After reading SYR Quarterly report again I notice they are...

After reading SYR Quarterly report again I notice they are trying to spin of the graphite project that is next to DAF, this could be a great thing as I think Jacana Minerals could be an ideal Farm in partner as they have 8 million in cash to drill and test the area, why not take say 30% or maybe higher and help DAF find the graphite while taking the profit in the long term.

We need to get the samples back and then in the next month or so we could be actually diamond drilling. I am not sure what I would prefer raise capital and dilute the registry or give away a % of the project if they can drill it for us.



Syrah Resources advised that as previously reported, the company has been investigating ways to add shareholder value by a JV, selling or spinning off its Tanzanian exploration properties. This includes the mineral sand assets (North Tanga, South Tanga, Bagamoyo and Fungoni), the Mbinga nickel project, the Nachingwea graphite prospect and coal prospectivity at Shikula. The company now plans to hold an EGM in August 2014 to request shareholder approval to demerge the assets through a distribution to shareholders. This will be followed as quickly as possible by seeking a listing on the ASX through an initial public offering with a priority period for existing Syrah shareholders. The expected value of the new company, Jacana Minerals, at listing is expected to be less than $20m after a proposed raising of about $8m. Further details regarding the proposed transaction will be released at a later date.