Syrah’s Balama operations below plan

Company News

by Anna Napoli

Industrial minerals and tech company Syrah resources (ASX:SYR) has provided a quarterly report.

First quarter operations at the company’s Balama graphite operation were below plan at 11 200 tonnes.

Meantime, the company’s net cash out flow was US$31 million compared to a forecast of $US35 million.

Syrah now expects to see positive cash flows from operations at Balama towards the middle of the second half of 2018.

Shares in Syrah (ASX:SYR) closed down 1.25 per cent to $3.15 on Friday

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.