Savannah Energy (SAVE)

Sector:

Energy Producers

Index:

FTSE AIM 50

 26.25p
   
  • Closing Price Chg:
      0.000p
  • 52 Week High: 40.20p
  • 52 Week Low: 19.35p
  • Currency: UK Pounds
  • Shares Issued: 1,306.10m
  • Volume: 0
  • Market Cap: £342.85m
  • RiskGrade: 340

Savannah Resources losses narrow throughout 'pivotal period'

By Iain Gilbert

Date: Friday 21 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Savannah Resources told investors on Friday that the first half of its trading year had been "a pivotal period" with the acceleration of its work programmes at the Mina do Barroso lithium project taking centre stage.
The AIM-quoted resource development company saw losses narrow 21.5% to £1.2m in the six months ended 30 June, principally due to the continued high tempo of mine development activities at its Portuguese lithium project.

Losses per share were cut from 0.31p to 0.18p.

Net assets rocketed 69% year-on-year to £15.68m.

Savannah strengthened its cash position throughout the half as a result of its £2.1m equity raise, and the £12.5m equity raise that followed in July. The firm's current cash position at period end was £11.4m.

Savannah's chairman Matthew King, said: "2018 to-date has been a pivotal period for Savannah with the acceleration of our work programmes at the Mina do Barroso lithium Project, culminating in a highly positive scoping study on the asset and a 500%+ increase in its resource base."

"The momentum created by this rapid and successful appraisal programme allowed us to complete a record £12.5m equity financing in July raised principally from existing shareholders and new institutional investors. This will provide funding for the work necessary to reach a mine development decision on the MdB Project, and to progress our projects in Mozambique and Oman."

As of 0910 BST, Savannah shares were up 4.58% to 8p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Savannah Energy Market Data

Currency UK Pounds
Share Price 26.25p
Closing Price Change 0.000p
% Change 0.00 %
52 Week High 40.20p
52 Week Low 19.35p
Volume 0
Shares Issued 1,306.10m
Market Cap £342.85m
RiskGrade 340

Savannah Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Value
51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Income Not Available
Growth
14.02% above the market average14.02% above the market average14.02% above the market average14.02% above the market average14.02% above the market average
13.73% above the sector average13.73% above the sector average13.73% above the sector average13.73% above the sector average13.73% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Savannah Energy Dividends

No dividends found

Trades for --2023

Time Volume / Share Price
0 @ 0.000p

Savannah Energy Key Personnel

CEO Andrew Knott

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