Savannah Goldfields (ASX: SVG) has announced significant progress in its quarterly activities report for the period ended 30 September 2025. Savannah Goldfields is focused on the exploration and development of gold projects. The company is actively working towards resuming gold production at its Georgetown gold processing plant (GGPP).
Key highlights include the continuation of activities aimed at restarting gold production at the Georgetown plant, utilising existing stockpiles and mining the Big Reef Inferred Mineral Resource. Exploration drilling has commenced at highly prospective targets near the GGPP, with transport and crushing of gold mineralised material underway. Restorative maintenance at the GGPP is on schedule, targeting completion before the end of October, with the first gold pour anticipated within the next week. Mining at the Big Reef project is scheduled to begin this quarter. The company is also advancing preparations to amend the Agate Creek Environmental Authority to accommodate expanded mining activities, with mining planned to recommence in Q2 2026.
Exploration efforts have yielded positive results, with high-grade gold assay results reported from drilling at Big Reef and Electric Light. Significant intercepts include 7m @ 5.34 g/t Au from 12m at Big Reef and 7m @ 9.92 g/t Au from 13m at Electric Light. Environmental Authorisations have been secured for processing Big Reef material at the GGPP and expanding the tailings storage facility. The company also announced a share placement of 1.0 billion new shares at 1.5 cents per share, raising A$15.0 million before costs, to support its production and resource growth initiatives.
Corporate activities included the issuance of placement shares in two tranches, raising a total of A$15.0 million before costs. These funds will be used to repay senior secured debt, recommence gold production at the Georgetown plant, and undertake exploration drilling programs. Savannah Goldfields is also evaluating opportunities to process third-party ores at the Georgetown plant, leveraging its strategic position in the region. Discussions are ongoing with local mining operators for potential toll treating arrangements.
