SYR - Syrah Resources

[finicky]

The graphite lesson… expect more critical metal shortages

Former geologist, James Cooper, warned investors ahead of China's shock announcement of export restrictions on graphite... So what's next?

www.livewiremarkets.com

 

[Dona Ferentes]

Syrah's vision is to be the world's supplier of superior quality graphite and battery anode products

Markets don't work like that. SYR have a big deposit, and economies of scale, but are not the only one.

 

[Dona Ferentes]

Vidalia start of AAM production update.

Syrah expects AAM production at Vidalia to start by the end of January 2024. Commissioning processes are well advanced or complete across all parts of the facility, including the key milling, purification and furnaces process areas and equipment, with extensive involvement from Syrah’s operations team as each area of the plant has been handed over.

Syrah has produced unpurified spherical graphite from the front-end milling area since October 2023 to build inventory of precursor value-added material in preparation for the purification and furnace areas becoming operational.

However, commissioning of the purification area, including the introduction of reagents into the circuit, is delayed due to optimization activities associated with the press filtration system and unusual below freezing temperatures forecast at Vidalia next week.

Syrah’s site team is working intensively with the Company’s vendors to safely complete wet commissioning of the purification area with the forecast improvement in weather at Vidalia after next week. The heating cycle for the first furnace line commenced in early January 2024 to prepare for carbonisation of pitch coated purified spherical graphite with wet commissioning and production of finished AAM product.

The Vidalia operations team is fully staffed with more than 100 employees engaged in the commissioning process and ready to ramp-up operations and production at Vidalia.

A further update on commissioning and start of AAM production at Vidalia will be provided prior to or with Syrah’s December 2023 quarterly report later this month.
.
usually the "However" drags it down, but up 10 per cent as it's manageable and they're getting there.... 58c

 

[mullokintyre]

Vidalia start of AAM production update.

Syrah expects AAM production at Vidalia to start by the end of January 2024. Commissioning processes are well advanced or complete across all parts of the facility, including the key milling, purification and furnaces process areas and equipment, with extensive involvement from Syrah’s operations team as each area of the plant has been handed over.

Syrah has produced unpurified spherical graphite from the front-end milling area since October 2023 to build inventory of precursor value-added material in preparation for the purification and furnace areas becoming operational.

However, commissioning of the purification area, including the introduction of reagents into the circuit, is delayed due to optimization activities associated with the press filtration system and unusual below freezing temperatures forecast at Vidalia next week.

Syrah’s site team is working intensively with the Company’s vendors to safely complete wet commissioning of the purification area with the forecast improvement in weather at Vidalia after next week. The heating cycle for the first furnace line commenced in early January 2024 to prepare for carbonisation of pitch coated purified spherical graphite with wet commissioning and production of finished AAM product.

The Vidalia operations team is fully staffed with more than 100 employees engaged in the commissioning process and ready to ramp-up operations and production at Vidalia.

A further update on commissioning and start of AAM production at Vidalia will be provided prior to or with Syrah’s December 2023 quarterly report later this month.
.
usually the "However" drags it down, but up 10 per cent as it's manageable and they're getting there.... 58c

So do we buy in or not??
Already lost money on SYR in the past, don't wish to repeat the exercise.
Mick

 

[Dona Ferentes]

So do we buy in or not??
Already lost money on SYR in the past, don't wish to repeat the exercise.

Not for me ... a price taker, with uncertain demand. And QC issues mean constant monitoring of product. Woe if the offering slips in quality.

 

[Dona Ferentes]

Vidalia start of AAM production update.

they've got there. ... 54c
.
Syrah commences AAM production at Vidalia, USA

Highlights
• Syrah commences Active Anode Material production at its 11.25ktpa Vidalia facility in Louisiana, USA
• Vidalia is the first vertically integrated natural graphite AAM supplier outside China, processing natural graphite from Syrah’s Balama Graphite Operation in Mozambique
• Natural graphite is a critical mineral due to its use in the lithium-ion battery supply chain
• Syrah will supply 8kpta AAM from Vidalia to Tesla under the existing offtake agreement, subject to production ramp-up and finalising qualification
• Syrah is progressing expansion of Vidalia to 45ktpa AAM capacity, inclusive of 11.25ktpa AAM to readiness for a final investment decision
• US Department of Energy is undertaking due diligence for an additional ATVM loan for the Vidalia’s further expansion.

 

[Dona Ferentes]

trading halt .. entitlement offer in works.

70c

 

[qldfrog]

trading halt .. entitlement offer in works.

70c

I thought they were going to boom today by mis-association with Chinese wine tariff removal talks

 

[Dona Ferentes]

major shareholder AusSuper getting nervous at the serial demand for capital.

now $0.555

SYR announces the successful completion of its fully underwritten institutional placement and the accelerated institutional component of its 1 for 10.2 pro rata accelerated non-renounceable entitlement offer ... announced on Wednesday, 13 March 2024.

The Placement and the Institutional Entitlement Offer attracted strong support from both existing and new institutionalshareholders, together raising approximately A$80 million (US$53 million) at a fixed price of A$0.55 per New Share. The retail component of the Entitlement Offer is expected to raise approximately
A$18 million (US$12 million).

The Placement was supported by both existing shareholders and new investors. Approximately 85% of entitlements available to eligible institutional shareholders in the Institutional Entitlement Offer were taken up. New Shares not taken up
by both eligible institutional shareholders and ineligible institutional shareholders have been fully allocated to existing Syrah shareholders and new investors.

 

[Sean K]

All happening in graphite this morning.

 

[Sean K]

This is Africa....

 

[Dona Ferentes]

from AFR

AustralianSuper-backed graphite producer Syrah Resources is in crisis talks with US government agencies after civil unrest near its Mozambique mine halted production and triggered default clauses on crucial US government loans

 

[Sean K]

I'm not sure if this is good news, but it sounds like a decent amount of money that they'll save. The good old IRA coming to the rescue.

Hopefully the IRA gives $165m to other graphite plays like KNG.

 

[frugal.rock]

I'm not sure if this is good news

The figure (in AUD) is more than their MC ?
One might think it will shoot up 100% today...

 

[frugal.rock]

Syrah was/is 4th highest shorted stock at 12.86% on Shortman.com.au
I'm wondering if that is currently being unwound, supply has now turned out in fashion and volume.
Will be interesting to watch this unfold today.

Not hard cold cash...but;

"Under the IRA, the 48C Tax Credit can be monetised for cash through its transfer, in part or whole, to a third-party US federal taxpayer"

A modest but unusual bit of purchasing late on Friday afternoon I see.

 

[frugal.rock]

One might think it will shoot up 100% today...

What eedjut said that?
Retraced and settled.
At best it may have been up 16%?
Go figure.

 

[mullokintyre]

What eedjut said that?
Retraced and settled.
At best it may have been up 16%?
Go figure.

View attachment 191076

the shorters have been squeezed and punished.
back to normal now.
Mick