# MRG SECURES OPTION TO ACQUIRE SAVANNAH RESOURCES PLC OWNED Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e Original source: https://announcements.asx.com.au/asxpdf/20221109/pdf/45hdd19pj050rf.pdf Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-11-11T14:40:56.513Z Atlas analysis updated: 2026-11-11T14:40:56.513Z - Company: Savannah Resources plc - Ticker: SAV - Exchange: LSE - Region: Mozambique - Primary commodity: Heavy minerals - Secondary commodities: Ilmenite, Rutile, Zircon, Titanomagnetite - Document categories: Agreement transaction, Resource update, Other, Metallurgy - Extracted: 2026-11-11 14:40:56 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary MRG Metals announced a binding heads of agreement to enter an option with Savannah Resources' subsidiary to acquire the Jangamo Project in Mozambique. The release also restates the project's historical JORC resource and mineralogy, but those figures are background to the transaction rather than new results. It describes due diligence, a planned work program, and option terms including cash/share consideration and a royalty. Reasoning: Main current event is MRG's option transaction over Savannah-owned Jangamo, with historical resource/mineralogy details supporting the deal context. - Positive factor: Binding Heads of Agreement gives MRG an exclusive 45-day due diligence period and a 16-month option period - Positive factor: The Jangamo Project is described as a 65Mt @ 4.2% Heavy Mineral Sand licence in an already granted Mining Concession - Positive factor: The announcement includes a stated work program and transaction terms - Negative factor: The release is primarily a transaction announcement rather than a new technical result - Negative factor: The resource and mineralogy details are historical background - Negative factor: The work program and future development timing are contingent on due diligence and option exercise - Rubric flag: resource\_update completeness — If treating the historical resource table as a resource\_update, the release contains multiple grade columns and should be extracted with commodity-specific facts for all listed grade fields, not just the headline THM figure. Facts used in scoring: 12 ## Classification and evidence **Nearology Play** Polarity: neutral Story-specific tag Definition: The disclosed value premise relies on proximity to another known deposit rather than the issuer's own results. Mere location or along-strike wording in a release that reports its own drilling does not establish this premise. Why it applies: The project is positioned as 170km NE from the Corridor Projects and mentions nearby Mutamba development as infrastructure context. Evidence · text > The Jangamo Project is located 170km NE **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The historical resource table is explicitly headed as a 2.5% cut-off estimate. Evidence · text > Table 1: Resource Table \(2.5% Cutoff\) **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The release states the resource estimate is JORC 2012 compliant. Evidence · text > has a JORC 2012 compliant resource estimate **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: The resource table reports Jangamo as an Inferred Resource. Evidence · table > Jangamo Inferred Resource Context: Table 1: Resource Table \(2.5% Cutoff\) **Historical Estimate Only** Polarity: negative Definition: The source explicitly identifies the estimate as historical and not verified as a current resource/reserve under the applicable reporting standard. An old effective date alone does not establish non-compliance; retain any verification and cautionary statements. Why it applies: The resource and mineralogy figures are restated from prior Savannah/AIM releases rather than announced as new estimates in this document. Evidence · text > Refer AIM announcement; Savannah Resources Plc **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("concentrator"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Single Domain Only** Polarity: negative Definition: The source establishes that the completed programme is limited to one composite or ore domain and representativeness across the relevant material is not established. One extracted sample alone does not prove that the source tested no others. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Resource Estimates (9) ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-0) Jangamo Project · heavy minerals Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: heavy minerals - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 4.2 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Historical JORC inferred resource of 65Mt at 4.2% THM is restated as project background. - Positive factor: JORC compliant inferred resource is stated for the project - Positive factor: The resource is sized at 65Mt - Negative factor: Historical estimate restated in a transaction/background section - Negative factor: Cut-off grade is disclosed only as a table heading reference, with no new estimate work reported Evidence · text > Jangamo Project, a 65Mt @ 4.2% Heavy Mineral Sand #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-1) Jangamo Project · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: ilmenite - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 60 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Ilmenite grade from the historical resource table is restated. - Positive factor: Ilmenite grade is explicitly disclosed in the resource table - Negative factor: Historical table restated rather than newly reported Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-2) Jangamo Project · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: ilmenite - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 2.