Energy, Power & Resources
Savannah Resources plc


Transaction type Equity Capital Markets & Corporate Broking

Sector Energy, Power & Resources

finnCap have advised Savannah Resources plc (AIM: SAV and SWB:SAV), the AIM quoted resource development company, on their £11.5m fundraising.

Funds will predominantly be used to support the next stage of development for Savannah’s Mina do Barroso Lithium Project located in northern Portugal, providing funding to decision to mine.

David Archer, Chief Executive Officer of Savannah said today,

“We are pleased to have completed this heavily oversubscribed fundraising and to be able to welcome a number of significant UK institutional shareholders to our register. The funds raised will allow us to continue to fast-track the development of our Mina do Barroso Lithium Project, which has the potential to be the leading European producer of spodumene lithium. The net funds raised will enable us to advance our project in Portugal through a Feasibility Study, with a view to making a final development decision early next year.”