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SYR, SYRAH RESOURCES LIMITED
nipper
post Posted: Sep 10 2019, 12:59 PM
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QUOTE
Syrah will slash monthly production at its Balama mine in Mozambique by two thirds to just 5 million tonnes per month from about 15 million tonnes. The cuts follow a "sudden and material" slump in graphite prices, exacerbating market conditions that had already rendered ASX-listed Syrah as loss-making.

Shares in Syrah fell as much as 40 per cent in early morning trade and the shares were down 28 per cent at 51¢ at 11.25am AEST; that's a far cry from the $6.54 the stock fetched in June 2016.

The production cuts suggest Syrah will produce about 152,000 tonnes of graphite in 2019; it expected to produce 250,000 to 300,000 tonnes in 2019 when it gave guidance in January 2018. There is no guarantee the production cuts will be the last, with Syrah conducting a review of its operating plans for 2020, and signalling a desire to reduce spending.

Syrah said graphite prices had averaged $US400 per tonne since June 30; down from $US457 per tonne in the previous three months and $US469 per tonne in the early months of 2019.

Syrah's unit cost of production at Balama, excluding extra costs like freight and administration, was $US567 per tonne in the first half, meaning it is a long way from breaking even at current prices.

A feasibility study published by Syrah in 2015 assumed that graphite prices would average $US1000 per tonne over the life of the mine




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: JasNat  
 
nipper
post Posted: Sep 8 2019, 10:16 AM
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QUOTE
There was also speculation on Friday that ASX-listed miner Syrah Resources, which mines graphite in Mozambique, was considering scaling back or temporarily closing its Balama mine amid very weak demand and sliding prices for the commodity.

https://www.afr.com/companies/mining/deferr...20190906-p52oox



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: JasNat  
 
blacksheep
post Posted: Sep 4 2019, 12:14 PM
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Making graphite in a renewable way
3rd September 2019
extract - SYR gets a mention
Bio-based carbon materials
QUOTE
Graphite is one example of a critical material with high commercial or strategic importance. It can be found in its natural state or it can be produced artificially. Both, however, involve the use of fossil-sources either as feedstock, to power the mining extraction process, or because naturally occurring graphite is itself a fossil resource.

Graphite plays a major role in energy applications such as batteries, supercapacitors, fuel cells or as an anode in metallurgical applications. Additionally, it is used as a lubricant and in seals for high-temperature applications. The graphite demand is expected to increase in the following years due to the production increase of lithium-ion batteries and other energy storage systems involved in the electrification process.

Companies like Syrah Resources expect an increase of 400 metric tonnes in the graphite demand by 2021 driven solely by the battery sector. Luckily, bio-based carbon materials could replace graphite in most applications.

https://www.engineerlive.com/content/making...e-renewable-way

SYR's Moz subsidiary Twigg going to tender for these services - do they have that many executives in Moz flying all over the world?

QUOTE
Corporate Travel Management Services
The Company is looking to engage with an International Air Transport Association (IATA) certified Supplier that can deliver the provision of a well-managed travel service for the purpose of booking all flight tickets, hotel accommodation, transfer services and other requirements related to business travel.

Twigg requires support services for both domestic travel in-country (i.e. Mozambique) as well as international flights to a vast array of destinations worldwide.




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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

Said 'Thanks' for this post: JasNat  
 
blacksheep
post Posted: Sep 1 2019, 06:41 PM
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In Reply To: blacksheep's post @ Aug 29 2019, 08:20 PM

Going back to past CSE announcements - September 2018 Qtrly - regarding the SYR loan agreements they have entered into suggests they are Margin Loans - each one has been "terminated" following recent SP movements down. This stragety by CSE does not look to have worked out terribly well, IMHO. Also explains the extra 78,630 shares mentioned in previous post

QUOTE
Subsequent to the end of the September 2018 quarter and pursuant to the terms of the
Loan Agreement (Agreement) as at 31 October 2018 the Company has decided to
provide an additional 342,067 secured Syrah shares to satisfy the Margin Call under the
Agreement.
Thisis as a result of a recent diminution in the value of the original 1,800,000
secured Syrah shares and under the terms of the Agreement a margin ratio exposure
has occurred. As at 31 October 2018, the secured shares amounted to 2,142,067.


