StockMarketWire.com - Lithium concentrate developer Savannah Resources said it had raised £5m from a share issue to help develop its Mina do Barroso project in Portugal.

The company said it had raised about £3.76m through an issue of shares at 2p each.

It had also received letters of intent for a further investment of £1.24m from major shareholder Al Marjan and alternate directors and staff.

The funds would be predominantly be used to complete a definitive feasibility study on the Mina do Barroso project.




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