# Savannah Exercises Option to Acquire the Aldeia Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b Original source: https://www.rns-pdf.londonstockexchange.com/rns/4080D_1-2019-6-25.pdf Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-10-20T00:10:58.064Z Atlas analysis updated: 2026-10-20T00:10:58.064Z - Company: Unavailable - Ticker: SAV - Exchange: LSE - Region: Northern Portugal - Primary commodity: Lithium - Secondary commodities: Iron ore - Document categories: Agreement transaction, Resource update - Extracted: 2026-10-20 00:10:58 UTC Narrative sentiment: 0.45 · Bullish ## Minestarters Atlas summary Savannah exercised its option to acquire the Aldeia Mining Lease Application areas adjacent to its Mina do Barroso lithium project in northern Portugal. The announcement says the exercise follows excellent drilling results and the maiden JORC resource at Aldeia Block A, which was published in May 2019. The acquisition is structured as a long-term staged payment deal and still depends on approvals and transfer of mining rights. Reasoning: The main current event is Savannah exercising its option to acquire the Aldeia mining lease application areas, with the resource estimate presented as supporting background rather than the primary event. - Positive factor: Option exercised to acquire adjacent Aldeia Mining Lease Application areas - Positive factor: Adds to the 100% owned Mina do Barroso Lithium Project portfolio - Positive factor: Maiden JORC Mineral Resource Estimate of 3.5Mt at 1.3% Li2O is cited as supporting context - Negative factor: Acquisition remains subject to approval of competent government authorities - Negative factor: Purchase price is staged and payable only once the Mining Lease Application is granted and mining rights transferred Facts used in scoring: 7 ## Classification and evidence **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The release states that a maiden JORC Mineral Resource Estimate of 3.5Mt at 1.3% Li2O was published for Aldeia Block A. Evidence · text > A maiden JORC Mineral Resource Estimate of 3.5Mt at 1.3% Li2O was published **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Two competent persons are named for the exploration results and mineral resources, including Paul Payne for the Mineral Resources. Evidence · text > Mr Payne is a full-time employee of Payne Geological Services. **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 resource table explicitly states a 0.5% Li2O cut-off. Evidence · text > Table 1. May 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) **Nearology Play** Polarity: neutral Story-specific tag Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The release positions Aldeia as adjacent to Mina do Barroso and notes similarity to the Grandao orebody located just 2km away. Evidence · text > located adjacent to Mina do Barroso ## Extracted facts Stored fact records: 7. Some facts used in scoring do not have a stored record. ## Resource Estimates (7) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b#fact-resource-facts-0) Aldeia · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Aldeia - Commodity: lithium - Region: northern portugal - Reported Region: Northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2019-05-31T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:ea6bfc7f3eb45eb3aef3 - Deposit or zone: Aldeia #### Resource Data - Category: indicated - Tonnes: 1600000 - Grade: 1.3 - Grade Unit: % Li2O - Contained Metal: 21300 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-05-31 #### Lab - Laboratory: unspecified #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-05-31T00:00:00.000Z Reasoning: The release cites the previously published maiden JORC resource for Aldeia Block A as supporting context to the option exercise. - Positive factor: JORC Mineral Resource Estimate is explicitly reported - Positive factor: Competent Person sign-off is stated - Positive factor: Contained lithium is disclosed - Negative factor: This is a historical resource reference within an acquisition announcement - Negative factor: No explicit mine method scope is stated in the table - Negative factor: Laboratory not stated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.4 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b#fact-resource-facts-1) Aldeia · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Aldeia - Commodity: lithium - Region: northern portugal - Reported Region: Northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2019-05-31T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:cb5917354604fa7525fa - Deposit or zone: Aldeia #### Resource Data - Category: inferred - Tonnes: 1800000 - Grade: 1.3 - Grade Unit: % Li2O - Contained Metal: 23700 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-05-31 #### Lab - Laboratory: unspecified #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-05-31T00:00:00.000Z Reasoning: The release cites the previously published maiden JORC resource for Aldeia Block A as supporting context to the option exercise. - Positive factor: JORC Mineral Resource Estimate is explicitly reported - Positive factor: Competent Person sign-off is stated - Positive factor: Contained lithium is disclosed - Negative factor: This is a historical resource reference within an acquisition announcement - Negative factor: No explicit mine method scope is stated in the table - Negative factor: Laboratory not stated #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.4 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b#fact-resource-facts-2) Aldeia · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Aldeia - Commodity: lithium - Region: northern portugal - Reported Region: Northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2019-05-31T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:1250b7b40ffa7afde9b7 - Deposit or zone: Aldeia #### Resource Data - Category: inferred - Tonnes: 3500000 - Grade: 1.3 - Grade Unit: % Li2O - Contained Metal: 45000 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-05-31 #### Lab - Laboratory: unspecified #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-05-31T00:00:00.000Z Reasoning: The release cites the maiden 3.5Mt resource for Aldeia Block A as background to the acquisition. - Positive factor: Maiden JORC Mineral Resource Estimate is explicitly reported - Positive factor: Competent Person sign-off is stated - Positive factor: Contained lithium is disclosed - Negative factor: This is a historical resource reference within an acquisition announcement - Negative factor: The table format in the source is partially compressed for the category rows - Negative factor: Laboratory not stated #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.4 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b#fact-resource-facts-3) Aldeia · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Aldeia - Commodity: iron\_ore - Region: northern portugal - Reported Region: Northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2019-05-31T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:ea6bfc7f3eb45eb3aef3 - Deposit or zone: Aldeia #### Resource Data - Category: indicated - Tonnes: 1600000 - Grade: 0.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2019-05-31 #### Lab - Laboratory: unspecified #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-05-31T00:00:00.000Z Reasoning: The resource table includes a Fe2O3 column for Aldeia Block A, indicating an additional grade column alongside lithium. - Positive factor: Reported as part of the resource estimate table - Positive factor: JORC sign-off is stated - Negative factor: The table appears compressed and iron oxide unit context is not fully explicit in the extracted text - Negative factor: Historical resource reference - Negative factor: Laboratory not stated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.4 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b#fact-resource-facts-4) Aldeia · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Aldeia - Commodity: iron\_ore - Region: northern portugal - Reported Region: Northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2019-05-31T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:cb5917354604fa7525fa - Deposit or zone: Aldeia #### Resource Data - Category: inferred - Tonnes: 1800000 - Grade: 0.4 - Grade Unit: % #### Prior Estimate - Resource Date: 2019-05-31 #### Lab - Laboratory: unspecified #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-05-31T00:00:00.000Z Reasoning: The resource table includes a Fe2O3 column for Aldeia Block A, indicating an additional grade column alongside lithium. - Positive factor: Reported as part of the resource estimate table - Positive factor: JORC sign-off is stated - Negative factor: The table appears compressed and iron oxide unit context is not fully explicit in the extracted text - Negative factor: Historical resource reference - Negative factor: Laboratory not stated #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.4 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b#fact-resource-facts-5) Aldeia · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Aldeia - Commodity: iron\_ore - Region: northern portugal - Reported Region: Northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2019-05-31T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:1250b7b40ffa7afde9b7 - Deposit or zone: Aldeia #### Resource Data - Category: inferred - Tonnes: 3500000 - Grade: 0.4 - Grade Unit: % #### Prior Estimate - Resource Date: 2019-05-31 #### Lab - Laboratory: unspecified #### Location - Loc. Confidence: inferred #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-05-31T00:00:00.000Z Reasoning: The total row of the resource table includes a Fe2O3 grade for Aldeia Block A. - Positive factor: Reported as part of the resource estimate table - Positive factor: JORC sign-off is stated - Negative factor: The table appears compressed and iron oxide unit context is not fully explicit in the extracted text - Negative factor: Historical resource reference - Negative factor: Laboratory not stated #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.4 years before this release ### Fact 7 [Link to this fact](https://atlas-extractions.minestarters.com/news/savannah-exercises-option-to-acquire-the-aldeia--e6e46a9d-3e00-44ef-9121-b94b9c6b442b#fact-resource-facts-6) Aldeia · lithium #### Identity - Project: Aldeia - Commodity: lithium - Region: northern portugal - Reported Region: Northern Portugal - Ticker: SAV #### Resource scope - Reporting standards: jorc - Resource group id: resource:85bf6ea1a6375bdf3265 - Ownership percent: 100 % #### Review - Needs Review: No - Historical: No Reasoning: The announcement uses the Aldeia resource as supporting background, not as a new resource update event. - Positive factor: Maiden JORC resource is cited as the basis for the acquisition rationale - Positive factor: The release states the deposit remains open to further resource extension - Negative factor: The resource details are historical support for a transaction announcement rather than the main event #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. 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 ## 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.