Savannah lauds production of saleable quartz and feldspar products

A statement from the company said the quartz and feldspar products, which can be used in the ceramics industry, have potential price ranges of $65-100 per tonne and $60-100 per tonne respectively.

These prices are being significantly higher than conservative values used in a recent scoping study, which indicated just $39 per tonne for feldspar and $33 per tonne for quartz.

The new test work was independently evaluated and confirmed by ceramics industry expert First Test Minerals.

The AIM traded company also produced Bulk Tail with a potential price range of $40-45 per tonne and stated that each of the products have low levels of potential impurities, below maximum limits specified by customers.

David Archer, chief executive of Savannahs, said: "The area in which we operate is a major quarrying region for ceramic materials which supply the vibrant ceramics industries in both Portugal and Spain. Importantly, having multiple product streams means we are maximising the value adding potential of the project while also reducing the volume of non-saleable material that will need to be emplaced on site in contoured and vegetated landforms."

Savannah’s shares were up 4.55% at 5.75p at 1607 GMT.