Syrah’s Balama woes
Poor Syrah Resources (ASX:SYR) is having a bit of a nightmare at its new Balama mine in Mozambique. Alongside a US$76m raising to top up its coffers, it published a presentation which highlighted some of the issues it's been having. The main issue are to do with recovery, and within that the recovery into different flake graphite fractions. Different fractions have different values, with coarse fractions being the highest earners. Unfortunately Syrah's recovery into the Extra large flake and Medium flake fractions is well off its target levels and this is impacting the prices it receives. Add this to higher...