London pre-open: Sharp sell-off expected as Greek crisis escalates
29th Jun 2015 07:43
Stock markets across Europe are set to plummet on Monday morning as the risk of a Greek default and possible exit from the Eurozone increased significantly over the weekend following the breakdown of talks between Athens and its lenders. City sources predict the FTSE 100 will open around 180 points
Read moreSavannah Resources raises £0.55m in share placing
29th Jun 2015 07:11
Savannah Resources said on Monday that it has raised approximately £0.55m in cash through the placing of 21.9m shares at 2.5p each with both new and existing investors. The net proceeds will be used to fund work on the recently-announced joint venture with Rio Tinto comprising the Mutamba/Jangamo he
Read moreSavannah Resources shares rocket on Rio Tinto joint venture in Mozambique
22nd Jun 2015 08:11
Industrial metals group Savannah Resources doubled in market value on Monday after the AIM company entered into a joint venture agreement with mining giant Rio Tinto in Mozambique. Savannah's subsidiary AME East Africa has struck a deal with Rio to combine its adjacent Mutamba, Dongane and Jangamo h
Read moreSavannah Resources reports rapid progress in first half
12th Sep 2014 12:51
AIM-listed Savannah Resources on Friday reported "rapid progress" during the first half of the year and said it has a solid cash position. The group generated a pre-tax loss of £0.92m compared to £0.26m in the same period in 2013. Admin expenses increased from £0.26m to £0.63m, principally attri
Read moreSavannah Resources unveils "encouraging results" in Oman
1st Sep 2014 11:45
Savannah Resources, the Mali-focused mining and explorer, has said a re-process airborne survey of its copper project in Oman delivered encouraging results. The company said eight "priority one" targets have been identified in the proximity of known volcanic massive sulphide (VMS) deposits. The cu
Read moreSavannah Resources completes drilling programme in Mozambique
2nd Jul 2014 10:37
Savannah Resources has completed a scout drilling programme at its Jangamo project in southern Mozambique. The AIM-listed exploration group expects grid drillout to begin in August, which could help define a potential JORC compliant Mineral Resource by the end of the year. Savannah's focus of the
Read moreSavannah Resources buys Gentor Resources
10th Apr 2014 16:16
Savannah Resources' shares rose after saying it has agreed to buy Gentor Resources, which has interests in block five and block six copper projects in the Sultanate of Oman. The group has bought 100% of the subsidiary of Gentor Resources Inc., which has a 65% interest in block five and the right to
Read moreSavannah Resources generates funds for Jangamo project
24th Mar 2014 13:10
Diversified exploration group Savannah Resources has placed 20m share to raise funds for its 2014 exploration programme at Jangamo in southern Mozambique. The AIM-listed firm said it raised £1.5m before expenses after placing the shares at 7.5p each. The group recently completed a drill programme
Read moreSavannah Resources confirms departure of CEO, appoints Technical Director
3rd Oct 2013 14:12
Savannah Resources has confirmed its Chief Executive Officer (CEO) Mark Jones has stepped down to head AIM-listed Alecto Minterals. Alecto is acquiring Savannah's Mali assets in return for a near 24.9% stake in the business. Jones will continue to lead the Kossanto Gold Project through Alecto. CEO
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