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Savannah Goldfields Limited (ASX:SVG)

ALERT: Price-sensitive ASX Announcement for SVG
Current share price for SVG : $0.012 0.002 (20%)+
Announcement
Release
2 Jun 2026 11:30AM
Price at Release
$0.010
Full Release
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Summary
Savannah Goldfields Limited is poised to resume mining operations at its Agate Creek Gold Project, having submitted a change application for an expanded Environmental Authority necessary for the updated mining activities. A preliminary draft of this authority has been received, with a final decision anticipated by mid-July 2026. The company has commenced early site preparations, including infrastructure improvements, as it awaits approvals. The Agate Creek site holds significant ore reserves, and an initial phase of mining is scheduled to produce 31,900 ounces of gold from 375,000 tonnes of ore. This ore will be transported to the Georgetown Gold Processing Plant, which continues to operate with existing feedstocks, ensuring ongoing gold production while the mine reopens.
Key Points
  • Savannah Goldfields Limited is preparing to resume mining at the Agate Creek Gold Project.
  • A change application was submitted for an updated Environmental Authority to DETSI in November 2025.
  • Preliminary Environmental Authority draft received from DETSI; decision expected by 13 July 2026.
  • Early site preparations in progress, including road stabilization and facility refurbishments.
  • Agate Creek Ore Reserves stand at 460,000 tonnes at 2.5 g/t Au containing 36,800 oz Au.
  • Initial mining and processing planned for 375,000 tonnes at 2.65 g/t Au containing 31,900 oz Au.
  • Ore will be processed at the Georgetown Gold Processing Plant through 2026, 2027, and into 2028.
  • Savannah Goldfields continues gold production at Georgetown plant with existing feedstocks.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.