Syrah Resources Ltd Weakness in sentiment

Weakness in sentiment: Syrah Resources Ltd (ASX: SYR) stock price fell over 4.8% on May 15, 2017 mostly at the back of rising short interest in the shares in past one week. On the other hand, as per the March quarter updates, the completion of construction and the commencement of commissioning of the Balama Project has been stated to run concurrently through the end of Q2 2017 and start of Q3 2017. The Balama construction and operations teams are working to coordinate the transition from commissioning commencement in May, to targeted first production in August 2017. Moreover, in preparation for the launch of commercial production, a coordinated program of market analysis, market segmentation and product placement, customer engagement and negotiation, and integrated sales and operations planning has been underway. Additionally, during 2017, the key actions are underway to further develop and progress the Battery Anode Material (BAM) strategy. This includes the completion of the downstream Qualification Plant in Louisiana for production by Q1 2018, and the completion of the BAM feasibility study for the Commercial Plant in Louisiana, targeting commercial production from Q4, 2018. In addition, SYR’s financial objectives include the maintenance of a strong balance sheet position under a wide range of scenarios.   


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