Business
Barroso Lithium Project Update
Barroso Lithium Project Update.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n \n \n6 September 2023 \nSavannah Resources Plc\n(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')\n \nBarroso Lithium Project Update\n \nSavannah Resources Plc, the European lithium development company, is pleased to provide an update on several key workstreams at its 100% owned Barroso Lithium Project (the 'Project') including, its ongoing commercial negotiations, completion of the Definitive Feasibility Study ('DFS'), the environmental licencing process ('RECAPE'), and land purchasing and land access arrangements.\n \nHighlights:\n· Commercial arrangements for the Project:\no Savannah has a strong negotiating position as it owns 100% of the Project and has yet to commit to any offtake arrangements\no Following the endorsement of the Project (the 'DIA') by the Portuguese environmental regulator, the level of strategic partnership interest in the Project has increased notably\no The Company is currently working to identify a shortlist of potential strategic partners which are willing to assist with the financing of the Project's construction\no Savannah expects to provide an update on the Project's commercial arrangements towards the end of the year\n· DFS and RECAPE: Significant progress has been made on preparations for the commencement of both the DFS and RECAPE with six tenders issued, 4 tenders awarded and 2 tenders under final review\n· DFS:\no DFS Processing Work Package: awarded to a collaboration between the plant construction experts Sedgman Pty Ltd ('Sedgman') and the processing experts Minsol Engineering Pty Ltd ('Minsol')\no DFS Infrastructure Work Package: tenders under final review\no DFS Drilling Programme Phase 1: awarded to EDASU S.L ('EDASU') and SPI S.A. ('SPI'); drilling is expected to begin in mid-September on land owned by Savannah\n· RECAPE:\no&nbs...