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Savannah Resources continues despite visit from Portuguese officials

7th Nov 2023 18:18

(Alliance News) - Savannah Resources PLC on Tuesday said its work is continuing at the Barroso lithium project, whilst Portuguese investigating officials visited some of its sites.

Savannah Resources is a lithium development company focused on the Barroso project.

The company noted actions by the Portuguese public prosecutor.

These actions were taken to investigate facts into a project for a hydrogen energy production plant in Sines; the data centre construction project developed in the Sines industrial and logistics zone; and lithium exploitation concessions 'in the Romano (Montalegre) and do Barroso (Boticas)'.

As part of this, Savannah confirmed investigating officials attended certain business locations in Portugal on Tuesday.

"Savannah cooperated fully with the investigating officials and the company will continue to do so. Neither Savannah nor any of its directors or employees are targets of the investigation," the company said.

It also confirmed that its work at the Barroso lithium project is "continuing unencumbered" while the investigation is ongoing.

Shares in Savannah Resources closed flat at 3.30 pence each in London on Tuesday.

By Sophie Rose, Alliance News senior reporter

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