Note that the deal with Tesla requires Syrah to meet the qualification requirements of AAM from Vidalia Plant by "no later than 31st of May 2025".
But that does not mean a decision can be announced before that date.
The recent buying suggests postive news is coming soon. Short sellers may be covering. And who knows, someone may be planning to take a 10% equity stake in Syrah.
Hmmm. Interim report on the investigation into Chinas use of dumped synthetic graphite also is imminent.
USA graphite miners and AAM producers are seeking a 900% tariff on Chinese graphite. If even 300% put on, it should see price of graphite (-100% mesh) in rocket from US$470 per tonne to US$850 to US$950 a tonne. And only Syrah (ex. China) at the moment can supply large quantities.
SYR Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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