Scoping Study for the Mina do Barroso Lithium Project Delivers NPV of US$356m
Original announcement by research on
- Company
- Savannah Resources plc
- Ticker
- SAV
- Exchange
- LSE
- Region
- northern Portugal
- Primary commodity
- Lithium
- Secondary commodities
- Iron ore, Feldspar, Quartz
- Document categories
- Other, Resource update
- Extracted
- 2026-11-03 10:14:33 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Savannah Resources reported a scoping study for the Mina do Barroso lithium project in northern Portugal, outlining an open-pit mine and concentrator with DMS and flotation. The study estimates a pre-tax NPV8 of US$356m, IRR of 63.2%, and initial capex of US$136.0m, based on a 14.42Mt mining inventory. It is a preliminary economic assessment, so the numbers are indicative and still need feasibility-stage work and approvals.
Reasoning: A scoping study with robust headline economics and a defined lithium development plan is materially positive, but it remains preliminary and subject to feasibility-level refinement.
Positive factors
- Scoping study reports pre-tax NPV8 of US$356m and IRR of 63.2%
- Open pit mining and conventional DMS + flotation processing are described
- Project economics include a 14.42Mt mining inventory at 1.07% Li2O and average annual production of ~175,000tpa spodumene concentrate
- Competent Persons are named for exploration, resources and the scoping mining assessment
Negative factors
- Scoping-level study, so estimates remain preliminary
- The study assumes 80% Li2O recovery and notes potential for metallurgical optimisation rather than completed improvement
- Project still needs feasibility study, environmental approvals and fast-track execution
Rubric flags
- resource rows in a scoping study are restated historical inputs, not a new resource update — Keep resource facts flagged historical and treat the document primarily as an economic_study.
Facts used in scoring: 16
Classification and evidence
PFS Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: The study is a scoping study intended to fast-track the project toward feasibility, with NPV, IRR, capex and payback metrics reported.
Evidence · text
“Scoping Study for the Mina do Barroso Lithium Project Delivers NPV of US$356m”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The resource and competent person disclosures explicitly reference the 2012 JORC Code and Competent Person sign-off.
Evidence · text
“qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves””
QP/CP Signedpositive
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: Named Competent Persons are provided for the exploration results, Mineral Resources, and scoping mining assessment.
Evidence · text
“The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson”
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The mineral resource is explicitly reported using a 0.5% Li2O cut-off grade.
Evidence · text
“using a 0.5% Li₂O cut-off grade”
No QP/CP Disclosurenegative
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: The scoping study economics themselves do not name a single qualified person responsible for the economic model, though CPs are named elsewhere in the document.
Evidence · text
“The scoping level mining assessment of the Mino Do Barroso Deposit has been completed by Mr Nigel Spicer”
Extracted facts
Stored fact records: 16. Some facts used in scoring do not have a stored record.
Resource Estimates (16)
indicatedMina do Barroso Lithium Project · lithiumTonnes: 7160000Grade: 1.06Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:29c8559072d6affb3f20
- Deposit or zone
- Grandao
Resource Data
- Category
- indicated
- Tonnes
- 7160000
- Grade
- 1.06
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is a directly stated Indicated lithium resource row used in the study basis, but it is a restatement of the April 2018 resource estimate.
Positive factors
- Indicated resource row is explicitly reported in the scoping study table
- Cut-off grade is disclosed at 0.5% Li2O
- JORC Competent Person sign-off is named
Negative factors
- This is a historical resource row restated inside a scoping study rather than a new estimate
- No contained metal column is separately stated for this row
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 2600000Grade: 1.13Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:e9bd28847476c670d52a
- Deposit or zone
- Grandao
Resource Data
- Category
- inferred
- Tonnes
- 2600000
- Grade
- 1.13
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is a historical Inferred lithium resource row supporting the study input, not a new estimate.
Positive factors
- Inferred resource tonnage and grade are explicitly stated for Grandao
- Cut-off grade is disclosed at 0.5% Li2O
- The estimate is signed off by a named Competent Person
Negative factors
- Historical resource row repeated in the study context
- Inferred category carries lower confidence than indicated material
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 2610000Grade: 1.01Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:4fabfb4b6c9d47090591
- Deposit or zone
- Reservatorio
Resource Data
- Category
- inferred
- Tonnes
- 2610000
- Grade
- 1.01
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is a historical Inferred lithium resource row included in the study's feed inventory.
Positive factors
- Reservatorio inferred resource is explicitly tabled in the study
- Cut-off grade is stated
- The project is described as open-pit mining
Negative factors
- Historical resource row restated in an economic study
- Inferred category lowers confidence
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 1600000Grade: 1.09Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:9ab066efc42135efed88
- Deposit or zone
- Reservatorio
Resource Data
- Category
- inferred
- Tonnes
- 1600000
- Grade
- 1.09
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the conceptual Reservatorio exploration-target component used in the scoping study, with a stated grade.
Positive factors
- The table explicitly reports exploration-target material for Reservatorio
- Grade range is in the 1.0% to 1.2% Li2O band used in the study
Negative factors
- This is part of the conceptual exploration target, not a resource estimate
- Exploration target tonnage is conceptual and not a mineral resource
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 270000Grade: 1.21Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:cbb62afb3d6eff17c513
- Deposit or zone
- NOA
Resource Data
- Category
- inferred
- Tonnes
- 270000
- Grade
- 1.21
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is a historical NOA inferred resource row included in the study's feed inventory.
Positive factors
- NOA feed inventory is explicitly stated in the table
- The project basis is a defined open-pit scoping study
Negative factors
- Inferred category only
- Historical resource row rather than a new estimate
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 180000Grade: 1.1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:f3e99563a51d208e6340
- Deposit or zone
- Grandao
Resource Data
- Category
- inferred
- Tonnes
- 180000
- Grade
- 1.1
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the conceptual Grandao exploration-target component, not a new resource estimate.
