Syrah Resources (ASX: SYR) – Balama Graphite Project
ABOUT COMPANY
Syrah Resources (SYR) (https://www.syrahresources.com.au/) is the only operating vertically integrated natural graphite AAM supplier outside of China. It operates the Balama Graphite Project in Mozambique and is building a downstream Active Anode Material (AAM) Facility in the USA.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
US$55m cash is restricted.
$60m Convertible Note with AustralianSuper at an 8% interest rate expiring October 2024.
COMPANY ASSETS
Balama Graphite Project Mozambique
The mine has 20% TGC with about an 80% recovery rate using the conventional method.
The production is restricted due to the Chinese synthetic graphite market penetration.
The company has been building the 11.25ktpa AAM Vidalia facility with US$190m CAPEX and sub 20% IRR. The facility will start production in the December 2023 quarter.
SUMMARY
Its operational loss due to production restrictions needs to be re-checked.