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SYR, SYRAH RESOURCES LIMITED
blacksheep
post Posted: Dec 7 2018, 10:13 AM
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Posts: 5,074
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SYR "advises of the resignation of Non-Executive Director Stefano Giorgini, for personal reasons, with immediate effect."

Stefano Giorgini was appointed 16 October 2017 and bought deep executive experience in particular in finance, risk management and governance to the SYR Board, according to the ann. Important areas for any company - hopefully SYR will find a suitable replacement quickly

BTW - SYR has to be close to declaring commercial production, now that their production issues have been sorted



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 3 2018, 09:47 AM
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SP up 6.44% this morning following their "production improvement" ann.

Odd comment - Actions continue in the supply chain to reduce inventory levels, in particular at Port of Nacala - you would have thought inventory levels at Nacala would be low following the previous production problems - they were drawing on inventory to supply customers during down time, as per ann - "The overall sales impact will be minimised through the drawdown of existing inventory"

QUOTE
Syrah Resources Limited (ASX: SYR) (“Syrah” or “Company”) is pleased to advise that the production
improvement plan for the Balama Graphite Operation is delivering strong results. Significant improvement
in graphite recoveries and consistently high product quality have been achieved, post the resumption of
production (refer to ASX announcement 8 November 2018). These outcomes provide confidence for
ongoing production performance.

• Achieved average graphite recoveries of 74% in November versus 53% in Q3 2018 and 54% in
September

• Continuing high grade consistency, with average fixed carbon content in November > 95%

• Achieved targeted 98% fixed carbon production in coarse flake (refer to ASX announcement 12
November 2018)

• On track to achieve full year 2018 production target of 101kt – 106kt of graphite concentrate

Actions continue in the supply chain to reduce inventory levels, in particular at Port of Nacala




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 28 2018, 03:09 PM
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Posts: 5,074
Thanks: 2039


In Reply To: blacksheep's post @ Nov 27 2018, 09:45 PM

Another attack, this time a bit too close for comfort...Mozambique: Truck ambushed near Cabo Delgado/Niassa boundary...previous attacks have been along the coast north of Pemba

QUOTE
A guard who worked at the palace of the governor of the northern province of Niassa, Francisca Tomas, died on Friday night in an ambush by armed men against a truck near the Ruaça river, on the border between Niassa and the neighbouring province of Cabo Delgado, according to a report in Tuesday’s issue of the independent newssheet “Carta de Mocambique”.

The paper’s sources link the attack to the islamist insurgency under way in parts of Cabo Delgado since October 2017. If this connection is true, then this is the furthest west the terrorists have struck.

The truck was carrying merchandise from Niassa to the port of Pemba, on the Cabo Delgado coast. The vehicle was hit after it had crossed the river and was heading towards the town of Balama.


https://clubofmozambique.com/news/mozambiqu...iassa-boundary/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 27 2018, 09:45 PM
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Posts: 5,074
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In Reply To: blacksheep's post @ Nov 27 2018, 01:39 PM

AFR carried this today

QUOTE
Syrah Resources shares fell 5.6 per cent to $1.60. A terrorist attack in the Cabo Delgado province in Mozambique, where Syrah's Balama Graphite Project is located, killed 12 people. It is the fourth attack in the province since the beginning of November.

The company has previously moved to allay investor concerns that attacks in the region have had any disruption on production.

https://www.afr.com/markets/financials-lift...20181126-h18dw5

The latest attack
https://clubofmozambique.com/news/twelve-pe...chicuaia-velha/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 27 2018, 08:54 PM
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Not sure if the 2 licences - 5684 and 6174 - are being "used" by SYR or may be impacted by this - "The provincial government of Cabo Delgado, northern Mozambique, wants the licenses issued for mining prospecting and research that are not being used to be revoked, the provincial governor said, quoted by daily newspaper Noticias." https://clubofmozambique.com/news/governmen...cting-licenses/


QUOTE
TENEMENT SCHEDULE AS AT 21 MARCH 2018
PROJECT LICENSE NUMBER LICENSE TYPE COUNTRY INTEREST OWNED
Balama 6432C Mining Concession Mozambique 100%
Balama(1) 5684L Exploration Mozambique 100%
Balama(1) 6174L Exploration Mozambique 100%

(1) Syrah has entered into a Tenement Sale Agreement (TSA) for the acquisition of a tenement (Tenement) in Balama currently held on trust by a third party (Seller). Under the
TSA, Syrah may be required to issue to the Seller, as part of the contingent consideration for the acquisition of the Tenement, up to US$2.0 million of fully paid ordinary shares
(Sale Shares) in various tranches, with the number of Sale Shares under each tranche to be calculated based on the 30 day volume weighted average price of Syrah shares
prior to the issue date
. The Sale Shares (if issued) will rank equally with Syrah’s existing shares, and will not be issued to an existing class of security holders in Syrah. It is
not expected that security holder approval will be required for the issue of Sale Shares. Due to an administrative decision to use district boundaries to define mineral titles,
Exploration Licence 5684L was split into two, with one half retaining the original licence number and the other half being designated Exploration Licence 6174L. There was no
change to the total value of the contingent consideration because of this administrative decision
.


According to the moz mining portal
5684L is in the name of SYR's Twigg Exploration e Mining Lda - granted March 2013, expires 2020
But 6174L is in the name of Escola de Condução ABC, Limitada - granted Nov 2016, expires 2021 - the people behind this company are listed on this document - http://ancir.github.io/mozambique/bigshots/ - as

Dulá Sansum Abdul Magide 32
Alírio Silva Maposse 31
Abu Nasmodine Mohamade Imael Taju 31
José Leonardo Xavier Mbanze 31
Dulce Esperança Afonso 31
Tomás Nguenha 31
Domingos João Langa 31





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 27 2018, 01:39 PM
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SP down currently 8.28% @ $1.55 - 3.7 mil shares traded.

