Syrah will be taken over - that will be the boards strategy. They are burning through cash and the longer it stays idle, the more expensive it is to bring the plant back up and running.
I reckon that come nide January 2021, takeovers will start coming. The board by then will be running down the cash (then will be less than US$40 million).
it is very risky to recommence production without an offtake agreement and for a guaranteed price. And given the board has failed to get recoveries to its target of 80% or get the flake proportion of tonnes per quarter up to 20% let alone their hoped for 30%, one would not be optimistic they will ever.
Nope - this will be out up for sale. And most disgraceful of all is that Mr Verner was awarded 4 million stock options less than 6 months ago, but at a strike price of only 43 cents per share. Disgrace. If ever there is a case for amending the law that such a low strike price on these options can be allowed, this is surely it. Let's hope if it does happen that they get over $1.00 for it.
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Syrah will be taken over - that will be the boards strategy....
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34.5¢ |
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Mkt cap ! $357.0M |
Open | High | Low | Value | Volume |
36.0¢ | 36.8¢ | 34.5¢ | $2.576M | 7.326M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 393935 | 34.5¢ |
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Price($) | Vol. | No. |
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35.0¢ | 100404 | 3 |
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No. | Vol. | Price($) |
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13 | 393935 | 0.345 |
15 | 521858 | 0.340 |
8 | 774294 | 0.335 |
11 | 923833 | 0.330 |
4 | 515110 | 0.325 |
Price($) | Vol. | No. |
---|---|---|
0.350 | 100404 | 3 |
0.355 | 162428 | 4 |
0.360 | 279776 | 6 |
0.365 | 159200 | 3 |
0.370 | 125200 | 6 |
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