Savannah Resources (LSE:SAV) has reinforced its financial footing by successfully raising at least £4.24 million through an accelerated bookbuild and subscription process. This fresh capital injection will support the ongoing advancement of the company’s flagship Barroso Lithium Project in Portugal.
The fundraising round received strong backing from both current stakeholders and new investors, including significant commitments from institutional investors in Portugal, France, and the UK. The proceeds will primarily fund the completion of the Definitive Feasibility Study (DFS), while also laying the groundwork for post-DFS activities such as securing construction financing and acquiring necessary land.
About Savannah Resources
Savannah Resources PLC is a key player in Europe’s lithium sector, focused on developing the Barroso Lithium Project. The company aims to supply essential lithium materials to support Europe’s growing battery manufacturing industry and broader energy transition goals.
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