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Rio Tinto and Savannah Joint Venture Update
Rio Tinto and Savannah Joint Venture Update.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5468C Savannah Resources PLC 29 June 2016 \n\n \nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n29 June 2016\nSavannah Resources Plc\nRio Tinto and Savannah Mutamba/Jangamo Joint Venture Update\n \nSavannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, advises that Rio Tinto and Savannah have agreed to extend the long stop date for fulfillment of the conditions precedent of the joint venture (announced on 22 June 20151) from 30 June 2016 until 30 September 2016 (or such later date as may be agreed in writing between the parties) to enable further time to fulfil the applicable approval processes.\n \n1 http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12397113.html\n \n**ENDS**\n \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 (Nominated Adviser)\n\n\nNorthland Capital Partners Ltd\n\n\nTel: +44 20 3861 6625\n\n\n\n\nJon Belliss / Elliot Hance\n(Corporate Broker)\n\n\nBeaufort Securities Ltd\n\n\nTel: +44 20 7382 8300\n\n\n\n\nCharlotte Heap / Lottie Brocklehurst\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, development company.\n \nOman\nSavannah has interests in three copper blocks in the highly prospective Semail Ophiolite Belt in Oman. The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt at a grade of 2.2% copper and high grade intercepts of up to 56.35m at a grade of 6.21% Cu, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold producer in a relatively short time frame. Together with its Omani partners, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits, and in December 2015 outlined exploration targets of between 10,700,000 and 29,250,000 tonnes grading between 1.4% and 2.4% copper.\n \nMozambique\nSavannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploratio...