Business
Appointment of Sole Broker
Appointment of Sole Broker.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0772H Savannah Resources PLC 05 June 2017 \n\n \nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n \n5 June 2017\nSavannah Resources Plc\nAppointment of Sole Broker\n \nSavannah Resources plc (AIM:SAV) (the 'Company') is pleased to advise that it has appointed finnCap Ltd to act as sole broker to the Company with immediate effect. Northland Capital Partners will continue to act as the Company's Nominated Adviser. \n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.\n**ENDS**\nFor further information please visit www.savannahresources.com or contact:\n \n\n\n\n\nDavid Archer\n\n\nSavannah Resources plc\n\n\nTel: +44 20 7117 2489\n\n\n\n\nDavid Hignell / Gerry Beaney\n(Nominated Adviser)\n\n\nNorthland Capital Partners Ltd\n\n\nTel: +44 20 3861 6625\n\n\n\n\nChristopher Raggett / Emily Morris\n(Corporate Broker)\n\n\nfinnCap Ltd\n\n\nTel: +44 20 7220 0500\n\n\n\n\nCharlotte Page / Lottie Brocklehurst\n(Financial PR)\n\n\nSt Brides Partners Ltd\n\n\nTel: +44 20 7236 1177\n\n\n\n\n \nNotes\nSavannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, mineral development company.\n \nMozambique\nSavannah operates the Mutamba heavy mineral sands project in Mozambique in collaboration with Rio Tinto, and can earn a 51% interest in the related Consortium, which has an established initial Indicated and Inferred Mineral Resource Estimate of 4.4 billion tonnes at 3.9% THM over the Jangamo, Dongane and Ravene deposits. Under the terms of the Consortium Agreement with Rio Tinto, upon delivery by Savannah of the following will earn the corresponding interest in the Mutamba Project (which currently is 20% following delivery of scoping study in May 2017): pre-feasibility study - 35%; feasibility study - 51%. Additionally, the Consortium Agreement includes an offtake agreement on commercial terms for the sale of 100% of heavy mineral concentrate production to Rio Tinto (or an affiliate).\n \nOman\nSavannah has interests in two copper blocks in the highly prospective Semail Ophiolite Belt in Oman. The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper and high-grade intercepts of up to 56.35m at 6.21% Cu, with gold credits, provide Savannah with a...