Aussuper support

Australia's biggest superannuation fund says the investment thesis that attracted it to Australia's most shorted stock remains intact, in a major vote of confidence for struggling graphite producer Syrah Resources.Syrah shares have fallen by 94 per cent since June 2016 and its ability to outlast rival graphite producers through this year's downturn is largely due to support from AustralianSuper, which owns 16.5 per cent of the company and has acted as its underwriter and lender.A severe slump in graphite prices forced Syrah to dramatically scale back production at its Balama mine in Mozambique in October, but AustralianSuper portfolio manager Luke Smith said he still believed Balama would be among the world's biggest, best and lowest-cost graphite mines.''It is very much the philosophy we take in our junior mining investments, we invest and support with new capital should the investment thesis be intact, and we continue to see the [Balama] asset as being a very strategic asset. It is a world class resource, it is a world class facility they have now built at Balama,'' he told The Australian Financial Review.''When it is at nameplate capacity it will be the most globally competitive graphite producer and therefore, over time, as the market starts to shift with electric vehicles, it will be a very strategic asset which we can see can have sustainable cash flow over a very long period.

https://www.copyright link/companies/mining/australiansuper-stares-down-shorts-on-syrah-20191126-p53ed4

I bought a tiny bit again in the last few days.