Business
AGM Statement
AGM Statement.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n \n \n10 June 2025\n \nSavannah Resources Plc\n(AIM: SAV) ('Savannah', or the 'Company')\n \n Chairman's AGM Statement\n \nSavannah hosts its Annual General Meeting ('AGM') today at 09:00 BST at Druces LLP, Salisbury House, London Wall, London, EC2M 5PS (Exchange Meeting Room). Ahead of the AGM, the Company is providing the Chairman's Statement below.\n \nChairman's AGM Statement\nThe past year, my first as Chair of Savannah, was another hugely busy period for the Company, during which our growing team made significant and valuable progress at the Barroso Lithium Project in Portugal (the 'Project'). It is also one year since we announced our first strategic partnership, with AMG Critical Materials N.V ('AMG'). AMG's £16m equity investment (made at a significant premium) in Savannah and the agreements the two companies made last June have underpinned our recent work by providing significant cash resources, as well as the impetus created by the Project's first proposed customer, and a potential route towards full financing for the Project's construction.\n \nIn today's lithium market, with lithium raw material prices down significantly from the all-time highs seen in late 2022, the support of an established industry player is invaluable. It also highlights the relevance and importance of our Project to the burgeoning European lithium battery value chain due to its quality, robustness and great potential. These key attributes were further reiterated by the strong support the Project received from the Portuguese Government and from the European Commission through its inclusion of our Project in the first group of 'Strategic Projects' announced under the Critical Raw Materials Act in March 2025. We trust that these actions along with the confirmation of eligibility in principle for a project finance loan guarantee from the Germany Government (secured through our proposed offtake with AMG), make clear to all current and future stakeholders that Savannah and the Barroso Lithium Project are significant and highly credible opportunities.\n \nWe also greatly benefited during the year from the marked increase in interest shown in our Company and Project by Portuguese investors. Domestic investors now account for over 20% of our register following significant on market buying. We are ...