Savannah Resources PLC (SAV:AIM) delivered a highly positive investor update, with CEO Emanuel Proença confirming the company’s latest fundraising round was oversubscribed, securing US$12 million (£9.2 million) plus additional retail participation. The new capital strengthens Savannah’s balance sheet to around US$26 million (£20 million), enabling the company to progress its Definitive Feasibility Study (DFS) for the Barroso Lithium Project in Portugal and advance early-stage construction and financing preparations. Institutional investor participation has nearly doubled since June, with notable backing from AMG Critical Materials, Ruvuma, and Tourism Investments, alongside growing Portuguese and Spanish institutional interest. The oversubscription underscores market confidence in Savannah’s strategic positioning within Europe’s lithium value chain. Funds will accelerate DFS completion, front-end engineering and design (FEED), and project finance activities targeted for finalisation by late summer next year. Savannah also plans to acquire the Aldeia concession, expanding its resource base to an estimated 39 million tonnes, with additional exploration potential of 35–62 million tonnes. With an enhanced management and technical team, including experienced hires from Australia and Portugal, the company is preparing for the transition from development to production. Savannah reaffirmed that its cost estimates remain within expected parameters despite inflationary pressures and is actively engaging strategic and financial partners, including European and Japanese entities, to support project funding. This update highlights Savannah’s steady progress toward Final Investment Decision (FID) and its goal to establish Europe’s largest lithium spodumene operation, reinforcing its role in advancing regional employment, community development, and Europe’s energy transition.