Graphite play Syrah Resources is preparing to ask shareholders for fresh capital to help fund a processing plant in the United States.
It is understood Syrah spent the weekend readying a $250 million equity raising, split between an institutional placement and rights issue, and targeting existing investors.
Syrah Resources has a new offtake agreement to supply product to Tesla. AP
AustralianSuper, already Syrah’s biggest shareholder, was expected to follow its money into the deal.
Sources said the deal could launch as early as Monday morning, subject to final board approval.
A Syrah spokesperson could not be reached for comment late on Sunday night.
Graphite play Syrah Resources is preparing to ask shareholders...
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