One has to remember that most of those Brokers are of course substantial shareholders in SYR, so one would expect them to present a rosy picture - at least until they are no longer holding.
It was a "stinker" of an announcement by the Company, that left many guessing. If SYR don't have a good PR company to help them write these reports, one who can identify "issues" in a report that could be interpreted wrongly by the market, then they should really get one pronto.
A subsequent announcement mentioned he instigated a discussion with the board on his future as managing director a month/weeks ago. The fact a new employment contract was signed with him in January 2016, probably further exacerbated the perception something was wrong, along with the "effective immediately" message. Also, one wonders who was aware of this a month/weeks ago? The number of short positions rose substantially during the last few weeks, so someone probably has made a killing. Change in substantial notices may reveal, then again it may not be the usual players.
"SYR is on verge of something massive (or nothing at all) within the next year, so we ought to stay closely tuned."
Yes, it's a 50:50 bet, IMO. I sincerely hope they do, but I too have similar reservations to Ben Kramer Miller, who has written a number of pieces on most of the north American graphite companies, and also some of the ASX. He wrote these comments below the other day in response to an article written that suggests SYR and Elcora were the two best picks in the LIB graphite race...
"With Syrah the supply problem is horrific. The idea that a company is going to produce 75% of global supply and be able to sell it is ludicrous. In May, 2015 I argued that this is a short, and despite the fact that they’ve gotten financing I maintain my position that they will not be able to sell enough graphite at a high enough price to support such a mammoth operation. The abrupt departure of the MD doesn’t help things along either. Finally, read the language in these offtake agreements closely, there is really nothing binding."
