– UK, London – Savannah Resources plc (LON: SAV / FWB: SAV / SWB: SAV), the European lithium development company, announced the appointment of Mike Connor to its Board as a Non-Executive Director effective from 20 August 2024 as per the terms of the subscription agreement with its new largest shareholder and strategic partner, AMG Critical Materials N.V.
“It is my pleasure to welcome Mike to the Company as our new Non-Executive Director and representative of AMG as we begin this new phase in Savannah’s evolution with our new partner. Having a member of AMG’s own board join our leadership team clearly indicates the significance that our new partner places on its relationship with Savannah. Furthermore, we are fortunate that Mike brings highly relevant lithium sector knowledge to Savannah, which he has gained while helping AMG build their own lithium business over recent years. The team and I are very much looking forward to working with him and the senior management team from AMG Lithium as we develop our Project into a responsibly managed source of lithium for Europe, which generates significant socio-economic benefits for all its stakeholders.” said Board Chairman, Rick Anthon.
About Mike Connor
Mike Connor joined AMG in 2010 and served in various positions within the Company, including as the Corporate Controller of the AMG Group for close to a decade before being appointed CCDO and a Management Board member of AMG in May 2024. In his Board role at AMG, he was significantly involved in creating the strategic partnership with Savannah.
Mike Connor said: “I am grateful for the opportunity to join the Savannah team as a board member. I look forward to contributing my skills and experience, and to collaborating to achieve positive outcomes for both the Company and the communities we serve. Mining goes beyond extracting minerals, it’s about creating opportunities, fostering local prosperity, and nurturing a resilient and thriving community. Savannah is uniquely positioned to execute on all three of these goals. I hope to draw from my experience at AMG, where we have built a successful lithium mining operation in Brazil, to help guide the strategic decisions at Savannah toward sustainable growth, unlocking opportunities for the local community, the Company, and the shareholders.”
Mike Connor is CCDO and a Management Board member of AMG Critical Materials N.V.. With over twenty years of experience in finance, corporate development, and strategic planning, he brings a blend of technical expertise and leadership skills. Mr. Connor’s experience at AMG includes being an integral part of the leadership team that financed, constructed and successfully operated a lithium mining operation in Brazil, as well as the first lithium conversion plant in Europe.
About Savannah Resources
Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project in northern Portugal, the largest battery-grade spodumene lithium resource outlined to date in Europe.
Through the Barroso Lithium Project, Savannah will help Portugal provide a long-term, locally sourced, lithium raw material supply for Europe’s rapidly developing lithium battery value chain. After the Environmental Licence was granted in May 2023 and the Scoping Study confirmed the economic potential of the Project in June 2023, production is now targeted and on track to begin in 2026. At that stage, Savannah will start producing enough lithium (contained in c.190,000tpa of spodumene concentrate) for approximately half a million vehicle battery packs per year, equal to a significant portion of the European Commission’s Critical Raw Material Act goal of a minimum of 10% of European endogenous lithium production set for 2030. Savannah is focused on the responsible development and operation of the Barroso Lithium Project so that its environmental impact is minimized and the socio-economic benefits it can bring to all its stakeholders are maximized.
In June 2024, Savannah entered a strategic partnership with AMG Critical Materials N.V., the global critical materials business, and established lithium market participant. AMG has invested GBP 16m in Savannah in exchange for a 15.8% stake in the Company and an a5-year, 45ktpa spodumene offtake agreement. This investment alongside existing cash provides Savannah with the finance required to take the Project to a Final Investment Decision point. AMG can increase its offtake to 90ktpa for 10 years if it allows for an acceptable full-project funding solution for the Project’s construction.
For more: https://www.savannahresources.com/
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