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Syrah Resources ( (AU:SYR) ) has provided an update.
Syrah Resources Limited has successfully completed its institutional placement and entitlement offer, raising approximately A$42 million from existing and new institutional shareholders. The total expected capital raise, including the retail component, is approximately A$70 million. This funding will support Syrah’s operations and enhance its market positioning. The new shares issued will rank equally with existing shares, and the trading halt on Syrah’s shares has been lifted, allowing trading to resume on the ASX.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.35 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 natural graphite. The company is known for its Balama Graphite Operation in Mozambique, which is one of the largest graphite mines in the world. Syrah Resources is dedicated to providing high-quality graphite products to meet the growing demand in various sectors, including electric vehicles and energy storage.
Average Trading Volume: 5,150,903
Technical Sentiment Signal: Hold
Current Market Cap: A$396.1M
See more data about SYR stock on TipRanks’ Stock Analysis page.