Equity Capital Raising Presentation
Melbourne, June 16, 2016 AEST (ABN Newswire) - Syrah Resources Ltd (
ASX:SYR) are pleased to provide the Company's Equity Capital Raising Presentation, June 2016.
Investment highlights
The Balama Graphite Project is a World Class and Globally Strategic Graphite Asset
- The world class Balama Project is a strategic asset that positions Syrah to become a leading supplier of graphite to industrial and high growth, emerging technology markets
-- Significant JORC Compliant (2012) Reserve in place to support over 40 years of mine life at projected mining rates
-- High grade, low strip ratio ore body that can be mined with conventional truck and shovel techniques, resulting in an attractive and competitive operating cost profile
-- Graphite product is suited to high growth, emerging technology market applications
- Significant progress in the development of the Balama Project has materially de-risked the construction of this strategic asset, positioning Syrah to deliver on its advantage as one of the early movers in the sector. Key construction progress to date includes:
-- All long lead time items ordered and deliveries of mechanical equipment and structural steel to site has commenced
-- Process plant and infrastructure concrete works progressing
-- Notice of Award issued for major construction contract (Structural, Mechanical and Piping (SMP)) and various operational contracts (including mining contractor, transport and logistics and fuel supply)
- Project schedule revisited with input from prospective key contractors, with first ore and production ramp up now scheduled for Q2 2017
- Project cost estimates have been updated and decisions taken to enhance the project scope are expected to deliver a more robust operation and consistent production of a range of high quality graphite products
Syrah Positioned to Become a Leading Supplier of Superior Quality, Enhanced Value Graphite Products
- Emerging technology markets, particularly lithium ion batteries, continue to develop at a rapid pace and represents a key end market for Syrah's fine flake graphite products
- Proceeds of Offer will enable Syrah to accelerate its spherical strategy in response to market demand
- 50ktpa offtake agreement with Marubeni validates the quality of Syrah's product and positions Syrah to become a major non Chinese supplier of spherical graphite
- Further significant opportunity for spherical graphite available in Chinese, North American and European markets
Experienced Board and Management Team in Place to Deliver on the Strategy
- Syrah has built a high quality Board and management team with a diverse mix of mining, technology and African operating experience
- Dr Christina Lampe-Onnerud recently joined the Board, with over 20 years experience in the Li-ion battery sector
To view the presentation, please visit:
http://abnnewswire.net/lnk/XRB981A5
About Syrah Resources Ltd
Syrah Resources (ASX:SYR) is an Australian resource company that is rapidly progressing its flagship Balama Graphite and Vanadium Project in Mozambique to production. The Project hosts the largest graphite ore reserves in the world with an Australasian Joint Ore Reserves Committee (JORC) compliant Ore Reserve of 81.4 Mt at 16.2% total graphitic carbon. Balama is a 110 km2 granted Mining Concession located within the Cabo Delgado province in the district of Namuno in northern Mozambique. The Project is approximately 260 km by road west of Pemba and is accessible by a sealed, main road, running directly from Pemba Airport. The Port of Nacala is approximately 490 km by road south east of the Project and is the deepest port in Southern Africa.
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