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Syrah Resources ( (AU:SYR) ) has provided an announcement.
Syrah Resources Limited announced a capital raising initiative to secure approximately A$70 million through an institutional placement and entitlement offer. The funds will be used to support Vidalia operating costs, DOE loan reserves, and general corporate expenses. The company has also entered into a forbearance agreement with the US Department of Energy, deferring US$16 million in loan payments to 2032, and extended a waiver with the US International Development Finance Corporation to facilitate further loan disbursements for the Balama operations. These financial moves are designed to enhance Syrah’s cash flow sustainability and strengthen its market position.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.30 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 Limited is a company operating in the mining industry, primarily focused on the production and supply of graphite. The company is involved in the development of the Balama Graphite Operation in Mozambique and the Vidalia project in the United States, aiming to optimize its commercial positioning with customers.
Average Trading Volume: 5,118,556
Technical Sentiment Signal: Hold
Current Market Cap: A$390.8M
For a thorough assessment of SYR stock, go to TipRanks’ Stock Analysis page.