QUOTE
What are the benefits and risks of borrowing?
Benefits

You can build a larger portfolio than if you were using just your own funds.
Some lenders allow you to borrow using an existing share portfolio as collateral. This allows you to increase the size of your investment without having to deposit additional cash.
Manage concentration risk by diversifying your portfolio. For example, if your share portfolio is overweight in a certain sector and you do not want to sell the shares, you could use the equity in your current portfolio to borrow and invest in companies in other sectors.
Potential tax efficiencies associated with borrowing.
Risks

While a share investment loan can help accelerate the growth of your portfolio, it can also magnify losses if prices move against you and you can lose more than your invested capital
Interest costs associated with your loan may reduce your profits. Interest rates are also subject to change, and can result in an increase in the cost of servicing your loan.
LVRs, or margin rates, are subject to change at the lender's discretion. This can lead to a requirement for you to deposit additional cash at short notice. In some cases, your shares can be sold by the lender to satisfy your margin obligations. This can result in your shares being sold at a loss and you will still be required to repay the outstanding balance of the loan.




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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

Said 'Thanks' for this post: JasNat  
 
blacksheep
post Posted: Aug 29 2019, 08:20 PM
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In Reply To: blacksheep's post @ Mar 29 2019, 07:55 PM

CSE now down to 9.14 mil shares in SYR after terminating the March 2019 Loan Agreement. In the March announcement CSE said 4,100,000 shares were provided as security - todays ann says 4,178,630. They took up this loan to participate in the last CR @ 81c. They say, after surrendering the shares they've recognised a gain of approx $1.03 m. If I'm reading this correctly they've received less than 25c for the 4,178,000 shares they gave away. Hardly a gain IMHO. But they continue to view "considerable potential upside". Ultimate baggie? sadsmiley02.gif Meanwhile CSE's SP has followed SYR dow n- currently 6.5c

QUOTE
29 August 2019 CSE
COPPER STRIKE TERMINATES NEW LOAN AGREEMENT

Copper Strike Limited (“Copper Strike” or the “Company”) advises that it has terminated
the New Loan Agreement announced on 29 March 2019.

The New Loan Agreement has been terminated earlier than the original 3-year term at
the Company’s option and on a non-recourse basis. Cessation of the $3.95 million loan
has occurred by the Lender taking possession of 4,178,630 Syrah shares held as security,
hence leaving no obligation outstanding.

As a result of the termination there is no further liability to the Company by closing out
the loan and it will result in the Company recognising a gain on settlement of the
liability of approximately $1.03 million.

Total interest and fees paid during the loan term amounted to approximately $64,000.

Following termination of the Loan, Copper Strike owns approximately 9.14 million
shares in Syrah Resources Limited, as well as additional listed and unlisted investments.

The Board remains of the view that the share price of Syrah has considerable potential
upside.




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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: Aug 29 2019, 02:06 PM
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In Reply To: blacksheep's post @ Aug 16 2019, 10:26 PM

Hiring a Technical Manager for BAM site - advertised 2 days ago - will need to hit the deck running to "ensure first product is dispatched by end of Q3 2019" - that's 32 days away and assuming he/she starts immediately
QUOTE
Syrah Resources LtdVidalia, Louisiana, United States
2 days ago30 applicants

ABOUT THE ROLE

A unique opportunity exists for an experienced Technical Manager to join the BAM team based in Vidalia, Louisiana, on a permanent fulltime basis. This role is responsible for providing strong leadership and technical engineering support to ensure the first purified spherical graphite product is dispatched by the end of Q3 2019 and to manage product optimization projects into operations. The successful applicant will gain invaluable career exposure to the rapidly evolving battery industry within an exciting and diverse organization.

Employee Benefits associated with this role include healthcare, vision plan, dental plan, retirement plan contribution matching, long term disability insurance, basic life insurance, PTO and floating holidays.


