David Archer, Chief Executive Officer of Savannah said today, "The secondary-listing on the Frankfurt Stock Exchange will increase the Company's capital markets and corporate visibility in mainland Europe. We have a portfolio of exciting projects at various stages of development including the Mina do Barroso Lithium Project in northern Portugal, copper projects in Oman and the Mutamba Mineral Sands Project in Mozambique. Europe and particularly Germany, is a major consumer of lithium and demand fundamentals going forward remain strong. With Mina do Barroso being the largest spodumene lithium discovery in Western Europe we anticipate greater demand for Savannah's shares and this Secondary Listing will help facilitate investment by European investors in the Company.
"With the Mina do Barroso Feasibility Study currently underway, which is fully funded following our recent fundraise of £12.5 million, we remain focused on fast tracking our Portuguese project into production during 2020. We are confident that significant further upside exists, with excellent potential to increase the Mineral Resource Estimate in due course."
The Company's Ordinary Shares have been admitted to the Secondary Listing under the symbol AFM. Following the Secondary Listing, the Company's issued share capital will continue to trade on the London Stock Exchange (AIM: SAV) as well as the Börse Stuttgart (SWB: SAV).
Regulatory Information
Neither this announcement nor the information contained herein constitutes an offer or solicitation by Savannah Resources plc for the purchase or sale of any securities, nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.
The Company's corporate presentation has been updated and this can be accessed on the Company's website (www.savannahresources.com).