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Syrah Resources ( (AU:SYR) ) has shared an update.
Syrah Resources reported strong operational performance at its Balama graphite mine for the March 2026 quarter, producing 24,000 tonnes of natural graphite with record recoveries and maintaining high product quality, while selling 20,000 tonnes at an average price of US$630 per tonne. The company signed a multi-year offtake deal with NextSource for up to 68,000 tonnes over seven years, progressed community and labour agreements in Mozambique, and highlighted cost guidance amid ongoing diesel supply risks linked to the Middle East conflict.
At its Vidalia active anode material facility in the U.S., Syrah limited production to testing as it accelerated customer qualification in preparation for commercial sales, benefiting from policy support for domestic battery materials. The group ended the quarter with US$52 million in cash and completed a US$72 million equity raising to fund ramp-up at Balama and Vidalia, while pursuing strategic funding proposals with DFC, DOE and AustralianSuper to strengthen its balance sheet against a backdrop of slightly weaker global EV demand and a U.S. trade ruling that eased competitive pressure from Chinese AAM imports.
The most recent analyst rating on (AU:SYR) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
More about Syrah Resources
Syrah Resources is an ASX-listed producer of natural graphite, operating the Balama mine in Mozambique and developing active anode material capacity at its Vidalia facility in the U.S. The company targets the electric-vehicle and battery supply chain, supplying graphite products to third-party customers under long-term offtake agreements while positioning as a non-Chinese source of critical battery materials.
Average Trading Volume: 6,862,440
Technical Sentiment Signal: Sell
Current Market Cap: A$265.1M
See more data about SYR stock on TipRanks’ Stock Analysis page.