News: SYR Tesla supplier Syrah expects more graphite buys ahead of China export ban, page-22

when do you think they will ramp up balama? - I thought Balama would come close to 350ktpa this year before the Chinese turned to cheap low quality synthetic because of the price wars. Not knowing how the China bans will turn out, the wests response or when the Chinese turn back to natural because of ESG, high power usage causing black-outs etc, it's hard to tell. There is just too many known unknowns and unknowns.

A couple of scenarios are if the wests response is go hard building AAM plants which you can build quicker than mines, Balama can start ramping slowly from producing 10kt/mth in 12 months (campaign runs in the mean time) to full production in 4yrs. Some AAM plants are already being built. If the Chinese back off and switch back to a 40:60 natural/synthetic mix, Balama can begin ramp up to full production the day after it happens.

Battery manufacturing has increase in GWh terms by 40% from last year. That's 40% more natural AAM required at last years mix rate. Output from Chinese mines hasn't increased by 40%. Battery manufacturing will continue to grow. Maybe not at the same growth rates but grow it will. The US and EU giga plants start coming online in numbers next year if they can secure the graphite.

will balama be ever profitable? - It was last month during the campaign run. Continuity and economy of scale will increase the margins

when will vidialia come to production for 11.25kpta? - full production between 12 and 18 months. Closer to 12 if the US want to throw manpower and lab time at it. It's time consuming calibrating all the mills and shapers. Every batch needs testing, then recalibrating and testing again until they get it right. There are a lot of mills and shapers to calibrate.

Then there is the purity, an acid wash to get the impurities out of the SPG, carbon coating and baking in the furnace. You can commission the purity, coating and furnace with the first SPG rejects from the shaping which aren't quiet right but close. Purifying, coating and baking is the easy bit.

SYR have enough cash on hand plus a reserve to get to first sales.