Mutamba mineral sands project, in Mozambique
Aim-listed Savannah Resources has managed to continue with a few of its key activities despite Covid-19-related disruptions to other operations.
Savannah has closed all its offices and arranged for staff to work remotely, suspended all field activities, reduced the staff complement to essential staff only at the Mutamba project, in Mozambique, and suspended all non-essential travel.
The company has continued with the finalisation of the environmental-impact assessment and mine plan for the Mina do Barroso lithium project, in Portugal, for submission to the country’s national regulator.
Savannah is also progressing financing talks, offtake agreement and contract services for this project.
Savannah continues with work to review data from a recently published prefeasibility study on the Mutamba mineral sands project, as well as discussions with Rio Tinto around the project’s scope.
The company continues discussions with potential buyers of the Block 4 and 5 copper projects, in Oman.
Savannah has £3.5-million of cash to assist during this restricted time, while having no debt to pay off.
However, the company says it will closely manage its working capital, with cash conservation plans being implemented.