Market is up, so what's going on with SYR?
https://www.shortman.com.au/stock?q=SYR



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Nov 20 2018, 12:40 PM
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Posts: 5,074
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In Reply To: blacksheep's post @ Nov 17 2018, 12:40 PM

Shaun Verner, managing director and CEO of Syrah Resources, talks about the state of the graphite market, future supply and more in this Benchmark Minerals Week interview.
https://investingnews.com/daily/resource-in...-driven-demand/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 17 2018, 12:40 PM
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Posts: 5,074
Thanks: 2039


Graphite: Syrah Resources completes repairs and signs offtake agreements for 2019

QUOTE
Syrah Resources reports successful installation and commissioning of a replacement reclassifier unit at its Balama operation in Mozambique and restart of production following a fire last month.

On 7th November, the company announced a binding offtake agreement with Qingdao Taida-Huarun New Energy Technology to supply 20ktpy of natural flake graphite from September next year. Then, on the 12th, it announced a binding sales agreement with Qingdao Freyr Graphite for 6ktpy of large flake graphite for 12 months. Taida manufactures a range of carbon products for use in lithium-ion graphite battery anodes, including spherical graphite (produced typically from small and medium sized flake). Freyr is a manufacturer of expandable graphite (produced from large size flake).

Syrah has also reported successful production of 98% FC graphite this month, across all flake sizes using standard flotation processes; it has made its first 98% FC spot market sale to a Japanese customer. Throughout 2018, Syrah has supplied flake graphite to Shenzhen BTR New Energy Materials (BTR) for the manufacture of spherical graphite. BTR of China, is the world’s largest manufacturer of lithium-ion battery anode materials. Syrah signed a deal with BTR in September 2017 for 30kt during the first year of production, however, the year one production milestone will be reached this month and the future of Syrah’s relationship with BTR is still unclear. Syrah has also previously signed agreements with other Chinese companies, including 20kt with Zhanjiang Juxi New Energy Materials.

In the long-term, Syrah plans to produce its own spherical graphite from Balama material and is planning to construct a spherical graphite plant in Louisiana, USA. It plans to produce spherical graphite purified to over 99.95%C and to coat its spherical graphite using proprietary technology. In mid-2018, however, Syrah hinted that investment in construction of the plant may be pushed back till after cash flow becomes positive. Syrah had previously announced an aim to become cash flow positive by late-2018 and to bring operating costs (FOB Port of Nacala, excluding government royalties and taxes) down to below US$400/t in 2019. It is not clear if, or how, the October fire has affected these aims; production has been pushed back as a result of the fire with an estimated loss of around 30kt for Q4.

Roskill view

Production estimates for Syrah’s full-year 2018 are now just over 100kt, far lower than the company’s original targets of 160-180ktpy. Even this lower production level, however, is equivalent to 14% of Roskill’s 2018 natural flake graphite demand estimate and this sudden surge of extra supply has had a negative effect on prices. The combination of Chinese plants re-opening and the ramp-up of new rest-of-world supply has resulted in decreasing flake graphite prices throughout Q3 and into Q4.

The jury is still out on how the market could change in 2019. Will Syrah Resources improve processing yields to meet its preliminary targets of 250-300kt for the year? Even if Syrah doesn’t reach this target, it seems likely that flake graphite prices could weaken further, as a huge new influx of supply is unlikely to be balanced by even the most burgeoning demand growth.

https://roskill.com/news/graphite-syrah-res...ments-for-2019/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 15 2018, 06:11 PM
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Roller coaster ride for the SP today - one minute down over 8% then afternoon trading pushed it back up finishing the day down just over 5% @ $1.695 - days range $1.622 - $1.79 - volume 4.2 mil

Short positions @ 9/11/2018 = 16.55%
https://www.shortman.com.au/stock?q=syr

Perhaps UBS short target reached and is now buying rolleyes.gif

Not able to upload a chart



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 13 2018, 10:21 AM
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Posts: 5,074
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In Reply To: blacksheep's post @ Nov 11 2018, 02:45 PM

Binding term sales agreement with Qingdao Freyr Graphite Co., Ltd - a manufacturer of expandable graphite - announced yesterday for 6kt coarse (large) flake natural graphite from Balama over 12 months.

Shaun Verner brief interview - https://www.cnbc.com/video/2018/11/12/syrah...-will-grow.html

Article appearing in The Bayou Brief yesterday - Why Worry? It’s 25 New Jobs!
extract
QUOTE
Syrah Resources considered two other Louisiana locations for its plant before settling on Vidalia

A new industry is coming to Vidalia in Concordia Parish – graphite processing.

Australia-based Syrah Resources selected the port site across the Mississippi River from Natchez for the first-ever U.S.-based plant to turn naturally occurring flake graphite from mines in Mozambique into the spherical form in high demand for electrodes in lithium-ion batteries, which power our cell phones, laptops, and electric vehicles.

It means 25 new full-time jobs, at an average salary of $60,000 per year, in the fifth-poorest parish in the state.

That’s the sanitized version, as touted by the state Department of Economic Development this past April 30, when they announced the project .

The reality is far less clean.

This is the third announced location Syrah Resources has considered for a Louisiana plant within the past three years.


read more - https://www.bayoubrief.com/2018/11/12/why-w...ts-25-new-jobs/

https://www.shortman.com.au/stock?q=SYR





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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