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Savannah Resources Plc (SAVS.L)

SAVS.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Savannah Resources PLC announces cash placing of 0.55 ml n Pounds
Monday, 29 Jun 2015 02:00am EDT 

Savannah Resources PLC:Says that it has raised about 0.55 mln Pounds cash through the placing of 21,900,000 new ordinary shares at a placing price of 2.5p per ordinary share with both new and existing investors.Says RFC Ambrian Limited acted as broker to the Placing.Net proceeds of the Placing will be used by the Group to fund work on the recently announced joint venture with Rio Tinto comprising the Mutamba/Jangamo heavy minerals sands project in Mozambique, including the definition of a JORC compliant resource and completion of the scoping study.Says as well as for general working capital purposes to support the Company.  Full Article

Savannah Resources Plc and Rio Tinto to establish Joint Venture
Monday, 22 Jun 2015 02:00am EDT 

Savannah Resources Plc:Says its unit AME East Africa Ltd and Rio Tinto's Rio Tinto International Holdings to combine their adjacent Mutamba, Dongane and Jangamo prospects and Rio Tinto's Chilubane heavy mineral sands occurrences in an unincorporated JV in Mozambique.The projects combine Savannah's Inferred Mineral Resource of 65Mt at 4.2 pct total heavy minerals1 (THM) and Rio Tinto's previously declared Exploration Target of between 7.0 and 12.0Bt at a grade ranging from 3 to 4.5 pct total heavy minerals.Savannah will be the operator of the joint venture and may earn up to a 51 pct interest in the combined Mutamba/Jangamo Project.The Mutamba/Jangamo Joint Venture will focus on defining a dry mining operation for staged, early development.In connection with the transaction, Savannah has entered into a conditional agreement to acquire the remaining 20 pct of Matilda Minerals Limitada it does not own for A$100,000, payable in Savannah ordinary shares or cash.  Full Article

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