Syrah Resources (ASX:SYR) is continuing to ramp up its Balama Graphite Operation in Mozambique with disappointing forecast prices.
Expected first quarter 2019 weighted average graphite price achieved is US$460 - US$470 per tonne (CIF) that's versus the guidance range of US$500 - US$600 per tonne.
Despite lower than forecast prices, the cash position as at the end of the quarter is expected to be US$55 million - US$57 million with a guidance of US$57 million.
The company's annual report will be released at the end this month.
Shares in Syrah Resources (ASX:SYR) trading 3.77 per cent higher to $1.10.