Is Syrah Resources Ltd regaining its lustre?
Syrah Resources Ltd’s (ASX: SYR) stock surged 5.77% on March 24, 2017 post the release of its 2016 annual report and Balama Project updates, and overall improving sentiments.
Balama Project Updates: SYR has highlighted good progress with development and construction activities as the process plant construction has been 52% complete as at 31 December 2016. The group had indicated for commissioning to commence during Q2 2017 while production ramp-up has been indicated for Q3 2017. SYR had reported for achieving Total Graphitic Carbon (TGC) grades of up to 98% across all flake sizes during the year. There also has been a 40% rise in proven and probable reserves to 114.5 Mt at 16.6% TGC with regards to the ore reserve upgrade for the Mualia Zone.
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