Company News Summary
Syrah Resources Provides Downstream Strategy Update
Original announcement: Syrah announces Downstream Strategy Update
Syrah Resources provided the update on the Company's downstream strategy. The Company will pursue a multi-channel sales strategy with a presence in flake and battery anode material markets. Balama scheduled for commissioning in Q2 2017, production ramp up in Q3 2017. The Company announced that Commercial discussions with customers underway regarding sales into the spherical graphite and by-product markets for Balama -100 mesh graphite prior to production commencement at the Commercial Plant. The Company reported that US$30m will fund working capital requirements for the Balama Project through to positive cash flows across a range of reasonable assumptions. Cash reserves of US$35m to fund progression of the Group's General Corporate and BAM.
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