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Savannah Resources PLC chief “optimistic” of gaining Rio Tinto JV approval

David Archer, chief executive of Savannah Resources PLC (LON:SAV) talks to Proactive about the extension to the deadline for sorting out the firm’s proposed Mutamba/Jangamo joint venture in Mozambique.

The JV is with mining giant Rio Tinto PLC (LON:RIO) and the two companies have agreed to extend again the long stop date for fulfilment of the conditions precedent of the joint venture from  March 31 to June 30, or even later if both parties agree in writing.

Archer says he is “very optimistic that everything is moving in the right direction” and expects to receive the final go-ahead shortly.

Quick facts: Savannah Resources PLC

Price: 2.215 GBX

AIM:SAV
Market: AIM
Market Cap: £28.74 m
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Excellent results from both projects despite delays, says Savannah Resources Plc

Savannah Resources Plc (LON:SAV) chief executive officer David Archer says the group is intent on moving forward after delays at its Oman projects. “We’ve said some very harsh words to our drilling contractor and we’re looking to a speedy and less problematic programme from here,” says...

on 08/04/2016

2 min read