Nice benefits BTW - wonder if the workers in Moz get the same?

https://www.linkedin.com/jobs/view/technica...-ltd-1404148874

Total short positions @ 23/8/19 = 14.49%
https://www.shortman.com.au/stock?q=SYR
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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: Aug 16 2019, 10:26 PM
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Vidalia is the place where SYR's BAM site is located. SYR's BAM wastewater was accepted by the Vidalia Council to be added to their existing sewerage system - they said the system it could handle it The system was built to process 1.5 m gallons of wastewater but was actually processing 2.2 mg with added seepage and flood waters. Appears now the council are seeking help with funds for upgrades and repairs to the wastewater system.. Approx $5.4 mil is needed. They also want approval to pump water out to the Mississippi River at a higher capacity

https://m.natchezdemocrat.com/2019/08/15/vi...tewater-system/



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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: Aug 16 2019, 11:44 AM
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SP hit the valuation Viceroy Research put on SYR back in 2016 - 70 cents - at one stage hit 69.7c
https://www.shortman.com.au/stock?q=SYR
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Attached Image


 




--------------------
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: Aug 10 2019, 11:55 AM
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In Reply To: blacksheep's post @ Aug 8 2019, 12:49 PM

Gets a mention here - Graphite: Flake prices falter as African exports meet new demand — for now
QUOTE
Prices for natural flake graphite have fallen through H1 2019 following a period of relative stability in Q4 2018. Prices declined by relatively minor amounts through the first quarter of this year but began to fall more steadily through the second quarter. FastMarkets reported prices for 94% C grade flake, FOB China, to have declined by 6%, 3% and 4% for fine (-100 mesh), medium (+100 mesh) and large (+80 mesh) size flake respectively in Q2 2019 compared with those in Q1. Prices continued to fall further in July.

Roskill View

Flake graphite prices have been suppressed as an increasing amount of supply enters the market from the ramp-up of African producers. Mainly in Mozambique and Madagascar, this extra production is being exported, mostly to China. Chinese imports from Mozambique and Madagascar have increased almost every month since early 2018. Imports of natural graphite from Mozambique were virtually zero in Q4 2017 but had increased to 14.1kt by Q2 2019, while imports from Madagascar increased from 0.6kt to 4.6kt over the same period. Material from Mozambique is mainly small and medium size flake for use in the lithium-ion battery industry, while imports from Madagascar are mainly larger size flake for use in the emerging market of expandable/expanded graphite. It should be noted that China’s Mozambican imports did decline slightly in June 2019, however, the first downward movement in six months.

Syrah Resources is responsible for almost all production in Mozambique and aims to continue its ramp up of production though H2 2019, with aims to double 2019 production from the 104kt output in 2018. The producer has already reported 48kt of flake concentrate shipments in Q1 2019 and 53kt in Q2 from its Balama operation. With demand currently growing more slowly than anticipated, this extra supply is expected to push prices even lower through the remainder of 2019 and 2020. Lower demand is a result of revisions to Chinese electric vehicle incentives since the start of the year, which have begun to negatively impact demand for lithium-ion batteries and their raw materials.

Roskill’s longer term price forecasts out to 2029 are more positive, however, as significant growth in demand for flake graphite from batteries outpaces supply from the ramp-up of current producers. Price recovery will depend on the ability for new producers to open new supply in a timely fashion and on other factors, not least, the potential for further environmental closures in China.

https://roskill.com/news/graphite-flake-pri...2%80%8afor-now/



--------------------
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: Aug 8 2019, 12:49 PM
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Posts: 6,217
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Perhaps Glencore's actions in temporarily shutting down their cobalt mine in DCR - due to lack of demand and subsequent low prices - might be the answer to SYR's current problems? extract below which I posted in the cobalt thread

Miners find out the hard way why cobalt is called the goblin
Bloomberg News | August 7, 2019

QUOTE
For Glencore, the precipitous fall in cobalt is more bruising because the metal, a key ingredient for batteries, was its shining star back in 2017. The miner made its copper and cobalt assets a big part of its selling pitch to investors, touting the future boom in electric cars and global urbanization.

But the strategy hit pitfalls. Excess supply has overwhelmed demand for battery materials and because it’s a niche market, Glencore hasn’t been able to hedge its exposure to cobalt, leaving the metals trading business exposed to losses. To make matters worse, Glencore detected uranium in some cobalt last year, rendering it unsaleable.

To be sure, Glencore isn’t giving up on Mutanda entirely. It expects to bring it back online in 2021 and is looking at a new mine plan that could boost production over the long term. The restart might coincide with electric cars becoming more popular with consumers, which would boost demand.

That could leave Glencore’s traders on a strong footing as they negotiate supply deals with customers who pulled out of contracts when prices were weak. “People who have reneged on us in the past, of course they’re not going to be top of our list,” Glasenberg said.


read more - https://www.mining.com/web/miners-find-out-...led-the-goblin/



--------------------
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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