Syrah Resources (ASX:SYR) - Managing Director & CEO, Shaun Verner
Managing Director & CEO, Shaun Verner
Source: Syrah Resources
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  • Syrah Resources’ (SYR) Battery Anode Material project in Vidalia has been temporarily closed due to a stay-at-home order for all of Louisiana
  • The measure, which aims to curtail the spread of COVID-19, will remain in place for three weeks
  • Consequently, there will be a delay in sending samples of purified natural graphite to potential customers to be evaluated
  • Meanwhile, Syrah’s team will continue to work remotely on the Feasibility study to scale-up of the Vidalia facility
  • The company’s other project, the Balama Graphite Operation in Mozambique, is still operating
  • Syrah shares gained 6.67 per cent today and closed at 24 cents apiece

Syrah Resources’ (SYR) Battery Anode Material project in Vidalia has been temporarily closed due to a stay-at-home order in Louisiana.

The stay-at-home order came into effect on Monday and will remain in place until April 13. This measure, announced by the Governor of Louisiana aims to prevent the spread of the COVID-19 coronavirus.

As a consequence of the pause in operations at the Vidalia facility, there will be a delay in sending samples of purified natural graphite to potential customers to be evaluated.

During the closure, Syrah’s team will continue to work remotely on the Feasibility study to scale-up of the Vidalia facility after the graphite is qualified by potential customers.

Meanwhile, the company’s Balama Graphite project in Mozambique is still operating.

Syrah expects its cash balance at the end of the quarter to be in line with its existing guidance of US$64.6 million or roughly AU$108.35 at time of writing.

Company shares gained 6.67 per cent today and closed at 24 cents apiece.

SYR by the numbers
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