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Savannah Resources ( (GB:SAV) ) has shared an announcement.
Savannah Resources has been informed that a ‘precautionary measure’ was filed in the Administrative and Fiscal Court of Mirandela by three local landowners against the Portuguese Ministry for the Environment & Energy. This action relates to a temporary land easement order that allowed Savannah access to land for fieldwork on their project. As a result, the court has suspended the order, requiring Savannah to halt work on the contested land, although they can continue work on other land they own or have access rights to. Savannah’s legal advisers believe the measure is without merit and the company plans to contest it, expecting to resume work soon.
More about Savannah Resources
Savannah Resources is a mineral resource development company that owns the Barroso Lithium Project in northern Portugal, which is the largest battery-grade spodumene lithium resource in Europe. The company aims to provide a significant supply of lithium for Europe’s battery value chain, contributing to the European Commission’s Critical Raw Material Act goal. Supported by its strategic partner AMG Critical Materials N.V., Savannah focuses on responsible development to maximize socio-economic benefits while minimizing environmental impact.
YTD Price Performance: 0.69%
Average Trading Volume: 2,718,095
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £95.17M
Find detailed analytics on SAV stock on TipRanks’ Stock Analysis page.
