Maybe. They have implemented cash conservation plans.
David Archer:
“In terms of financing our ongoing work, Savannah finished 2019with £3.5m of cash and no debt, so we retain an adequate working capital position to fund our current work schedules during this challenging period. Looking further ahead, it has always been Savannah’s intention to blend a number of sources of finance to develop the Mina do Barroso Lithium Project and we are confident that the formalisation of the commercial agreements and strategic partnerships which we are currently negotiating will help with that process.This will be either via providing capital directly for the project, or by providing the commercial structure around the project,which will help to de-risk the opportunity sufficiently to attract other forms of finance such as debt and royalties."
AUQ Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
