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Savannah Goldfields Limited (ASX:SVG)

ALERT: Price-sensitive ASX Announcement for SVG
Current share price for SVG : $0.009 -0.001 (-10%)+
Announcement
Release
31 Jul 2026 4:20PM
Price at Release
$0.010
Full Release
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Summary
Savannah Goldfields Limited's quarterly activities report for the period ending 30 June 2026 highlights continued gold production at the Georgetown Gold Processing Plant with substantial sales of gold and silver. The company received approval to expand mining activities at Agate Creek and reported increases in Mineral Resources for the Electric Light and Red Dam projects. Favorable metallurgical results suggest high recovery rates for gold, supporting the potential development of a new gold processing plant at Agate Creek. Financing efforts have been initiated to bolster operations in Far North Queensland, alongside planned exploration activities and environmental compliance measures.
Key Points
  • Savannah Goldfields Limited maintained gold production at the Georgetown Gold Processing Plant (GGPP) with weekly gold pours.
  • Gold sales for the quarter amounted to 834 oz Au and 212 oz Ag, with additional sales in July.
  • Average sales prices were $6,241/oz for gold and $102/oz for silver.
  • The Environmental Authority amendment for Agate Creek was approved, allowing expanded mining activities.
  • The Electric Light and Red Dam projects saw updates in Mineral Resources, with significant increases reported.
  • Favorable metallurgical test results were obtained for Electric Light and Red Dam, indicating high gold recovery potentials.
  • Plans for a new standalone gold processing plant at Agate Creek are being explored.
  • Cultural Heritage surveys were completed, facilitating future exploration planning.
  • Strategic financing transactions were announced to support ongoing operations and projects in Far North Queensland.
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.