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Savannah Resources team up with 'ideal candidate for partnership' Galp on flagship lithium project

Savannah Resources PLC's (LON:SAV) David Archer talks to Proactive London about their agreement with 'one of Europe's energy majors' Galp.

The proposed partnership is for a proposed partnership in the lithium field around the Mina do Barroso mining project in northern Portugal.

Archer calls Galp the 'ideal candidate for partnership', which envisages Galp taking a 10% stake in Savannah’s subsidiary via a US$6.4mln investment, to support a definitive feasibility study.

Together the partners intend to work on a possible offtake agreement for up to 100,000 tonnes per annum of lithium concentrate from Mina do Barroso.

Quick facts: Savannah Resources PLC

Price: 5.09 GBX

Market: AIM
Market Cap: £72.84 m

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