AFR Article on Syrah & Today's Announcement, page-12

The risk SYR does cause me great concern. Spectreau did write a good synopsis of it and while I think SYR might be slightly more liquid than his assessment nevertheless he is spot on with his risk analysis. If there was not a trade war looming with China then SYR would likely be on the verge of bankruptcy. Trying to do another capital raise to try and squeeze out another six months of existence would be very nearly doomed. If SYR did not have Vidalia and if there was not a very real threat by China to cut off graphite to the US then the US government would probably have cut its losses. Sadly Balama is in Mozambique and at this point anything is possible from continued blockade to nationalisation of the asset, to some dodgy CCP backed investor paying a bribe and taking over the asset. However it does seem there is a reasonable chance that one way or another the political situation will be resolved by end of January. Someone will be made President in that month and even the most determined protesters usually tire and see the writing on the wall, at least until there is another trigger. The US needs SYR right now so I think renegotiations of loans should not be difficult. There is enough funding for at least one more full quarter. Hopefully things ramp up in Jan with increased graphite prices brought on by the trade war. Seriously, thank goodness for Trump. If it was a Biden administration I very strongly feel SYR would be going under right now.
Sadly over Christmas instead of watching the SP rise, I suspect this has considerably further to fall.