One stock going up – Syrah Resources Ltd

Continues to maintain strong momentum: Syrah Resources Ltd.’s (ASX: SYR) Balama project commissioning activity has commenced in May-2017 with first production scheduled for August 2017. The production ramp-up is currently expected to be 140,000 to 160,000 tons of flake graphite concentrate in the first year of production, and 250,000 to 300,000 tons in the second year. Further, comprehensive logistics contract (mine to port) has been signed with Grindrod, while Mining Agreement is being progressed through the Mozambican government. During the quarter, multiple sales initiatives have been progressed including Memorandum of Understanding (MOU) with BTR New Energy Materials, the world’s largest battery anode manufacturer, and finalization of a Statement of Sales Intent (SSI) with a European trader consortium for 15,000 to 25,000 tons per annum of flake graphite for 5 years. Moreover, the company has received a proposal for US$50m in debt funding.   

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