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Syrah Resources Limited (ASX:SYR)

ALERT: Price-sensitive ASX Announcement for SYR
Current share price for SYR : $0.120 0.01 (9.09%)+
Announcement
Release
29 Apr 2026 8:34AM
Price at Release
$0.110
Full Release
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Summary
In the March 2026 quarterly report, Syrah Resources Limited focused on operational and financial highlights, including a total natural graphite production of 24kt at Balama with significant quality recoveries. The company signed a multi-year offtake agreement with NextSource for Balama graphite and continued AAM production at Vidalia for customer qualification. Despite a net cash outflow of US$26.53 million from operating activities, Syrah raised US$72 million through equity to support operations at Balama and Vidalia. Strategic funding proposals were received from the DFC, DOE, and AustralianSuper to enhance liquidity and balance sheet strength. The US DOE loan for Vidalia and DFC loan for Balama were highlighted, with Syrah working on addressing loan defaults due to operational interruptions.
Key Points
  • Syrah Resources Limited's graphite production at Balama reached 24kt with high quality.
  • A multi-year offtake agreement was signed with NextSource.
  • AAM production at Vidalia focused on customer qualification.
  • A net cash outflow of US$26.53 million was reported from operating activities.
  • US$72 million was raised through equity for operational support.
  • Strategic funding proposals received from DFC, DOE, and AustralianSuper.
  • The US DOE loan for Vidalia and DFC loan for Balama were discussed.
  • Efforts to resolve loan defaults due to operational interruptions were ongoing.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.