Resources Stocks Down Under 10 March 2022: Syrah Resources (ASX:SYR)

Syrah Resources: From Mozambique to Louisiana

Today we turn out attention back to graphite – specifically to the ASX’s most prominent company in this space, Syrah Resources. It has historically been focused on its Balama Graphite Mine in Mozambique but the company’s share price took a hit thanks to the Corona Crash and a long pause in production. In recent months shares have recovered and we think that’s got a lot to do with Syrah’s second ‘company maker’, an Active Anoda Material (AAM) plant it intends to build in Louisiana. The project’s economics have improved thanks to the run in graphite prices and it capped off last year with a binding off-take agreement with Tesla. As we’ve said before on Stocks Down Under, we think graphite stocks are set for a positive 2022 and with Syrah headed up the value curve, it is set to be one of the best companies in this space.

Click here to read the previous edition of Resources Stocks Down Under published 3 March 2022

For in-depth research reports or to keep up-to-date on the latest Stocks Down Under news see our parent company, Pitt Street Research, or follow us on Facebook and Twitter.