Positive factors
- Grandao exploration-target material is explicitly tabled
- Grade is within the conceptual target band
Negative factors
- Exploration target material is conceptual and not yet a mineral resource
- Historical basis within a scoping study
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 5480000Grade: 1.07Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:e79b580f764ad92a17fe
- Deposit or zone
- Grandao
Resource Data
- Category
- inferred
- Tonnes
- 5480000
- Grade
- 1.07
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the Grandao inferred resource input used in the combined mining inventory.
Positive factors
- Grandao inferred material is explicitly stated as part of the plant feed inventory
- Cut-off grade is disclosed
- This supports the scoping study mine plan
Negative factors
- Historical resource input rather than fresh drilling results
- Inferred material carries lower confidence
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 1780000Grade: 1.09Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:be08437773c21f351c88
- Deposit or zone
- Reservatorio
Resource Data
- Category
- inferred
- Tonnes
- 1780000
- Grade
- 1.09
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the conceptual Reservatorio exploration-target material included in the study basis.
Positive factors
- Reservatorio exploration-target component is explicitly shown in the table
- Grade is within the study's target range
Negative factors
- Conceptual exploration target material, not a resource estimate
- Historical context
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 14000000Grade: 1.1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:74c414cdc45930588788
- Deposit or zone
- Total Current Project Target
Resource Data
- Category
- inferred
- Tonnes
- 14000000
- Grade
- 1.1
- Grade Unit
- % Li2O
- Cutoff Grade
- 0.5
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the total inferred resource basis for the scoping study, but it is restated from the April 2018 resource estimate.
Positive factors
- The combined inferred mineral resource total is explicitly reported
- Cut-off grade is disclosed
- Used directly in the scoping study mine plan
Negative factors
- Historical resource aggregation rather than a new estimate
- Inferred-only category mix
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 8000000Grade: 1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:3dce2b7cd09624894d6f
- Deposit or zone
- Total Current Project Target
Resource Data
- Category
- inferred
- Tonnes
- 8000000
- Grade
- 1
- Grade Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the lower bound of the conceptual project target, not a new resource row.
Positive factors
- The conceptual exploration target lower bound is explicitly stated
Negative factors
- Exploration target is conceptual and not a mineral resource
- No cut-off grade is stated for the exploration target
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 12000000Grade: 1.2Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:98b53191497166719df0
- Deposit or zone
- Total Current Project Target
Resource Data
- Category
- inferred
- Tonnes
- 12000000
- Grade
- 1.2
- Grade Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the upper bound of the conceptual project target, included for completeness.
Positive factors
- The conceptual project target upper grade bound is explicitly stated
Negative factors
- Exploration target is conceptual and not a mineral resource
- No cut-off grade is stated for the exploration target
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
indicatedMina do Barroso Lithium Project · lithiumTonnes: 500Grade: 1.1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:af28d8714c70ee15f4a9
- Deposit or zone
- Grandao
Resource Data
- Category
- indicated
- Tonnes
- 500
- Grade
- 1.1
- Grade Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the indicated-component split implied by the table's 50% indicated allocation.
Positive factors
- A 50% indicated split is explicitly given in the summary table
Negative factors
- This figure is derived from the percentage split in the scoping study table and is not a standalone estimate row
- Very small tonnage relative to the main resource
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut Off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 380Grade: 1.1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:d1096b7a629677387a73
- Deposit or zone
- Grandao
Resource Data
- Category
- inferred
- Tonnes
- 380
- Grade
- 1.1
- Grade Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the inferred-component split implied by the table's 38% inferred allocation.
Positive factors
- The resource split by percentage is explicitly stated in the study summary
Negative factors
- Derived from the percentage split rather than a separate estimate row
- Very small tonnage
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 120Grade: 1.1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:23d7c225b6755f17e1fb
- Deposit or zone
- Grandao
Resource Data
- Category
- inferred
- Tonnes
- 120
- Grade
- 1.1
- Grade Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the exploration-target component implied by the 12% allocation.
Positive factors
- The exploration-target percentage is explicitly stated
Negative factors
- This is a derived split from the conceptual target percentage, not a standalone estimate
- Conceptual target material only
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 800Grade: 1.1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:3da0fbe13f529b85142d
- Deposit or zone
- Reservatorio
Resource Data
- Category
- inferred
- Tonnes
- 800
- Grade
- 1.1
- Grade Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the conceptual exploration-target component implied for Reservatorio.
Positive factors
- The resource split table gives the project-level percentage allocation
Negative factors
- Derived split from percentage, not an independently stated row
- Very small tonnage
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
inferredMina do Barroso Lithium Project · lithiumTonnes: 1280Grade: 1.1Grade Unit: % Li2OHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mina do Barroso Lithium Project
- Commodity
- lithium
- Region
- northern portugal
- Reported Region
- northern Portugal
- Ticker
- SAV
Resource scope
- Estimate type
- resource
- Effective date
- 2018-04-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Payne
- Resource group id
- resource:4766f6ee31f1d51860be
- Deposit or zone
- Reservatorio
Resource Data
- Category
- inferred
- Tonnes
- 1280
- Grade
- 1.1
- Grade Unit
- % Li2O
Prior Estimate
- Resource Date
- 2018-04-01
Lab
- Laboratory
- Nagrom
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2018-04-01T00:00:00.000Z
Reasoning: This is the upper conceptual target split implied for Reservatorio.
Positive factors
- The target range is explicitly stated in the table
Negative factors
- Derived from the conceptual target range, not a standalone estimate
- Conceptual target material only
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut Off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 8.6 years before this release
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.