Syrah Resources announced a fully underwritten accelerated renounceable pro-rata entitlement offer of 4 new shares for every 19 existing shares at an offer price of $3.25 per new share to raise approximately $113 million together with a placement offer to institutional investors for new ordinary shares at $3.25 per share to raise approximately $98 million (Placement). The Entitlement Offer has the following two [...]
Syrah Resources are pleased to provide a company presentation regarding Syrah's equity capital raising. Investment Highlights: Exposure to world class Balama Graphite Project - 2015 Feasibility Study completed by Snowden Mining Consultants Pty Ltd ("Snowden") confirms the potential of the Balama Graphite Project:(1) * High grade and low strip ratio, with an estimated IRR of 71% and an estimated post-tax NPV10 of US$1.1bn [...]
Syrah Resources today announced a capital raising of approximately A$211 million by way of an institutional placement (Placement) and a pro rata accelerated renounceable entitlement offer (Entitlement Offer). Both the Placement and the Entitlement Offer (together, the Capital Raising) are fully underwritten. Use of proceeds The proceeds of the Capital Raising will predominantly be used to fund the development of the [...]
During the quarter, Syrah Resources (ASX:SYR) successfully finalised the Feasibility Study and received key regulatory approvals for its graphite project in Mozambique (Balama Project). These achievements represent significant milestones in Syrah's progression to becoming one of the leading suppliers of high quality graphite to key industrial and technology markets. Highlights: - Balama Graphite Project Feasibility [...]
Syrah Resources is pleased to announce that it has received its Land Access (DUAT) License for the Balama Graphite Project from the Ministry of Land, Environment and Rural Development (MITADER). Highlights: - Land Access (DUAT) License approved by Mozambican Government - All key approvals have now been received for the Balama Graphite Project including: * Mining Concession granted in December 2013 for a period of 25 [...]
Syrah Resources is pleased to report the results of an Internal Economic Assessment (IEA) for a proposed coated spherical graphite facility in the United States. This IEA has been prepared with the assistance of China Aluminium International Engineering and a leading producer of coated spherical graphite. Managing Director, Tolga Kumova commented "The decision to incorporate spherical graphite production into the overall [...]
Syrah Resources (Syrah) (ASX:SYR) is pleased to report the results of an Internal Economic Assessment (IEA) on the world’s largest Coated Spherical Graphite Facility in the United States. This IEA has been prepared with the assistance of China Aluminium International Engineering Corporation Limited (Chalieco) and a leading producer of coated spherical graphite. Feedback from samples sent to major electric vehicle [...]
Syrah Resources (Syrah) is pleased to report the results of its Feasibility Study prepared by Snowden Mining Industry Consultants for its 100% owned Balama Graphite Project (Balama) in Mozambique. The Feasibility Study confirms Balama as a project with low capital intensity, low technical risk and attractive returns. Initial capital expenditure will be US$138 million, with a payback period of less than 2 years from [...]
Syrah Resources (Syrah) is pleased to announce that it has secured a three year Binding Offtake Agreement with China Aluminium International Engineering Corporation Limited (Chalieco). Chalieco is an affiliate company of Aluminum Corporation of China Limited (Chinalco), the world’s second largest alumina producer, the third largest primary aluminium provider and the fifth largest fabricated aluminium producer. Chalieco [...]
During Q4 2014, Syrah Resources (Syrah) (ASX:SYR) successfully produced uncoated battery grade spherical graphite, using natural flake graphite from its Balama Graphite & Vanadium Project in Mozambique. Samples have been distributed and initial feedback from Japanese anode and battery producers indicate that uncoated Balama spherical graphite is of a superior quality than those currently being utilized. Uncoated [...]
Syrah Resources is very pleased to advise that the Mozambique Government has granted a 25-year mining license for the Balama Graphite and Vanadium Project. Under Mozambique law an extension of the Mining License for a further 25 years is available. The Mining License covers both graphite and vanadium. The Mining License application was submitted on July 8, 2013 and the license granted in about 5 months. There are very few [...]
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