Business
Interim Results for six months ending 30 June 2025
Savannah Resources Plc announced its interim results for the six months ending June 30, 2025. A new JORC compliant resource estimate of 39.1Mt at 1.05% Li2O was announced, representing a 40% increase in tonnage and a 41% increase in contained Li2O. The total Exploration Target for the Project was increased by over 200% to 35-62Mt at 0.9%-1.2% Li2O. The company's cash position at the end of the period was £9.5m, which increased to £13.3m in July following a fundraise raising gross proceeds of £4.78m. Losses from continued operations decreased by 21% to £1.5m, while cash expenditure committed to exploration increased by 39% to £3.2m. The DFS is expected to be completed in H1 2026, with first production in 2028. Disclaimer*
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n24 September 2025 \nSavannah Resources Plc\n(AIM: SAV) ('Savannah', or the 'Company')\n \nInterim Results for the six months ending 30 June 2025\n \n \nSavannah Resources Plc, the developer of the Barroso Lithium Project (the 'Project') in Portugal, a 'Strategic Project' under the European Critical Raw Materials Act, is pleased to provide its interim results for the six months ended 30 June 2025.\n \nFirst half and recent highlights include:\n \nBarroso Lithium Project:\n· Strategic Project Status: The Project was one of the first 47 European projects to be classified by the European Commission ('EC') as a 'Strategic Project' under the Critical Raw Materials Act.\n· Lithium market: Sentiment towards the sector improved significantly following the end of the period. Catalysed by coinciding reports of robust ongoing demand (e.g. 10.7m EVs sold globally, +27% vs. Jan-Jul 2024, source: Rho Motion) and further supply side curtailments, market conditions have tightened with prices currently reported around the US$800/t level for spodumene concentrate, over 30% up from the low in mid-June.\n· Definitive Feasibility Study ('DFS'):\no Drilling: With investment at the Project increased during the period, the resource-related element of the Phase 2 drilling programme was completed between January and July. 12,463m were drilled across 103 holes (including 11 geotechnical holes). In the process, Savannah passed the milestone of 50,000m of drilling (50,627m to date) on the Project since its acquisition in 2017.\no New JORC Resource estimate: As a result of the drilling, a new upgraded and expanded JORC (2012) Compliant Resource of 39.1Mt at 1.05% Li2O was announced in September, representing a 40% increase in tonnage and 41% increase in contained Li2O.\no Other DFS workstreams: Proceeded as scheduled during the period.\n· New Exploration ...