Business
Initiation of Research Coverage by CaixaBI
Initiation of Research Coverage by CaixaBI.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n \n5 August 2024\n \nSavannah Resources Plc\n(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')\n \nInitiation of Research Coverage by Portuguese Investment Bank, CaixaBI\n \nSavannah Resources Plc, the developer of the Barroso Lithium Project (the 'Project') in Portugal, Europe's largest spodumene lithium deposit, is pleased to report that leading Portuguese investment bank, Caixa - Banco de Investimento, S.A. ('CaixaBI'), has recently initiated research coverage on the Company with a comprehensive report and 'Buy' recommendation.\n \nThe report (written in English) and available on the Savannah website at https://www.savannahresources.com/investors/analyst-research/, provides a compelling overview of the investment case for Savannah including:\n \n· The significant scale of its 100% owned Barroso Lithium Project, the most significant spodumene lithium resource in Europe, capable of supplying enough lithium each year for approximately half a million electric vehicle battery packs.\n· The Project's low risk development profile, approved by Portugal's environmental regulator in 2023, which combines proven mining and processing techniques with Portugal's existing high-quality infrastructure to create a competitive and economically attractive operation within the global lithium industry.\n· The underlying value of the Project. CaixaBI have set an initial price target on the stock of approximately 8p/share or around twice the current share price.\n· The recently announced strategic partnership with AMG Critical Materials N.V. ('AMG'), an established spodumene lithium miner, which is also commiss...