Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Syrah Resources' Balama Project attracts Credit Suisse as new substantial shareholder  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 04/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Syrah Resources (ASX: SYR) has gained Credit Suisse Holdings (Australia) as a substantial shareholder with a 5% interest.

Credit Suisse now holds 6.77 million shares.

Syrah continues to impress at its Balama Graphite-Vanadium Project in Mozambique, with the project having attained the rank of world's largest graphite deposit with significant vanadium.

A maiden resource has been delivered for the project that far exceeds the initial exploration target of 400 to 500 million tonnes at 10% total graphitic carbon (TGC) previously outlined for Balama West.

The global Inferred Resource for Balama West is 564 million tonnes at 9.8% TGC and 0.21% V205 at a 5% TGC cut off.

The contained graphite of the Balama deposit is expected to exceed the rest of the world's reserves of graphite as recorded by the USGS (77 million tonnes as at 2012).

Balama's vanadium resource also now exceeds that of the world's largest operating vanadium deposit, Xstrata's Rhovan in South Africa.

Syrah expects Balama to be one of the lowest cost producers of graphite in the world, including China.

Given that the independently prepared resource exceeded the exploration target for Balama West, the company is also confident of exceeding the exploration target for Balama East.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help