SYR - SYRAH RESOURCES LIMITED

[blacksheep]

SYR holders may be interested in these comments from Imerys - posted under the graphite threat - about their ramp up issues and subsequent closure of their "unprofitable graphite mine in Namibia. Would be interesting to know what prices SYR are achieving

 

Imerys closes unprofitable graphite mine in Namibia

By MICHAEL GREENFIELD, MICHAEL GREENFIELD

Published: Friday, 02 November 2018

 

The Namibian natural flake graphite plant ran into problems during the ramp-up phase and, with prices softening, Imerys has decided to cease operations.

Imerys has closed its Namibian graphite mine because of low prices and after failing to ramp it up as planned, it said in its latest quarterly results

 

The French company has placed the plant, which had been forecast to produce 20,000 tonnes per year of flake graphite, under care and maintenance

 

extract from Imerys results at September 30, 2018 PR

 

Implementation of ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“care and maintenanceÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ program for Namibian natural graphite assets

Imerys has decided to implement a care and maintenance program for its Namibian graphite assets to preserve

their long-term value for a future point when market pricing allows a proper value to be achieved for this

high-quality graphite product[/b]. The implementation of a proper care and maintenance program enables Imerys to

preserve its mining rights and resume production once general market conditions become more favourable.

These assets have a balance sheet value of ca. ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¬50 million.

https://www.imerys.com/scopi/group/imerysco...18_VA%20(1).pdf

 

Imerys Third Quarter and 9 Months 2018 Results Presentation

More challenging conditions in some markets, weighing on volumes

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂâââ€Å¡Ãƒ‚¬Ãƒâہ¡ÃƒÆ’‚  Uncertainty in automotive sector

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬ÃƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂâââ€Å¡Ãƒ‚¬Ãƒâہ¡ÃƒÆ’‚  Slow down of Graphite for lithium-ion batteries in China

https://www.imerys.com/scopi/group/imerysco...n_ENG%20(1).pdf

 

Just in Marc h this year Imerys made this PR

PRESS RELEASE

Otjiwarongo, Namibia, March 2018

The company has been investing and actively developing Natural Graphite operations in Otjiwarongo

since 2016, which form a core part of Imerys Graphite & CarbonÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s growth strategy.

On March 1, 2018, Imerys Graphite & Carbon (IG&C), member of the Imerys Group, introduces Martin

Tjipita, the new Mine Manager for the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s operations in Otjiwarongo, one of the latest investments of

the company for the production of natural graphite, which has different applications, including lithium-ion

batteries for electric vehicles.

 

......

 

Brian Kendall, Global Director Industrial Management and Operations of Imerys Graphite & Carbon, says: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“In

2016 we started our operations in Otjiwarongo, Namibia, opening the Natural Graphite Mine and retrofitting

the processing plant. In 2017, according to plan, we started Natural Graphite production, and this year, with

MartinÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s contribution, we will proceed with the development of our operations in Namibia, to confirm our

position as a well-established player in this industry.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

http://www.imerys-graphite-and-carbon.com/...hite-Carbon.pdf

 

Shows how fickle the graphite market is

[blacksheep]

SYR gets a mention by David Anonychuk in this interview - discusses Shaun Verners presentation at the BMI Conference

 

At this yearÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Benchmark Minerals WeekÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Cathodes conference in Newport Beach, the Investing News Network sat down with David Anonychuk, managing director of M.Plan International.

 

After giving a brief overview of his main takeaways from the Graphite+Anodes event, including thoughts on graphite demand and new anodes technologies, Anonychuk shared his insight on the cobalt sector.

 

https://investingnews.com/daily/resource-in...ch-outside-drc/

[blacksheep]

BINDING SALES AGREEMENT SIGNED WITH QINGDAO TAIDA NEW ENERGY

________________________________________________________________________________

____________

Syrah Resources Limited (ASX: SYR) (ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“SyrahÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ or ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ) is pleased to announce a binding term sales

agreement (ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“AgreementÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ) with Qingdao Taida-Huarun New Energy Technology Co. Ltd., (ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“TaidaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ).

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ The Agreement commences immediately and is for 20kt of natural graphite from Balama by 31

August 2019.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ All other terms of the Agreement are confidential.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Taida, based in Shandong, China focuses on research and development and produces carbon

materials including spherical graphite for battery anode materials.

 

Assume this is the company - Qingdao Taida New Energy Co. Ltd - http://www.taida-energy.com/en_index.php

ABOUT TAIDA

Qingdao Taida new energy Co., Ltd is one of the earliest and largest photovoltaic enterprises in Qingdao City, established by Germany Artex Technology Consulting Co., Ltd and Qingdao Taida as a joint venture with a registered capital of 5million Yuan.

Our company integrates R&D, production, and marketing into one. The products are mainly ...

https://www.globalsources.com/si/AS/Qingdao...49681/ALL/2.htm

 

Hard to get a real handle on Chinese companies - their websites leave a lot to be desired and are often out of date - certainly no mention of being a supplier of spherical graphite. The registered capital of 5 mil yuan = roughly 1 mil AUD

 

Anyway, the market likes the ann - SP up 12.36% currently @ $2.00. Maybe UBS & others covering their shorts?

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

 

No update on the progress of the Primary Classifier Unit repairs/production. Incident occurred on 1 October - suggestion was circa 5 weeks to get back to production

 

 

 

 

[blacksheep]

UBS ceasing (for the moment ) to be a substantial holder - returns borrowed stock.

 

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (2,163,961) Ordinary

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (385,634) Ordinary

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (7,070) Ordinary

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (74,730) Ordinary

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (1,317,878) Ordinary

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (375,479) Ordinary

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (429,961) Ordinary

05-Nov-18 UBS AG, Australia Branch Stock returned N/A (1,142,543) Ordinary

[blacksheep]

No update on the progress of the Primary Classifier Unit repairs/production. Incident occurred on 1 October - suggestion was circa 5 weeks to get back to production

 

Update ann now in - SYRAH PRIMARY CLASSIFIER REPAIR COMPLETED AND PRODUCTION RESUMED - SP responding accordingly - currently up 5.94% @ $2.05

 

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

[blacksheep]

Posted Yesterday, 06:46 PM - UBS ceasing (for the moment rolleyes.gif ) to be a substantial holder - returns borrowed stock

 

On 5 November UBS returned 5.9 mil borrowed shares

On 6 November UBS receives another 6.9 mil borrowed shares - clearly they are not done shorting just yet.

 

06-Nov-18 UBS AG, Australia Branch Stock received N/A 6,926,505 Ordinary

 

https://www.asx.com.au/asxpdf/20181108/pdf/...3yzlmf7t870.pdf

 

This stock reminds me of LYC - UBS did the same to LYC in the early days of ramp up and production

 

 

[JSB]

I was under the impression that the first year's production was already under contract for the initial output guidance of 160-180kt. That the impact of the production outage was minimised by "the drawdown of existing inventory" and now a new binding sales agreement to commence immediately under a much lower revised output guidance reads as peculiar to say the least.

[blacksheep]

Peculiar indeed

[blacksheep]

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? ItÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s 25 New Jobs!

extract

Syrah Resources considered two other Louisiana locations for its plant before settling on Vidalia

 

A new industry is coming to Vidalia in Concordia Parish ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ 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.

 

ThatÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢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

 

 

[blacksheep]

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

 

Not able to upload a chart