Syrah Resources (ASX:SYR) suspend production at Balama Graphite Operation

Company News

by Rachael Jones

Syrah Resources (ASX:SYR) says The Government of Mozambique has enacted additional measures in relation to the management of COVID-19, including suspension of all inbound travel visa operations and mandating 14-day selfquarantine for all international arrivals.

These restrictions limit the mobility of a significant portion of the Balama workforce, and the Company will therefore temporarily suspend production at Balama Graphite Operation from tomorrow.

Sales orders from existing finished product inventory will continue to be dispatched.

Syrah continues to expect its end of quarter cash balance to be broadly aligned to existing guidance of US$64.6 million.

Shares in Syrah Resources (ASX:SYR) are trading 1.96 per cent lower at 25 cents.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.