SYR - Syrah Resources

[rederob]

Heading to around 50cents - should bounce off that.
True dog to those who put in to last year's capital raising.

 

[greggles]

I just posted about SYR in The bottom is in! thread but thought I should also post in the SYR thread.

It appears to be all good news from SYR's Balama Graphite Operation with Q1 production at the upper end of, or exceeding, previous guidance. Cash at bank is healthier than expected too.

$1.50 looks like resistance and that should be SYR's next challenge.

 

[rederob]

Maybe I win the April tipping comp - lol - as this stock was my tip.
I actually chose it in case there was good news, and as luck would have it.....

 

[Naoseinada]

Hopefully not a dopey questions but nevertheless; is there a way to trade call options on Syrah without them being a company on the ASX for which options are offered?

 

[Joules MM1]

todays sub holder release has retail fired up, reflected in the short term 21 Twiggs Money Flow but the 13week money flow (that matters, trend-wise) is sub zero, there are not indicia on accumulation side that suggest anyones chasing supply, price structure lacks impulsive lift, if anything, more of the same sell-side in structure, currently better as a volume intraday play than a BAH play

 

[Joules MM1]

and a chart with shtuff innitt
a follow-thru on todays retail chase would not suprise but the underlying money/trend makers needs to chase .....there is now a technical bid que there as the jan2018 downline is now broken so a lot of conjective ideas exist in this

 

[Joules MM1]

.. chatty v observational ?

the big gap sitting at 18th may 2012 got closed
13 week Twiggs Money Flow supported yesterdays bar
yesterdays bar followed thru and minor technical break-out of wedge

 

[Joules MM1]

aaand more cvo

 

[Miner]

SYR went into halt and published several pieces of news in one shot.

1. Capital raise to ramp up production - good news
2. Australian Super Fund as a partner (Please also note Aust Super has recently engaged new advisers for their fund management) - good news for SYR holder to learn convertible bond is @8% interest whereas many organisations have gone out at a much higher rate, but may not be a piece of good news for super investors because of the price is only slightly lower than prevailing stock price, reaching the expected price for conversion could be a bit challenging, long waiting time to get ramped up and 8% return - may not enough. It could be more than likely that the market price would go down when it opens. But the $55M investment is a peanut for Australian Super Fund under management.
3. Production is much lower for the quarter - could be a spanner on the wheel as market expectations are getting higher and higher. There are very high shorters for SYR. They may manipulate the market.
4. But sale agreement is very good news depending on strike price under contract https://www.asx.com.au/asxpdf/20190619/pdf/445yk999g2d7qr.pdf
5. https://www.asx.com.au/asxpdf/20190619/pdf/445yqyjtptq80j.pdf
   
6. Yes - disclaimer - a holder

 

[Miner]

SYR is yet to be traded on ASX after the halt.
What is interesting to see this news published :
https://www.asx.com.au/asxpdf/20190620/pdf/445zcfhrfzs1z5.pdf
Becoming a substantial holder just before trading halt raises questions, if they knew it earlier and would take the benefit of the rights.
This morning AFR published a reasonable coverage on SYR and DCN. They also mentioned how Australian Super has been a strong supporter for long time.
If we rely Australian Super and JP Morgan's 'innocent' investment to become a substantial holder, would hopefully a good news for other investors. I do not want to speculate as this is just watch and see but getting some what optimistic now on SYR.

 

[Miner]

https://www.asx.com.au/asxpdf/20190621/pdf/4460cg2fzjrf91.pdf
Details of Rights offer to shareholders with facility for top up. Nice discount @81 cents, from the last traded price of 98 cents and full commitment from Instos.
Lets see how market responds when it comes for trading.
Disclosure : Just entered into the portfolio before trading halt. Would my gamble (sorry fundamental research) will be a winner ???
============
Edited after posting to see market reaction - opened at 88 cents, rose upto 90.5 cents and now around 88 cents. Still good after 11% slump. But market will evolve in few hours and what price it stays is the important for many.
Any comments /education on SYR will be welcomed
https://www.fool.com.au/2019/06/21/why-the-syrah-resources-share-price-crashed-11-lower-today/

 

[Sean K]

Why has this fallen so heavily the past 3 years? $6 to $1? Price of graphite, or was the sector in a bubble?

 

[Miner]

I just posted about SYR in The bottom is in! thread but thought I should also post in the SYR thread.

It appears to be all good news from SYR's Balama Graphite Operation with Q1 production at the upper end of, or exceeding, previous guidance. Cash at bank is healthier than expected too.

$1.50 looks like resistance and that should be SYR's next challenge.

View attachment 93537

View attachment 93538

Now the bottom is 80 cents as XR

 

[Miner]

Why has this fallen so heavily the past 3 years? $6 to $1? Price of graphite, or was the sector in a bubble?

Just a follow on of your posting @kennas - SYR since XR is going down and down. It went below the rights price of 81 cents and just matching the 81 cents some how.
UBS has quitted.
https://www.asx.com.au/asxpdf/20190624/pdf/4461tfkywdhp5n.pdf
What is your and others opinion on this stock and its rights price - is it a right price with too many graphite manufacturers like Lithium bubble is going to vanish?

 

[Sean K]

What is your and others opinion on this stock

I really need to get my head back around the whole market at the moment. Too much time away drinking Martinis.

 

[Joe Blow]

I really need to get my head back around the whole market at the moment. Too much time away drinking Martinis.

Welcome back stranger! I saw you lurking around and wasn't sure if it was just a flying visit to update "The world is on the brink!" thread again, or if you were going to stay awhile...

 

[Miner]

Following SYR movement thinking the company has some serious issues but failing to understand how could smart funders keeping on increasing their stake on SYR. Of course funders are not always smartest otherwise the holders of their stocks could have earned fortune whereas the partners and analysts get fabulous bonuses
https://www.asx.com.au/asxpdf/20190704/pdf/446clq8rnctdhl.pdf
https://www.asx.com.au/asxpdf/20190702/pdf/446b4ffgrsmx9k.pdf
But the question remains, if they are always that stupid to flash out millions on dud shares ?

 

[Smurf1976]

Following SYR movement thinking the company has some serious issues but failing to understand how could smart funders keeping on increasing their stake on SYR.

I have similar thoughts but simply note that these things often, not always but often, do turn out positively.

Plenty of shares being sold and at low prices but someone is buying them up and they must have their reasoning.

 

[barney]

View attachment 95934

Plenty of shares being sold and at low prices but someone is buying them up and they must have their reasoning.

Agree Smurf and Miner. There are several big hitters soaking up large Volume in the constant price drop.

The big fundies are likely thinking well ahead and are probably happy to sit on these for X amount of time while accumulating at the lows.

Current lows should be re tested but maybe the start of a Base … worth keeping an eye on over the next couple of months.

 

[rederob]

Heading to around 50cents - should bounce off that.
True dog to those who put in to last year's capital raising.

I had not realised that was so optimistic.
The dog might turn out to be a dead cat, and any bounce might be worrisome.
Until graphite prices improve SYR is definitely one to avoid.
But if you prefer a punt on Syrah - and enjoy being well into the red - I can thoroughly recommend the Clonakilla Murrumbateman Syrah 2016. (Otherwise a good Shiraz or Hermitage will do - seeing they are the same grape variety.)

On a more serious note, Syrah will release its 2019 Interim Financial Report on 13 September 2019.