Syrah with BHP Billiton Management

Congratulations to Shaun Verner on becoming Syrah's new CEO and to Robert Schaefer on becoming the CCO.

They worked together in Singapore for BHP Billiton with Shaun building experience in: metallurgical coal, thermal coal, copper, lead, zinc, gold, silver, uranium, sulphuric acid, freight (Cape, Panamax & Handy), marketing, trading, off-take development, price risk exposure, credit risk management, supply chain management, back-office commercial coordination, systems coordination, and project management.

Robert notably built experience in: volume expansion at several mines, and notably was a General Manager at BHP for sales and marketing of copper and uranium.

Today's announcement hasn't sent the shorts fleeing but in my personal opinion, we are now akin to a BHP subsidiary in function. If BHP owned Syrah Resources, Shaun and Rob would be running it. I'm not implying that BHP will buy Syrah, I'm thinking that we are fortunate to have such professional experience at the helm. The know how to do all the things we need: (1) Generate sales, (2) Find optimal shipping solutions, and (3) Expand output particularly in vanadium and spherical.

Shaun has lived commodity strategy, sales and management for the last two decades and this is the role that he has been preparing for, for the last two decades. No-one disputes that Syrah will be the low-cost producer in graphite but many people question whether we can sell all that graphite. Shaun and Rob are the right team members to take Syrah to the next level, to sell more product, and to eliminate the competition. I'm very positive about Syrah's long term future.