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SYR - Syrah Resources

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Thought I'd start a post on this little explorer. Up 56% today. Recent news about a JV deal and exploration in Saudi Arabia. Still early days though.
 
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Hi Bryan

Big write up on SYR by Garimpeiro (Barry Fitzgerald) in today's Age newspaper too gave it another boost...wrote up Citadel as well, another company operating in Saudi Arabia.

Big difference between SYR and CGG is SYR just starting to move. Only 30 million shares on issue gives it a market cap of diddly squat...compare that to CGGs market cap of OVER $600M :eek:!!!!!!

Been a holder in SYR since the float, and have been accumulating up to 10c.

BuffetJr
 
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Hi Bryan

Big write up on SYR by Garimpeiro (Barry Fitzgerald) in today's Age newspaper too gave it another boost...wrote up Citadel as well, another company operating in Saudi Arabia.

Big difference between SYR and CGG is SYR just starting to move. Only 30 million shares on issue gives it a market cap of diddly squat...compare that to CGGs market cap of OVER $600M :eek:!!!!!!

Been a holder in SYR since the float, and have been accumulating up to 10c.

BuffetJr
Been holding since the float?!! Your faith in the company must have been shaken when it hit 2.5 cents! How long has Citadel been in Saudi Arabia for?
 
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Bryan

Their IPO was unfortunately timed with the GFC hitting it very hard. Obviously watching the initial investment almost go up in smoke wasn't pleasant. But it wasn't my only investment that had a similar hit.

However I know the MD Alistair Campbell quite well (regular drinking buddy), including from his days at Pan Australian (he's a mining engineer by background), and when he ran his private company which assisted companies like Integra with their resource delineations. I know he is a hard worker and knows what he is doing, and wont destroy the company on assets if he doesnt think they are any good, hence why he rejected the White Dam project and the JV with Stratatex in Turkey and the reason why they still have only 30M shares on issue and cash of $1.8M. So I was never really fussed knowing he would try his best to not only recover the lost ground, but be very successful.

Given the amount I bought since up to 10c (more than double my original float investment), I am well up given the recent spike :) Hopefully it keeps going. Its market cap is still only a measly $5M at a 16c SP and I see no reason why it can't be at least double that based on their Saudi Arabian activities.

BuffetJr
 
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Well it got to DOUBLE today so I guess i should rephrase my last post and say that I cant see why it can't be QUADRUPLE that :D

Have to admit I'm a little surprised it's gone this hard...would love to know where the buying has come from but surely it will run out of puff soon. I have cash waiting to buy up if it does weaken because I expect they will release details of what they have applied for at some stage...who knows what the market will do with it then, particularly if Barry Fitzgerald writes it up again on a monday with this new detail.

Of course they could wait until they actually have the licences granted to provide detail, but it would make sense to give the market some information beforehand.

BuffetJr
 
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wow, it's looks like some people here have been waiting a long time for the licence applications in KSA to be granted. It's probably no consolation but other companies have had the same wait, the only difference being that companies like kefi in the uk seem to have had a lot more investor interest and the the share price has moved more than Syrah's. Hopefully the wait for the first licences will be over soon and the exploration can begin.
 
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announcement - more cash - more shares

I wondered why the price had moved a little bit this week. Glad to see they've got some more cash, just a shame the Saudi exploration licences are taking so long to come.

ASX ANNOUNCEMENT
25 March 2011
Placement of Shares
Syrah Resources Ltd (ASX:SYR) is pleased to announce that it has received binding
commitments for a placement of 5,175,000 ordinary shares to professional and
sophisticated investors.
The placement was conducted at a price of $0.105 per share and will raise $543,375
before costs.
The placement is equal to 15% of the existing Syrah shares on issue and will not
require shareholder approval.
The funds will be utilised as working capital to continue business development in
Saudi Arabia where the Company currently has 27 applications for Exploration
Licences in progress. The funds will also be utilised to support ongoing evaluation of
new opportunities.
Alistair Campbell
Managing Director
Syrah Resources Ltd
 
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Looks like the DMMR in Saudi have finally found their rubber stamp as Kefi have been granted an exploration licence. Hopefully Syrah's first one won't be too far behind.
 
