Like @moloch and @redgum, I find it hard to see any comfort for...

Like @moloch and @redgum, I find it hard to see any comfort for shorters in this CR. The total number of new shares, in the issue and the placement, is about 32m, and it looks likely that many of these will go into safe hands. Short-sold shares currently total something over 50m, so there will be a big gap remaining.

The other group who may become a little apprehensive over this announcement are the holders of graphite companies yet to obtain financing for their mine development. From what has been said before, it's clear that the preferred option for Syrah for the BAM development was debt financing. Yet, even with a major mine, on the brink of very large-scale production, they could not get the money on acceptable terms. It looks as if Syrah is going to have the field pretty much to themselves for some time to come. That would provide an excellent window of opportunity to establish the BAM operation, with all its associated higher returns per tonne of graphite.

Cheers,

Prime1