Portugal. He says they've identified 'significant...

on 26/7/18

2 min read