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Business Summary: Savannah Resources Plc is a lithium development company. The Company is focused on developing the Barroso Lithium Project in Portugal, Europe's spodumene lithium deposit. The Barroso Lithium Project contains significant spodumene lithium resources in Western Europe, consisting of five deposits, including Grandao, Reservatorio, Pinheiro, NOA and Aldeia. The Barroso Lithium Project is located in northern Portugal near the town of Boticas and around 145 kilometers (km) by road from the deep-water port of Leixoes near the city of Porto. The Barroso Lithium project covers an area of 8.36 square kilometers (km2) in the Barroso hills of northeast Portugal and consists of the C-100 Mining Lease (5.42km2) and an adjacent, three block, mining lease application area (2.94 km2). It owns significant lithium raw material assets within the European Union. By responsibly producing lithium raw material, it actively supports the creation of a new lithium value chain in Portugal and the rest of Europe.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2023, Savannah Resources Plc revenues was not reported. Net loss before extraordinary items increased 29% to L3.5M. Higher net loss reflects Foreign Exchange (Loss)/Gain increase from L814K (income) to L81K (expense), Finance Costs increase from L0K to L1K (expense).