SYR
Click for more information
6.90% 27.0¢ syrah resources limited

Outside of South Australia, Syrah Resources is mining graphite...

  1. Normandy7
    1,860 Posts.
    lightbulb Created with Sketch. 275
    clock Created with Sketch.
    24/03/24
    20:37
    Post #: 73034443

    Outside of South Australia, Syrah Resources is mining graphite at its large Balama deposit in Mozambique and recently started production at its Vidalia active anode material (AAM) facility in the US, where it produces materials to feed into the battery and automotive industries.

    Syrah is aiming to quadruple the size of the Vidalia operations, and recently sought to raise $98m through the issue of new shares at 55c, with AustralianSuper committing to take up its portion of the raise.

    Syrah said in its capital raise presentation that since December, Chinese and global trade in graphite and anode products had dropped to the “lowest monthly levels in recent years with uncertainty over the Chinese government intent, and lack of clarity on process implementation”.

    “Limited export licences were granted for December 2023 shipments by significant AAM and anode precursor suppliers exporting to certain countries including South Korea, but not US, Japan and most European countries,’’ Syrah said.

    “Chinese customers have tempered orders of imported natural graphite, including from Syrah, while awaiting progress on licences to export spherical graphite and anode material products from China to ex-China markets.

    “Syrah expects Chinese exports of these products to be constrained in the March 2024 quarter and to increase from the start of the June 2024 quarter, assuming granting of licences increases.’’

    Syrah told the ASX recently it had raised $80m through the institutional proportion of its raise while the retail offer remains open.

    Shaw & Partners has a $1.30 price target on Syrah, compared with the current price of 52c, and says an offtake agreement signed with Korea’s POSCO is a meaningful step towards diversifying away from China.

    “Syrah continues to assess seven additional ex-China agreements for AAM facilities in various stages of progress in the US, Canada, South Korea, Europe, South East Asia, and India,’’ Shaw told its clients in a research note.

    “A spot contract for trial shipment for an AAM facility in Indonesia has also been concluded, which is expected to commence operations in 2024.’’

    https://www.theaustralian.com.au/business/renewable-energy-economy/the-worlds-big-problem-with-graphite-presents-opportunities-for-australia/news-story/838eb59cab571bed9e93c60f1c3e71d7

    here is the part on Syrah which we here all
    know (or at least should if holders)

    SYR Price at posting: 52.0¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 10  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply

  2. Top Stories

 

Featured News

RCE Phase II clinical trial recruitment for R327G topical gel passes halfway, showing promising results against bacterial skin infections
right-arrow Created with Sketch.
NEWS Strong in-fill drill results at Theia deposit bolster plans for resource upgrade, advancing Mandilla's growth potential
right-arrow Created with Sketch.
NEWS Exceptional niobium intercepts confirmed at Stinger Discovery – dive into the latest assays
right-arrow Created with Sketch.
NEWS Drilling begins at Rafael Shallow 1, marking a key step forward for the joint venture in the Canning Basin
right-arrow Created with Sketch.
MTL RC Drilling has commenced at Roberts Hill and Mt Berghaus
right-arrow Created with Sketch.
NEWS Gold nuggets unearthed at Comet Well ahead of drilling! Discoveries continue as exploration ramps up
right-arrow Created with Sketch.
watchlist Created with Sketch. Add SYR (ASX) to my watchlist
(20min delay)
Last
27.0¢ 		Change
-0.020(6.90%) 		Mkt cap ! $279.4M
Open High Low Value Volume
28.5¢ 29.0¢ 27.0¢ $1.275M 4.612M

Buyers (Bids)

No. Vol. Price($)
4 45427 27.0¢
 

Sellers (Offers)

Price($) Vol. No.
27.5¢ 43098 3
View Market Depth
Last trade - 16.10pm 09/10/2024 (20 minute delay) ?
SYR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.