Savannah Resources is negotiating with a shortlist of potential partners for a second spodumene offtake agreement at its Barroso Lithium Project. This deal will complement the company's existing agreement with AMG Critical Materials N.V.
The company has received initial non-binding offers and expects conditional project finance offers from commercial banks in the coming months. Discussions are also ongoing with KfW IPEX-Bank and Euler Hermes regarding a potential German Government loan guarantee.
Savannah is exploring an additional stock market listing on a regulated market to enhance investor access and support future financing. The company also signed non-binding Letters of Intent for by-product streams, with demand currently exceeding assumptions in its recent Definitive Feasibility Study.
This update follows an investor presentation held the same day to discuss the project's DFS results.