Aim-listed lithium project developer Savannah Resources has added a secondary listing on the Frankfurt Stock Exchange to increase its investor and corporate visibility in mainland Europe.
The choice of a listing in Frankfurt is significant, as Germany is one of the continents’ largest consumers of lithium.
“Europe and particularly Germany, is a major consumer of lithium and demand fundamentals going forward remain strong. With Mina do Barroso being the largest spodumene lithium discovery in Western Europe we anticipate greater demand for Savannah's shares and this secondary listing will help facilitate investment by European investors in the company,” commented CEO David Archer.
The Mina do Barroso feasibility study, which is currently under way, is fully funded following a recent fundraise of £12.5-million. The company is aiming to have the Portugal project in production by 2020.
“We are confident that significant further upside exists, with excellent potential to increase the mineral resource estimate in due course," he added.
Following the secondary listing, the company's issued share capital will continue to trade on the Aim and the Börse Stuttgart.