Aug. 4, 2021 - Syrah Resources Ltd recorded strong operational performance with 29,000 tonnes of natural graphite produced in the June quarter. The June quarter was the first full quarter following Syrah’s production restart, with natural production at Balama "ramping up". Syrah ended the quarter with a cash balance of US$85 million.

Here are the key highlights from Syrah’s June quarter results:

• Natural graphite production at Balama ramping up – 29kt produced during the quarter.
• Balama C1 cash costs (FOB Nacala) of US$537 per tonne at ~10kt per month average production rate for the quarter.
• On track to achieve target C1 cash costs (FOB Nacala) of US$430-460 per tonne at 15kt per month production rate.
• Natural graphite sales increasing with 15kt sold and shipped, and practically all of 20kt finished product inventory contracted to customers, demonstrating strong demand.
• Disruption in container shipping market currently impacting ability to match Balama production and sales with customer demand
• Weighted average sales price of US$474 per tonne (CIF) reflecting volume directed to reestablishing China fines shipments
• Quarter end cash balance of US$85 million.’
• A big takeaway was Syrah saying its production ramp-up was ahead of schedule, with its Balama plant producing 29,000 tonnes of natural graphite for the quarter.

Importantly, product quality matched the "best performance reported during 2019".

Source: Company presentation