Ann: Syrah announces economic assessment for spherical graphite, page-25

"SYR can't do a CR until this item is on the table for all to read."

You've reminded me where to look, thanks DSD.

I've been trying to locate the SYR announcement put out a while back that said ...."The Balama project is considered a Mega Project for the purpose of the Mega‐Projects Law....it's linked below and the following declaration was made on page 48. This was the presentation made at the time of the institutional equity placement, where ALL the risks are laid out.

As I said previously - there are two separate laws. The Mining Law SYR escaped falling under, the Mega Project Law they have not mentioned anywhere (that I can see, but if anyone else has sighted please link it) they are exempt from, since making this declaration.........

Regulatory risk

The Company’s businesses are subject, in each of the countries in which it operates, to various national and local laws and regulations relating, among other things, to exploration activities. A change in the laws which apply to Company’s businesses or the way in which they are regulated could have a material adverse effect on the carrying value of material assets or otherwise have a material adverse effect on the Company’s businesses and financial condition. In Mozambique, a draft of the new Mining Law was prepared over the course of this year and is likely to become law some time in the first quarter of 2013. The final form of the Mining Law is yet to be settled and it is uncertain how it might affect the Company’s operations. In addition, the Mega‐Projects Law was recently passed (Law n.ᵒ 15/2012 of 10 August), with the aim of sharing with the Mozambique public the “financial benefits” and “socio‐economic benefits” of large scale mining projects. All qualifying projects – Public Private Partnerships (“PPP”), Large Scale Projects (“LSP”) and Business Concessions (“BC”) – must (a) reserve between 5% ‐ 20% of the project for distribution to the Mozambican public via disallowed, on commercial terms; and (b) cause the financial benefit to the State from the Project to be not less than 35% the total annual profit. The Balama project is considered a Mega Project for the purpose of the Mega‐Projects Law. In addition Decree 16/2012 of 4 July provides that the State reserves the right to negotiate a participating interest, free of charge, of at least 5%, in any phase of a resource project governed by the Mega Project Law.

http://www.syrahresources.com.au/si...SX Announcements/20121010 Syrah Resources.pdf