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Sweet deal for Jacana holders. An unlisted company worth net assets of $400K ends up vending into SYR for $4.5M. Nice ten bagger for the Jacana holders who just happen to include a broker from Shawstock. His interests have ended up with 15% of SYR for what appears to be an initial $100K investment in Jacana.
Wonder how much Jacana paid for the African assets?
 
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Sweet deal for Jacana holders. An unlisted company worth net assets of $400K ends up vending into SYR for $4.5M. Nice ten bagger for the Jacana holders who just happen to include a broker from Shawstock. His interests have ended up with 15% of SYR for what appears to be an initial $100K investment in Jacana.
Wonder how much Jacana paid for the African assets?
The share price keeps going up :eek:

crazy stuff... I wonder if anyone on ASF holds this stock.
 
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I own a few. Market cap is crazy but will probably go higher as it's being pumped by a broker from Shaw. The said broker owns about 15% of SYR. Of course he's going to pump it. This is trading on a market cap of about $75M more than what was paid to the African interests. Way overvalued but I reckon a pump to $1 is on the cards and then my small holding will be sold. Cap raising a certainty at that stage.
 
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I own a few. Market cap is crazy but will probably go higher as it's being pumped by a broker from Shaw. The said broker owns about 15% of SYR. Of course he's going to pump it. This is trading on a market cap of about $75M more than what was paid to the African interests. Way overvalued but I reckon a pump to $1 is on the cards and then my small holding will be sold. Cap raising a certainty at that stage.
I feel so stupid now.

Price at Feb = 50c. (5 bagger in a few short months, hence I didn't buy... sigh)

Price now = $1.00

You were right with your call. Gotta learn to just trade to what the market is saying. Also too scared of a C/R to buy in now.

20 Apr 2012 1.000 10.5% 1.025 0.910 914,415
19 Apr 2012 0.905 1.69% 0.940 0.870 874,307
18 Apr 2012 0.890 11.95% 0.890 0.840 365,286
16 Apr 2012 0.795 6.71% 0.795 0.730 174,098
13 Apr 2012 0.745 10.37% 0.745 0.700 227,500

Look at those gains in the last 5 days.

nvm, C/R complete already? Re 11 april announcement.
 
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It is an impressive story. There is an article on the Syrah website which was produced by the Diggers and Drillers newsletter outlining the market for graphite and the (potential) size of the ore body they have found. Good reading.

Incidentally another company CSE (Copper Strike) is effectively a proxy buy for SYR . It holds 11m shares and has common directors and offices. It has also had an excellent run in the past few months and should track SYR SP. :2twocents

http://www.syrahresources.com.au/SYR Diggers and Drillers News Release.pdf
 
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Sold a small parcel at $1.30 but still hold more than a few. If they've got what they think they've got, this will have a $4 in front of the share price by year end. The more I research the flake graphite market the more I understand the significant upside.
 
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Sold a small parcel at $1.30 but still hold more than a few. If they've got what they think they've got, this will have a $4 in front of the share price by year end. The more I research the flake graphite market the more I understand the significant upside.
Flake graphite.. seriously the amount of research into it and publicity has gotten into overdrive.

Shale and oil.. BRU etc going to be left in the dust.

April and May is all about graphite it seems... these graphite stocks axe cse syr.. anyone know anymore?
 
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Both SYR and CSE in trading halts pending material "transaction" involving exploration assets.

High quality premium medium/large flake graphite sells for $3000/tonne. The production costs for Syrah will be so cheap. It's outcropping and high grade with incredibly low strip ratio. Wages will be extremely low. One would think production cash costs would be less than $300/t. That's some profit margin at $3000/t.
With such a low strip ratio and high grade, production of at least 100,000 t per annum will be realistically achievable.
After tax and royalties, SYR could be pulling in around $200M per annum profit. With a very long mine life and the capacity to "be the market" in flake graphite, a P/E of 10 would be conservative. That would price SYR at around 2 billion market cap or $16 per share based on 125M shares on issue. Certainly gets the taste buds tingling. I'll be happy with half that! LOL

CSE is one to watch, especially after we hear the details of the current "transaction". It's market cap is tiny and it's tightly held. This stock which SYR was spun out of could be a multi bagger. I hold.
 
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I think Chakvet summed up the situation very well in his last past.

With basically a mountain of easily accessed, high grade graphite SYR and CSE should move very smartly into production and world class miners. Should be many happy returns !:)

(I don't think I would like to have shares in other graphite miners in the next 12 months..)
 
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