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Ilmenite in heavy minerals is restated from the historical table. - Positive factor: Ilmenite in HM is explicitly listed - Negative factor: Historical resource table Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-3) Jangamo Project · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: rutile - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 0.083 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Rutile in heavy minerals is restated from the historical resource table. - Positive factor: Rutile grade is explicitly disclosed - Negative factor: Historical resource table Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-4) Jangamo Project · rutile Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: rutile - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 0.15 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Rutile in sand is restated from the historical resource table. - Positive factor: Rutile in sand is explicitly disclosed - Negative factor: Historical resource table Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-5) Jangamo Project · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: zircon - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 2.7 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Zircon in heavy minerals is restated from the historical resource table. - Positive factor: Zircon grade is explicitly disclosed - Negative factor: Historical resource table Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-6) Jangamo Project · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: zircon - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 1.6 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Zircon in sand is restated from the historical resource table. - Positive factor: Zircon in sand is explicitly disclosed - Negative factor: Historical resource table Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-7) Jangamo Project · ilmenite Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: ilmenite - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 0.054 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Contained ilmenite metric from the historical table is restated. - Positive factor: Contained HM mineralogy is explicitly listed - Negative factor: Historical resource table Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-resource-facts-8) Jangamo Project · zircon Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: zircon - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a711504d4fbf36abfc4e - Deposit or zone: Jangamo #### Resource Data - Category: inferred - Tonnes: 65000000 - Grade: 0.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2014-12-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2014-12-31T00:00:00.000Z Reasoning: Contained zircon metric from the historical table is restated. - Positive factor: Contained zircon metric is explicitly listed - Negative factor: Historical resource table Evidence · table > Jangamo Inferred Resource 65 4.2 60 2.5 0.083 0.15 2.7 1.6 0.054 0.10 Context: Table 1: Resource Table \(2.5% Cutoff\) – Zones / Category / Sand / THM / Ilmenite In HM / Ilmenite In Sand / Rutile In HM / Zr In Sand / HM / Ilm / Rut / Zr #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 11.9 years before this release ## Metallurgical Results (3) ### bulk sample [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-metallurgical-facts-9) Jangamo Project · heavy minerals Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: heavy minerals - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Test Work - Program Status: scoping - Test Type: bulk sample - Processing Route: wet gravity separation - Sample: JMRC005 and JMRC027 within the MRE areas #### Lab - Laboratory: Allied Mineral Laboratory #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2018-08-01T00:00:00.000Z Reasoning: Historic mineralogical testwork is referenced, but the release provides composition rather than recovery results. - Positive factor: Bulk sample mineralogical investigations are identified by laboratory - Negative factor: Results are historical background and no recovery percentages are reported Evidence · text > Bulk sample mineralogical investigations were conducted by Allied Mineral Laboratory in Australia #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### bulk sample [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-metallurgical-facts-10) Jangamo Project · heavy minerals Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: heavy minerals - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Test Work - Program Status: scoping - Test Type: bulk sample - Processing Route: wet gravity separation - Sample: JMRC005 and JMRC027 within the MRE areas #### Lab - Laboratory: Allied Mineral Laboratory #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2018-08-01T00:00:00.000Z Reasoning: Historic mineralogical composition from drillholes JMRC005 and JMRC027 is restated. - Positive factor: QEMSCAN mineralogy is explicitly stated - Negative factor: Historical background rather than current test result Evidence · table > JRMC005 1.9 58.2 3.1 36.8 Context: Table 2.8: QEMSCAN HM composition / Sample / Rutile / Ilmenite / Zircon / Others #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### bulk sample [Link to this fact](https://atlas-extractions.minestarters.com/news/mrg-secures-option-to-acquire-savannah-resources-plc-owned--c739924f-0418-4e26-8531-04d62121033e#fact-metallurgical-facts-11) Jangamo Project · heavy minerals Historical result Needs review: historical\_restatement #### Identity - Project: Jangamo Project - Commodity: heavy minerals - Region: mozambique - Reported Region: Mozambique - Ticker: SAV #### Test Work - Program Status: scoping - Test Type: bulk sample - Processing Route: wet gravity separation - Sample: JMRC005 and JMRC027 within the MRE areas #### Lab - Laboratory: Allied Mineral Laboratory #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2018-08-01T00:00:00.000Z Reasoning: Historic mineralogical composition from drillholes JMRC005 and JMRC027 is restated. - Positive factor: QEMSCAN mineralogy is explicitly stated - Negative factor: Historical background rather than current test result Evidence · table > JRMC027 1.7 59.9 3.1 35.3 Context: Table 2.8: QEMSCAN HM composition / Sample / Rutile / Ilmenite / Zircon / Others #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.