SYR 1.49% 34.0¢ syrah resources limited

Ann: December 2023 Quarterly Activities and Cashflow Report, page-30

  1. 350 Posts.
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    This is an incredible long term story but seems to me that the balance sheet won't last the immediate crappy market environment .... I reckon this is what the shorters are focusing on.

    $47m in unrestricted cash, negative operating cashflow of $20-25m per quarter and debt lines fully drawn. Whilst they are negotiating a US$150m facility with the US International Development Finance Corp, I reckon they'll want to see equity raised given the market cap is now well below current gross debt.

    Management should just get on and raise some equity otherwise they'll be raising it sub-20c and the raising size may be more than the market cap!

    What am I missing?

    All my opinion
 
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