My summary of this announcement after a quick skim is. They are basically going in hibernation in the short term, keeping a local skeleton crew. To whether Covid and tough short-term market conditions (probably related to covid i.e. demand and restriction of employee movement). They Didn't produce any graphite last quarter, and I assume that will be the case in the short term next quarter maybe two. They say there is a lead in time of 2-3 months to ramp back up production.
So no material revenue expected over the next two quarters, but at least they have plenty of cash to weather the storm. Although that will be frustrating.
Anyone know of anything that will change the short term landscape of this company? I feel they are going dormant until the Covid gets under control or a supply agreement is struct.
SYR Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
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