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Syrah Resources ( (AU:SYR) ) has issued an update.
Syrah Resources Limited announced a proposed issue of securities through an accelerated non-renounceable entitlement offer and a placement. The company plans to issue up to 192,296,092 ordinary fully paid securities for the accelerated offer and 76,934,677 for the placement. This move aims to strengthen the company’s capital base and support its ongoing operations, potentially impacting its market positioning and shareholder value.
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 operates in the mining industry, primarily focusing on the production and supply of natural graphite. The company is known for its Balama Graphite Operation in Mozambique, which is one of the largest high-grade graphite deposits globally.
Average Trading Volume: 5,118,556
Technical Sentiment Signal: Hold
Current Market Cap: A$390.8M
Learn more about SYR stock on TipRanks’ Stock Analysis page.